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Sat 10 Apr, 2004 01:55 pm
There are prominent noble prize winning economists that argued both sides.
I say no...
There can be no room for corporate expansion into new fields without demand.
No matter how cool the next corporate product ends up being, if many people are so deep in debt that they can't afford, they aren't going to buy it, and the incentive for companies to expand decreases.
Corporations already have billions upon billions sitting in their banks.
It's not because of a lack of money that they aren't investing in new products, it's because of a lack of spending power. more and more people are heavily in debt, more and more are unemployed and poor, more and more can't afford to buy their products, even if they make them.
Demand is what fuels our economy, not supply. demand is what feuls progress and new discoveries, not supply. where there's a need, there's a way. not the other way around.
Give to the middle class i say, they are the ones that are going to spend it. Not the top 5% who are just going to throw their tax cut on the pile and move on.
A few million dollars in tax cuts to a corporation that has billions in the bank already isn't going to convince them to hire more people.
This is why bush's defecit spending/ tax cuts that predominantly aid the rich (the top one percent got something like 36% of the tax cuts while the bottom 60% got a meager 12.7% of the tax cuts!!!) pisses me off.
As posted by alshal....
People who make more money have more of a responsibility to pay more taxes. The top 1% get rich off of the middle class and lower because of the work and services they provide and the money they spend on products and services. You have to spend money to make money.
Its like an investment; make sure that people that do the work for you are well taken care of and want and have the money to spend to buy whatever it is that you get rich off of.
You know, the funny thing that people never realize about tax cuts is that the money has to come from somewhere. Sure, it's nice to get $300 back once in awhile, but that money is taken away from so many government funded programs its sick. Localy, so many after school activities, enrichment activities, education oportunities and the like have been either reduced or gotten rid of all together.
There is no free public bussing for ANY High School student here, they have to pay like $150 a year per kid to get to ride the bus, and this is the second largest city in Michigan. If you live too far from school, you have to either transport the elementary or middle student to a school bus stop or take them your self. After school programs that didnt get cut also have no bussing, so that means parents who relied on these things to keep their child safe and off the streets have to worry about getting off early or letting their kids walk home.
Other things like adult education and the like have also suffered because of these great tax cuts. It takes money from the government, both federal and state, so everyone who isnt upper middle class or wealthy suffers greatly from these kinda things.
The needs of the many outweigh the needs of the few. I would rather pay more taxes; sales, state, federal whatever, to ensure that people had jobs, kids had good schooling and the neady would be taken care of.
How would you like it if your college had to hike up tuitions by a few thousands because Bush was irresponsible with money and cut funding to state's education programs. Odds are, if you're college is any thing like the average college, it did.
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