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Thread: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by Redress View Post
    Depends on who they are. Some produce quite a bit, some not so much. Going down this road only gives credence to his weak argument.
    There are many on Wall Street that make billions/year and others that make millions, they produce NOTHING!!


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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by pbrauer View Post
    There are many on Wall Street that make billions/year and others that make millions, they produce NOTHING!!
    Investing in companies that are doing well isnt exactly doing nothing.
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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by pbrauer View Post
    There are many on Wall Street that make billions/year and others that make millions, they produce NOTHING!!
    If you are making billions a year on Wall Street, you certainly are producing something, namely wealth. There is nothing wrong with that.
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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by pbrauer View Post
    There are many on Wall Street that make billions/year and others that make millions, they produce NOTHING!!
    They produce a truckload of cash flow and tax revenue, every year. Cash flow is what keeps the economy rolling. And, no, the government can't create that cash flow.
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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by Redress View Post
    The same way it has been explained every time you use this misleading argument. If I get a pay cut, but work more hours, I may make more money, but I still got a pay cut. If you reduce taxes, but more revenue was raised die to growth in the economy, you still reduced the amount of revenue over what it would have been. You have had this explained dozens of times, and yet still try and use this silly argument.
    Where does human behavior fit into your world? You aren't going to get the same level of spending thus GDP Growth with higher taxes thus the revenue is going to drop for companies that rely on that spending and that reduces corporate taxes. Too many people ignore the affects of spendable income on the economy. If you get a pay cut it will be due to higher taxes and that is what really matters. What would have happened with higher taxes is people having less take home pay and thus less spendable income.

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by Redress View Post
    Or he feels that the wealthier people are hurt less by higher taxes. Dishonest spin is still dishonest.
    That is class envy and wrong. Why do you care how much someone else makes? Do you understand the principles upon which this country was built? I really don't care how much you make but apparently you care how much I make, there in lies the difference. More money gives me more control, less money gives a bureaucrat control.

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by pbrauer View Post
    How much???
    Trillions! Look it up

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by pbrauer View Post
    What does the very rich produce other than an unstable ecomomy when they get huge tax breaks. They gamble it on WS.
    Why do you care what people do with their money? It is theirs, not yours! Unless they bury the money in the back yard any increase in income helps the economy.

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by Redress View Post
    Depends on who they are. Some produce quite a bit, some not so much. Going down this road only gives credence to his weak argument.
    Why don't you tell me how the rich keeping more of what they earn hurts the economy? What do they do with the money?

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    Re: Panel Chairmen Recommend Cutting Federal Spending by $200 Billion

    Quote Originally Posted by pbrauer View Post
    There are many on Wall Street that make billions/year and others that make millions, they produce NOTHING!!
    They took the risk, risk that you wouldn't take so why shouldn't they keep what they earned? How does that hurt you? Looks to me like you want to pick and choose what someone else makes, why? What gives you that right?

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