If there’s one person most often associated with the origins of of trickle-down economics, it’s President Ronald Reagan. Few people know, however, that the phrase was actually coined by American humorist Will Rogers, who mocked President Herbert Hoover’s
"PublicAnimalNo9" said Of course it's a joke. But wealth redistribution, that's clearly on the up and up though.
Billionaire Microsoft co-founder Bill Gates is worth an estimated $91.8 billion, and he pays billions in taxes to the federal government. But he says he should be paying even more.
"I need to pay higher taxes," he told CNN's Fareed Zakaria during a recent interview. "I've paid more taxes, over $10 billion, than anyone else, but the government should require people in my position to pay significantly higher taxes."
. ..
Fellow billionaire Warren Buffett agrees. "I don't think I need a tax cut," Buffett told CNBC regarding reform efforts.
Buffett, who's worth an estimated $87.2 billion, specifically spoke out about the estate tax, which is levied on assets transferred from one person to another at the time of death. He said eliminating it would be a "terrible mistake " because the current system in America vastly favors the rich.
In theory, he could leave billions each to his children and grandchildren, who wouldn't have to pay taxes to inherit it. "If they were lucky enough to come out of the right womb and have the right name, Buffett, they could build tombs for themselves like Egyptian pharaohs never dreamed of," he said.
"I sure don't think it's good for a society where there's a ton of inequality to start with. I think that's a terrible mistake," he added.
They can pay my Taxes at the end of this year if they want. Just guessing here but IF I hit it good a couple more times I might just OWE at the end of the year. First world problem.
Art Laffer, most recent recipient of the Presidential Medal of Freedom, made a huge contribution to the world in the way he showed how easy it was to gin up a license to steal out of thin air when he wrote down the basics of trickle-down economic piracy on a cocktail napkin for the other pirates and reavers in the conservative movement. Every wealthy person on the planet should have a portrait of Laffer on the wall of their inner sanctum that they bow in front of, or masturbate in front of, at least once per day as thanks for what he did for them.
"Thanos" said Art Laffer, most recent recipient of the Presidential Medal of Freedom, made a huge contribution to the world in the way he showed how easy it was to gin up a license to steal out of thin air when he wrote down the basics of trickle-down economic piracy on a cocktail napkin for the other pirates and reavers in the conservative movement. Every wealthy person on the planet should have a portrait of Laffer on the wall of their inner sanctum that they bow in front of, or masturbate in front of, at least once per day as thanks for what he did for them.
Uh, no.
Laffer demonstrated that when you raise taxes too high you end up reducing government revenues.
"BeaverFever" said If only the Right-wing trickledown architects Reagan and Thatcher could apologize from beyond the grave for all the millions of lives they’ve ruined.
That was truly funny, thank you for the laugh.
Right after, we can get the leftist bastards out to apologize for the BILLIONS of lives they simply liquidated.
I wanted to see some little Proggies strutting around like pigeons before I ripped this claim with the obvious.
Thanks for not disappointing.
Now...Let's deal with this "devastating takedown" by an "IMF report," shall we?
First of all, it's not a report. Here, let's let the IMF itself tell you what it really is.
DISCLAIMER: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published to elicit comments and to further debate
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Shocked, I am.
Of course it's a joke. But wealth redistribution, that's clearly on the up and up though.
"I need to pay higher taxes," he told CNN's Fareed Zakaria during a recent interview. "I've paid more taxes, over $10 billion, than anyone else, but the government should require people in my position to pay significantly higher taxes."
. ..
Fellow billionaire Warren Buffett agrees. "I don't think I need a tax cut," Buffett told CNBC regarding reform efforts.
Buffett, who's worth an estimated $87.2 billion, specifically spoke out about the estate tax, which is levied on assets transferred from one person to another at the time of death. He said eliminating it would be a "terrible mistake " because the current system in America vastly favors the rich.
In theory, he could leave billions each to his children and grandchildren, who wouldn't have to pay taxes to inherit it. "If they were lucky enough to come out of the right womb and have the right name, Buffett, they could build tombs for themselves like Egyptian pharaohs never dreamed of," he said.
"I sure don't think it's good for a society where there's a ton of inequality to start with. I think that's a terrible mistake," he added.
https://www.cnbc.com/2018/02/21/bill-ga ... -more.html
No one is stopping Bill Gates from paying more taxes. All he needs to do is to stop taking deductions.
He and Warren Buffet have transferred something like $50B into The Gates Foundation. Look them up, if you don't know what they do.
Art Laffer, most recent recipient of the Presidential Medal of Freedom, made a huge contribution to the world in the way he showed how easy it was to gin up a license to steal out of thin air when he wrote down the basics of trickle-down economic piracy on a cocktail napkin for the other pirates and reavers in the conservative movement. Every wealthy person on the planet should have a portrait of Laffer on the wall of their inner sanctum that they bow in front of, or masturbate in front of, at least once per day as thanks for what he did for them.
Uh, no.
Laffer demonstrated that when you raise taxes too high you end up reducing government revenues.
Like in Venezuela, Detroit, Illinois, etc.
If only the Right-wing trickledown architects Reagan and Thatcher could apologize from beyond the grave for all the millions of lives they’ve ruined.
That was truly funny, thank you for the laugh.
Right after, we can get the leftist bastards out to apologize for the BILLIONS of lives they simply liquidated.
Ruined lives.. priceless.
No one is stopping Bill Gates from paying more taxes. All he needs to do is to stop taking deductions.
He and Warren Buffet have transferred something like $50B into The Gates Foundation. Look them up, if you don't know what they do.
So they divert profit from taxable income into non taxpaying foundations,
instead of just paying taxes. How wonderful for them.
Thanks for not disappointing.
Now...Let's deal with this "devastating takedown" by an "IMF report," shall we?
First of all, it's not a report. Here, let's let the IMF itself tell you what it really is.
https://www.imf.org/external/pubs/ft/sd ... dn1513.pdf
So basically you have somebody else who'd like to enter the debate.
Very well, here's the link that I think the OP was trying unsuccessfully to link to.
https://psmag.com/economics/trickle-dow ... eed-a-joke
Go ahead, little proggie pigeons, actually read it then come strut some more. Let's see what happens.
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