(no subject)
I tend to be a fiscal conservative, but this notion that we're sitting at 9.8% unemployment because the rich and corporations are somehow overtaxed is absolutely absurd.
US corporations reported their highest profit in 60+ years last quarter. Our largest corporations' effective tax rate for the past three years has been on the order of 2.4%. The top bracket individual tax rate is the lowest it's been since the 1920's. And instead of suffering from decades of supposedly socialist income redistribution, the disparity between rich and poor hasn't been this high since before the Great Depression.
Time to come up with a better argument, guys.
One of the reasons the rich aren't hiring is because they're sitting on years of un-purchased inventory. Even with gobs of cash on hand, there's no need to hire anyone if you don't need to produce any more than what you already have because nobody's buying.
The whole thing is a massive Catch-22, and our supposed leaders in Washington are too wrapped up in their petty arguments to come up with anything more than talking points.
US corporations reported their highest profit in 60+ years last quarter. Our largest corporations' effective tax rate for the past three years has been on the order of 2.4%. The top bracket individual tax rate is the lowest it's been since the 1920's. And instead of suffering from decades of supposedly socialist income redistribution, the disparity between rich and poor hasn't been this high since before the Great Depression.
Time to come up with a better argument, guys.
One of the reasons the rich aren't hiring is because they're sitting on years of un-purchased inventory. Even with gobs of cash on hand, there's no need to hire anyone if you don't need to produce any more than what you already have because nobody's buying.
The whole thing is a massive Catch-22, and our supposed leaders in Washington are too wrapped up in their petty arguments to come up with anything more than talking points.