AP says 90% of Workers get Tax Cut

[Brian37]

Hey, fuckface, explain to me then what Apple's $285bn cash pile is doing? If the rich are so mad to invest their money, why does the company have such a huge pile of cash sloshing around between Bermuda and the IFSC?

They have huge piles of cash offshore because the corporate tax rate in America has been 35%. Now that the rate is being lowered to be in line with the rest of the world, money is coming back to the US.

Yea and? WE FUCKING KNOW the rich blackmail the public. IT IS BLACKMAIL, not patriotism. 

"If you don't let me exploit you, I'll take my business elsewhere."

YEA we fucking know this, only the gullible think this is good policy.

FYI moron, go look up our economic tax code history, it was a SHTITLOAD higher after WW2, you know, the BOOM that create our middle class.

You are being played moron and your too stupid to see it!

[John V]

I've left your shit visible this long because, while useless, it's at least been amusing. But for the past couple months there have been too many insults. You don't need to call people morons and worse in every post. Keep it up and you're going on ignore.

[Brian37]

I've left your shit visible this long because, while useless, it's at least been amusing. But for the past couple months there have been too many insults. You don't need to call people morons and worse in every post. Keep it up and you're going on ignore.

You can laugh all you want moron. 50 Republican law agents would disagree with you and warned us what 45 would do, and we are CURRENTLY seeing that play out now.

Oh I am sorry, but our global stability is not a game, our economy is not a game. You think the worst thing in the world is being called a "moron"? 

Yet you support A FUCKING ASSHOLE who has used politics to shit on entire nations, entire religions, the military service of TWO war vets, crapped on intel, still crapping on intel even today.

The days of being polite flew out the window when your orange goon ran his campaign the way he did. 

No sorry, if you support 45, you picked the wrong side of history. The GOP is not the party of Lincoln, it is not the party of Teddy, it is moving to a very dangerous position and it has a head that is eroding our public trust. 45 is Nixion on meth. If you want me to coddle your insecurities, nope, wont do that.

[John V]

OK, I generally don't actually put people on ignore, but in your case I'll make an exception. Later.

[Brian37]

OK, I generally don't actually put people on ignore, but in your case I'll make an exception. Later.

Good. Fine with me. I am sure others will be happy to pick up where I left off.

[DLJ]

So?

The RATIO that the top gets, negates the crumbs the rest of the bottom two classes get. THAT is the SCAM Reagan started and the GOP has sold ever since.

What difference does income inequality make?

I got a 5% raise this year. My billing rate was increased 7%, so the gap between me and my boss widened. Why should that bother me?

Just curious... have you read any studies on causes of crime?

You'll find a direct correlation between high crime rates and status inequality.  

In biological terms it's about sexual selection.  Lower-order males need to find ways to raise their status to gain breeding rights.  Sometimes that involves theft, sometimes murder.  Some will band together to remove an aggressively dominant pack leader.

Economically, this is about the Pareto Distribution (think about how the game Monopoly™ works).

In human terms see, French, Russian, English, Chinese Revolutions.

Wiley elites saved themselves by heeding Marx's warnings and creating state-funded social programs (schools, housing) instead of leaving it to philanthropists.

Medieval elites would hold tourneys to entertain the proles while they built higher castle walls.  Earlier... Colosseum... same reason.

As Mark Blyth put it, "The Hamptons is not a defensible position".  They are letting you eat cake... today.

...
What exactly do you think the people at the top do with that money? Horde it in a vault like Scrouge McDuck? They invest it in businesses and ventures that provide jobs and build the wealth of nations. Have you ever job from a poor man?

It's a myth that rich people create jobs.

Consumption creates demand.  Demand creates supply.  Some clever people create/expand businesses to organise supply and create jobs and might get rich in the process.  Consumption is the key.

Spread the profits and more people can consume.  If the consumers are skint it all grinds to a halt.  This is why some countries are considering Guaranteed Minimum Income strategies.

...
They have huge piles of cash offshore because the corporate tax rate in America has been 35%. Now that the rate is being lowered to be in line with the rest of the world, money is coming back to the US.

"Hey there!" says the Rest of the World, standing on the street corner in high heels and underwear, "No need to go back to your wife.  We've cut our rates again."

Then what?

[Brian37]

What difference does income inequality make?

I got a 5% raise this year. My billing rate was increased 7%, so the gap between me and my boss widened. Why should that bother me?

Just curious... have you read any studies on causes of crime?

You'll find a direct correlation between high crime rates and status inequality.  

In biological terms it's about sexual selection.  Lower-order males need to find ways to raise their status to gain breeding rights.  Sometimes that involves theft, sometimes murder.  Some will band together to remove an aggressively dominant pack leader.

Economically, this is about the Pareto Distribution (think about how the game Monopoly™ works).

In human terms see, French, Russian, English, Chinese Revolutions.

Wiley elites saved themselves by heeding Marx's warnings and creating state-funded social programs (schools, housing) instead of leaving it to philanthropists.

Medieval elites would hold tourneys to entertain the proles while they built higher castle walls.  Earlier... Colosseum... same reason.

As Mark Blyth put it, "The Hamptons is not a defensible position".  They are letting you eat cake... today.

...
What exactly do you think the people at the top do with that money? Horde it in a vault like Scrouge McDuck? They invest it in businesses and ventures that provide jobs and build the wealth of nations. Have you ever job from a poor man?

It's a myth that rich people create jobs.

Consumption creates demand.  Demand creates supply.  Some clever people create/expand businesses to organise supply and create jobs and might get rich in the process.  Consumption is the key.

Spread the profits and more people can consume.  If the consumers are skint it all grinds to a halt.  This is why some countries are considering Guaranteed Minimum Income strategies.

...
They have huge piles of cash offshore because the corporate tax rate in America has been 35%. Now that the rate is being lowered to be in line with the rest of the world, money is coming back to the US.

"Hey there!" says the Rest of the World, standing on the street corner in high heels and underwear, "No need to go back to your wife.  We've cut our rates again."

Then what?

It is a myth the rich create jobs.

^^^^^^^^^^^

BINGO

Only demand creates jobs. And since the bulk of the population are NOT business owners, but workers, that makes the demand driven by workers, not owners. So when workers do better businesses do better.

Unfortunately corporate marketing has not been for a long time demand driven, but a competition for CEOs and shareholders, which basically is marketing driven, and not market driven.

[John V]

Just curious... have you read any studies on causes of crime?

Some, not many. Maybe you could post some...

You'll find a direct correlation between high crime rates and status inequality.

Have you read any studies on crime victims? Poor people are more likely to be victims than rich people. Not sure why income inequality would cause poor people to prey on each other.
 

In biological terms it's about sexual selection.  Lower-order males need to find ways to raise their status to gain breeding rights.  Sometimes that involves theft, sometimes murder.  Some will band together to remove an aggressively dominant pack leader.

And they do it mostly within their own economic group.

---

It's a myth that rich people create jobs.

Consumption creates demand.  Demand creates supply.  Some clever people create/expand businesses to organise supply and create jobs and might get rich in the process.  Consumption is the key.

Spread the profits and more people can consume.  If the consumers are skint it all grinds to a halt.  This is why some countries are considering Guaranteed Minimum Income strategies.

Those clever people work really hard to create those jobs, and they're not going to do so if they don't stand to make a good buck from it.

"Hey there!" says the Rest of the World, standing on the street corner in high heels and underwear, "No need to go back to your wife.  We've cut our rates again."

Then what?

Then we cut as well, and make it up on the individual side. The rest of the world can only go so low.

[The Grand Nudger]

I think it's ironic that the "10%", the upper middle class..who actually do create jobs, are the ones that will be seeing a rate hike now and a bigger one in future.  

This was broken down last year, with state by state percentages of who, and what income bracket, would see the hike.  In my state.

4% of people making 21-37k will see an increase.  7% of people making 37-56k will see an increase.  5% of people making 56-96k will see an increase.  Below and above those numbers all will see a decrease, though the decrease for those below amounts to about pennies, and for those above...well, the skies the fuckin limit, lol. 

In other states, those who will see an increase largely come from the upper third bracket..and depending on the value of real estate and the rates of state and local taxation, and can be up to a 16% of individuals in that bracket. 

The middle class is having their wealth redistributed..marginally, to poor people..but mostly to their wealthier betters.  Yay, tax relief!  

[Shell B]

I love it when people declare a huge economic overhaul a win a few weeks into its implementation (an incomplete one, I should add). I'm not saying the end-world scenarios are correct, but rather that your victory dance is at least 20 yards from the end zone.