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Thread: Obama: No Deal Without Tax Hikes

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Goldenboy219 View Post
    The wealthy have a low marginal propensity to consume domestic goods which can be observed via savings rates throughout all income quintiles. People with negative to zero savings rates consume at 100%.

    The super wealthy do not (investment ≠ consumption).
    You are talking percentages, not actual $$$. Taxing the wealthy does not affect their propensity to spend when their income is increasing faster than the tax they pay on that income.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by sangha View Post
    You are talking percentages, not actual $$$. Taxing the wealthy does not affect their propensity to spend when their income is increasing faster than the tax they pay on that income.
    This has nothing to do with my statement. Economic uncertainty alone is enough to cut high income consumption; tax increases along with said uncertainty only makes it worse....
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Boo Radley View Post
    You do realize I too can post partisan opion (sic) pieces
    you sure can

    LOL!

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Thunder View Post
    Bush Senior raised taxes during his term.

    what sort of disaster did it lead to?
    A loss to Clinton in 1992.

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by sangha View Post
    We're talking about increasing taxes on the wealthy, who have a high marginal propensity to consume domestic goods. Your own argument contradicts your own conclusion
    Most wealthy people aren't big spenders. That's why they're wealthy.

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Boo Radley View Post
    No, you posted an Op-ed piece
    says the fella whose next post is a link to a st pete times editorial

    LOL!

    you really don't know how to play this game at all, do you

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Taylor View Post
    Most wealthy people aren't big spenders. That's why they're wealthy.
    Which is true when considering consumption as a % of total disposable. The flip side of the coin is because they are not big spenders, increasing taxes on high income earners during (near) full employment is not a negative because their consumption pattern(s) will not change drastically.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama: No Deal Without Tax Hikes

    the govt is up against 61.6 trillion dollars of unfunded liabilities which grew by 5.3T last year alone

    U.S. funding for future promises lags by trillions - USATODAY.com

    upshot---if you wanna raise taxes go ahead, but there's just not enough money on earth

    mere drops in oceans

    you have to spin outta control not to see

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    Re: Obama: No Deal Without Tax Hikes

    june 10:

    Some 37% of all net new American jobs since the recovery began were created in Texas.

    Using Bureau of Labor Statistics (BLS) data, Dallas Fed economists looked at state-by-state employment changes since June 2009, when the recession ended. Texas added 265,300 net jobs, out of the 722,200 nationwide, and by far outpaced every other state. New York was second with 98,200, Pennsylvania added 93,000, and it falls off from there. Nine states created fewer than 10,000 jobs, while Maine, Hawaii, Delaware and Wyoming created fewer than 1,000. Eighteen states have lost jobs since the recovery began.
    Review & Outlook: The Lone Star Jobs Surge - WSJ.com

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Taylor View Post
    A loss to Clinton in 1992.
    Where taxes were increased again and revenues increased again with job growth and a lower deficit. Tragic indeed!
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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