Yes,less taxes mean more investment.......... OVERSEAS, because that's exactly what happened.<quoted text>
The same thing Clinton did to get the economy rolling during his years in office. Lower taxes and you get more interested investors. How does that help the little guy?
Well I don't know about you, but my IRA is invested in the market. In fact, during the lowest part of the crash, my investment company poured a ton of my money into buying shares. It was like taking advantage of a 2 for 1 sale. That will help me greatly come retirement time when we are out of SS money.
Also when Bush cut taxes, my employer purchased a whole new fleet of trucks not to mention he hired two additional employees. Plus it brought in record revenues for the government:
As far as real dollars are concerned, here is a NYT Republican bash piece on letting the tax cuts expire. The reason I saved this article if for one, it's a totally liberal paper, and two, their numbers are correct when it comes to how much money we would have gained by allowing the tax cuts to expire:
"LET THE BUSH CUTS EXPIRE Mr. Obama vowed to let the high-end tax cuts (for people making more than $250,00) expire in 2010. But in a preview of the debt fight, he agreed to extend the cuts for two more years when Republicans held unemployment benefits and other measures hostage.
Letting all of the cuts expire at the end of 2012 would save $3.8 trillion over the next decade. Letting the tax cuts expire for those making more than $250,000 would save $700 billion. That would make a real dent in the $2.4 trillion in total deficit reduction envisioned in the debt limit deal."
So what this article points out is if DumBama's tax plan went through, letting the tax cuts expire for those making over $250,000 would only net us 70 billion a year. That's less than we spend on food stamps every year. But more importantly, it shows that most of the tax cuts were enjoyed by people making less than $250,000 per year.
Glad your 401k, worked out.
Too bad Enron's didn't and thousands more like it.
They just needed more tax breaks.
Companies should get tax breaks AFTER they create U.S. jobs, not before.
Instead they not only got tax breaks, they got tax incentives, they get free land, free buildings, free roads, 30 year property tax exemptions etc. all to create a hundred,$10.00 hr. jobs.
Or they just closed shop after the government money ran out.