(January 11, 2013 at 2:50 pm)downbeatplumb Wrote: Rich people do not create wealth for anyone else. They are rich because they keep hold of the money.
http://www.bloomberg.com/news/2010-09-13...-says.html
Quote:Give the wealthiest Americans a tax cut and history suggests they will save the money rather than spend it.
Tax cuts in 2001 and 2003 under President George W. Bush were followed by increases in the saving rate among the rich, according to data from Moody’s Analytics Inc. When taxes were raised under Bill Clinton, the saving rate fell.
The findings may weaken arguments by Republicans and some Democrats in Congress who say allowing the Bush-era tax cuts for the wealthiest Americans to lapse will prompt them to reduce their spending, harming the economy.