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+--- Thread: If demand drives the market, what's it going to do to demand when the rich have to rein in their spending? (/thread-54408.html)
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If demand drives the market, what's it going to do to demand when the rich have to rein in their spending? - El Tecolote - 01-16-2013 09:43 AM
Tax the hell out of the rich. Destroy "demand." Then what?
So you guys spread the word of your econ professors until it hurts your own arguments then? Is that it?
- Trumpet Warrior - 01-16-2013 09:46 AM
a Walton grandkid brat worth $25B does not consume anywhere their net worth
- Trumpet Warrior - 01-16-2013 09:48 AM
Why would the rich have to rein in their spending? Because they face a marginal tax increase on earned income over $250k?
I don't think so.
- VoteVoteVote - 01-16-2013 09:56 AM
WRONG. A slight tax increase does not change the spending behavior of the rich. Just as the tax cut did not get them to spend more or create jobs.
Give a working man a buck and he’ll probably spend it in the economy, which is good. Welfare is actually our #1 economic stimulator, because that money is spent in the economy.
Give a Romney a tax break and that cash ends up in the Caymans, or a little island off France, or in a Swiss bank account - where it does nothing for this country.
Strong economies are built from the middle - out.
- Jim - 01-16-2013 09:58 AM
It will do almost nothing. 70% of the Economy is consumer spending and that is mostly the 95% of Americans making less than $250,000. The tax increase is 3% of the income over $250,000. It is not that big a deal.
- Mr Facts Teller - 01-16-2013 10:06 AM
Don't worry about the rich, they got tons of cash to spare!
Hell, look at all that money the Koch Brothers pissed away to try and get Romney elected!
If they can do that, they can pay more in taxes.
- Summertime - 01-16-2013 10:10 AM
Damn ET, They're not gonna go broke. You gonna give yourself a heart attack worrying about the rich. I been seeing your tirades around the board. Calm down buddy. Please.
- bigvossman - 01-16-2013 10:11 AM
I don't know it does anymore. Speculation and emotions play a larger role today than they did previously
- SadMitt - 01-16-2013 10:14 AM
Nothing whatsoever.
The rich do not SPEND much of their money at all....they just "sit on it"...which is what is largely responsible for our recent economic malaise...
- Dana B - 01-16-2013 10:15 AM
You create a lot more demand if you put more money in the hands of working class employees and the poor, you know. If Wal-Mart paid their employees enough so that most of them didn't have to be on government benefits, what do you think they'd do with that money? They'd create demand for things and for services because they could afford to buy them. That's how it works.