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To: E. Pluribus Unum
"The rich" got to be "the rich" by investing their excess income in businesses that generate profits and taxes and employ people who pay taxes on the wages they receive from those businesses.

All of them? Really?

I think there are a good many rich people who inherited money and invested overseas. That doesn't create a single American job. So let's quit with the fantasy that all we need to do to create jobs is cut taxes, because it just doesn't sell, as is confirmed by the polls. The leverage in decreasing regulations is far greater in terms of both net revenue and GDP.

The principal benefit of cutting corporate taxes does is attracting foreign investment. Without cutting regulations, that won't happen anyway.

17 posted on 10/06/2012 5:21:32 PM PDT by Carry_Okie (GunWalker: Arming "a civilian national security force that's just as powerful, just as well funded")
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To: Carry_Okie
That doesn't create a single American job. So let's quit with the fantasy that all we need to do to create jobs is cut taxes, because it just doesn't sell, as is confirmed by the polls.

So morality is defined by polls.

I wasn't aware of that. Thanks for the heads-up.

22 posted on 10/06/2012 6:28:28 PM PDT by E. Pluribus Unum (Government is the religion of the psychopath.)
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To: Carry_Okie
I think there are a good many rich people who inherited money

Every year FORBES magazine features the 400 richest people in the world. Every year I go through the list to see how many inherited their money. It's always a very small percentage. Most of those on the list Got their money through some kind of entrepreneurial activity.

I used to teach Multinational Corporate Management. One of the reasons for investing in a foreign country is to place a factory inside that country's tariffs and other trade barriers. This is usually better than trying to manufacture in the US and then exporting.

26 posted on 10/06/2012 6:55:29 PM PDT by JoeFromSidney ( New book: RESISTANCE TO TYRANNY. Buy from Amazon.)
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To: Carry_Okie

“I think there are a good many rich people who inherited money and invested overseas.”

Then you have not studied wealth in the United States. Over 90% of the “wealthy” are 1st generation business owners. They ARE the job creators. See http://www.ncpa.org/pdfs/st289.pdf


35 posted on 10/07/2012 1:07:16 AM PDT by narses
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To: Carry_Okie
I think there are a good many rich people who inherited money and invested overseas. That doesn't create a single American job. So let's quit with the fantasy that all we need to do to create jobs is cut taxes, because it just doesn't sell, as is confirmed by the polls. The leverage in decreasing regulations is far greater in terms of both net revenue and GDP.

The US does not tax wealth -it taxes income. As such when money is inherited it is with few exceptions already taxed once -are you suggesting it be taxed more or that wealth be redistributed if inherited?

I would suggest that reducing taxes is always good.

48 posted on 10/07/2012 10:43:56 PM PDT by DBeers (†)
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