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originally posted by: links234
a reply to: ketsuko
You should look at it as a rate rather than the pure number, $100 to someone who makes $10,000/year isn't the same as $100 to someone who makes $100,000/year. Over and over we see that when you make poor people pay more money in taxes the economy slows because they have less to spend on goods and services. When you make rich people pay less we see the economy slow because they don't spend more on goods and services, they reinvest it in themselves (more in savings/investments). When the economy slows people lose jobs, when people lose jobs the economy slows more.
It's like this dumb argument that rich people already pay more in taxes than everyone else...well...duh, they make all the money. You can slash their tax rate in half and they'll still pay a higher dollar amount then everyone else because they make so...much...more money.
Eight people own more wealth than 50% of the entire world right now. America hasn't seen wealth disparity this sharp since before the Great Depression. So yeah....support the tax bill now but try not to jump off a building in the next decade.
CBO’s two-year forecasts of output growth and inflation have been less biased than its two-year forecasts of interest rates and the growth of wages and salaries, which exhibit a sizable upward bias—that is, they have tended to be higher than actual values by a larger amount.