B20Paul wrote:Reaganomics & lots of it is what's needed! It worked the first time, right?
Matt Gruber wrote:lets look at a NYC rich guys' net income
pay $1 million, 36% fed tax plus 17% state and city tax.
53% total tax.
poor guy has to live on just 470k, now, what might happen if taxes go UP 10%?, his net drops to 370k. so being in business he might make up for the net pay cut by expanding and hiring.
if u cut his tax 10%, then his net goes up to 570k. no need to hire anybody with a raise like that! an extra 100k for doing nothing! (unless u count the cost of the bribes to congressmen)
Matt Gruber wrote:the flat tax is not working out too good in greece. i just saw on french tv that their businesses are moving to bulgaria where taxes are lower, and workers work for 1/4 of the greece wages. of course bulgaria does not have the greece heath care and retirement plans.
as for chinese workers doing work americans hate, that is the american way. chinese built the US railroads in the 1800's. nothing new or dangerous. U don't see our 45 million on food stamps lining up to pick potatoes.
The way it works, not that i like it, is that the chinese are frugal, and invest their savings in US bonds, and that $$ is given to our unemployed as benefits.
if u want to be more successful, read books by the top 1%. their businesses are scalable without labor costs. Like a code writer that sells ipad apps. if it sells well, u can make millions without much if any marginal labor.
Users browsing this forum: No registered users and 1 guest