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Thread: Warren Buffet: 'Trickle Down' Theory Doesn't Work

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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by Mensch View Post
    If it means cheaper products here in the U.S. and more money to spend on other things, that certainly would help create jobs.
    We've given financial deregulation and trickle down economics 30 years, and that hasn't happened for the middle class. There is no simply incentive for the middle class to keep voting for tax cuts for the wealthy. Sorry.
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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by TurtleDude View Post
    You fail to note that those who gain wealth do so mainly by providing value to those who trade with them
    Bull****. Ever heard of old money?

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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by Catawba View Post
    We've given financial deregulation and trickle down economics 30 years, and that hasn't happened for the middle class. There is no simply incentive for the middle class to keep voting for tax cuts for the wealthy. Sorry.
    I was only responding to the overseas investments claim. Deregulation works. Regulation creates the revolving door and there is almost nothing anyone can do to prevent that, except to deregulate. Regulation creates the incentive to lobby. It hurts small businesses more than big corporations who are capable of hiring an army of accountants, lawyers, and lobbyists to extract the highest benefit from the regulatory structure. Look at our politicians, especially the ones promoting financial regulation and oversight, and notice how well they profit in their private lives by giving favors.

    You should check out the site OpenSecrets.org: Money in Politics -- See Who's Giving & Who's Getting sometime and see how regulatory politicians play the roles of both baptist and bootlegger.

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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by Catawba View Post
    Only if you ignore that a consumer economy requires consumers to prosper.
    Not at all.

    The cartoon did depict a cycle, after all.

    Translated, it means: Money to spend = consumers to buy stuff = jobs = money to spend = (continue in a cyclical fashion).
    How, exactly, does my statement that “less taxes = more money to spend” disagree with that?



    Quote Originally Posted by Catawba View Post
    Then you must be unaware that moderators have repeatedly warned not to bring political debate to the cartoon thread.
    That is not what I meant. I meant that, as a cartoon, quite likely multiple liberties with reality had been taken – like a simplification of such for the purposes of prompting a laugh/reaction out of people.




    Quote Originally Posted by Catawba View Post
    The tax cuts for the rich were sold to the middle class that they would produce jobs in this country. Overseas investments do not provide jobs in this country.
    Did I say otherwise?
    I was simply arguing that, if you place tax cuts of ANY kind within the framework that image presents, they equal more money to spend. The image does not take into account WHERE said money is spent.
    Quote Originally Posted by Catawba View Post
    India and China's middle class is doing better while our own declines. Hell of a deal!!!
    Personally, I would suggest tax incentives/cuts directed towards creating a business environment that is more attractive than overseas locations can provide.

    Of course, lower standards of living in places like India and (especially) China make that more difficult.
    Last edited by The Mark; 02-23-12 at 09:41 PM.
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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by Mensch View Post
    I was only responding to the overseas investments claim. Deregulation works. Regulation creates the revolving door and there is almost nothing anyone can do to prevent that, except to deregulate. Regulation creates the incentive to lobby. It hurts small businesses more than big corporations who are capable of hiring an army of accountants, lawyers, and lobbyists to extract the highest benefit from the regulatory structure. Look at our politicians, especially the ones promoting financial regulation and oversight, and notice how well they profit in their private lives by giving favors.

    You should check out the site OpenSecrets.org: Money in Politics -- See Who's Giving & Who's Getting sometime and see how regulatory politicians play the roles of both baptist and bootlegger.
    Deregulation is what created banks too big to fail, unsecured derivatives, and a housing crisis that brought us to the brink of another Great Depression.
    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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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by Top Cat View Post
    Bull****. Ever heard of old money?
    Yeah, I am a Longworth-look it up.

    but the fact remains, my point is valid. Old money is invested just like new money. and guess who funds tons of the charitable trusts and foundations that enrich this nation

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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by The Mark View Post
    Not at all.

    The cartoon did depict a cycle, after all.

    Translated, it means: Money to spend = consumers to buy stuff = jobs = money to spend = (continue in a cyclical fashion).
    How, exactly, does my statement that “less taxes = more money to spend” disagree with that?
    How does half the country being in or near poverty as a result of most of the money being concentrated at the top = more money for consumers to spend???



    That is not what I meant. I meant that, as a cartoon, quite likely multiple liberties with reality had been taken – like a simplification of such for the purposes of prompting a laugh/reaction out of people.
    I don't know what you are trying to say there.


    Did I say otherwise?
    I was simply arguing that, if you place tax cuts of ANY kind within the framework that image presents, they equal more money to spend. The image does not take into account WHERE said money is spent.
    Personally, I would suggest tax incentives/cuts directed towards creating a business environment that is more attractive than overseas locations can provide.
    We know much of the money is not being spent to create jobs in this country, which is how the tax cuts for the wealthy were sold to the middle class. The Democrats have a bill to end tax breaks for companies that outsource jobs and provide tax incentives for creating jobs in this country and it was blocked by the GOP. When the Republicans spoke of trickle down, we thought it meant more jobs, not just being pissed on.

    Of course, lower standards of living in places like India and (especially) China make that more difficult.
    Make what more difficult?
    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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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by Catawba View Post
    Deregulation is what created banks too big to fail, unsecured derivatives, and a housing crisis that brought us to the brink of another Great Depression.
    HOW, exactly? When you have government picking winners and losers and commanding a corporatist structure, how did deregulation cause the housing crisis? NOTHING in the market is too big to fail unless you have a government who refuses to let troubled banks fail. The CRA, the Federal Reserve, and GSEs caused this recent crisis.

    Again, look at the statistics. The people responsible for regulating, responsible for saving banks, have vested interests in the banks that get saved and the markets that are regulated. If you want money out of politics, then build a wall separating government from Wall Street. Otherwise, businesses and governments will ultimately collude. Again, it is baptists and bootleggers working for a common goal.
    Last edited by Mensch; 02-23-12 at 10:34 PM.

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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by Catawba View Post
    How does half the country being in or near poverty as a result of most of the money being concentrated at the top = more money for consumers to spend???





    I don't know what you are trying to say there.




    We know much of the money is not being spent to create jobs in this country, which is how the tax cuts for the wealthy were sold to the middle class. The Democrats have a bill to end tax breaks for companies that outsource jobs and provide tax incentives for creating jobs in this country and it was blocked by the GOP. When the Republicans spoke of trickle down, we thought it meant more jobs, not just being pissed on.



    Make what more difficult?
    If you want to stop being pissed on maybe one should stop groveling to the rich democrat masters you worship

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    Re: Warren Buffet: 'Trickle Down' Theory Doesn't Work

    Quote Originally Posted by Catawba View Post
    How does half the country being in or near poverty as a result of most of the money being concentrated at the top = more money for consumers to spend???
    When we had a thriving economic cycle and a near zero unemployment rate, money was still concentrated at the top. That is obviously not the problem.

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