US billionaires' fortunes have skyrocketed $845 billion since March

Along with his other seven hundred and fifty thousand employees... the amazing surge of growth he's indeed.

 

Did you forget that's a business, not a person?
Did your friend give you that one?

 

Every wealthy needs some people to serve him/her, starting with doorman, valet, butler, prostitutes and more - the only question is: this is a trickle-down the big way or the scanty way?
How the wealth of baby Doc (François Duvalier) trickled down to Haitian people? According to you the trickle down was the big way, because he needed not only doorman, valet, butler and prostitutes, but soldiers too!

 

No. The example of a trickle-down in a booming economy would be a rich person contracting a craftsman to create something extraordinary that the craftsman would get paid for lavishly.

 

Oh boy...

 

I don't know, but isn't that the way it works? The less corporate taxes a nation has, the more a corporation would want to stay. Wouldn't it also produce jobs for the nation that hosts them? Of course stopping all the litigation would help too.

 

You flipped the subject on me creating a straw man fallacy to misrepresent my position. My comment addressed your implied position that it is bad for people to make a lot of money. You then respond by addressing lobbying, government run by an oligarchy, disparate tax laws for rich and poor, health care and so forth.

 

Sorry? I am not going to insult you but it think you better look at it again because a lot of people here have “got it”

 

What I get is that trickle down economics is a theory addressing reducing taxes on business, a subject that was not even addressed in the OP. No, this thread is simply about envy of successful people who are providing goods and services that society wants and needs. BTW, that horrible company profit is what funds most people's retirements.

 

Why has it been a failure in your opinion?

 

I didn't need more examples of your deflecting instead of admitting your initial error. Spin, rinse, repeat. No wonder you're a Trump supporter ... no honor.

 

The less corporate taxes a nation has, the less resources that nation has for the benefit of its people.

Who made American corporations so rich? We did ... the workers and the consumers. Their taxes were already low enough, with loopholes big enough to drive oil tankers through. A few years back, even before Trump's tax cuts, GE had a couple of years of massive orofits for which they paid zero in taxes. That's just one example. Since the cuts, companies like Amazon have enjoyed the same tax-free status.

I don't know of any companies that have relocated even a fraction of their base and support to our shores as a result of the huge tax cut. If you know of any, please share.

It's my opinion that paying a fair share of their enormous profits to benefit the people who made them rich is the least they can do. If we the people continue to see our incomes reduced or just stagnated, who is going to continue to have enough money to buy their goods and services?

There has to be some give and take in all capitalist transactions, but for years now, it's been all take and very little give.

 

Because the Laffer Curve (the basis of trickle down economics) only works when taxes range from a 100% tax rate down to about 50%. If the tax rate falls below this so-called prohibitive range, then more cuts won't stimulate economic growth enough to offset the lost revenue.

https://www.thebalance.com/trickle-down-economics-theory-effect-does-it-work-3305572

"Trickle-down economics generally does not work because:

• Cutting taxes for the wealthy often do not translate to increased rates of employment, consumer spending, and government revenues in the long-term.
• Instead, cutting taxes for middle-and lower-income earners will drive the economy through the trickle-up phenomenon.
• The added income for the wealthy, resulting from tax cuts, will simply increase the growing income inequality in the United States."

 

Has Trump even championed trickle down economics?

 

It is a private company. It's financials aren't public.

 

'Cept there is nothing radical about making fun of radicals.

 

OK, here are my answers to your questions:


Do you think the economy is a zero sum game? Is so please explain.

No, economy is not zero sum game, but economy has some rules. In some countries the rules protect working people (like limiting number of hours workers can work, safety of workers, the right to organize) and in some countries the rules protect the wealthy (like lower tax rate, no right to organize, no minimum wage)


How have you been exploited by these people?
I have a good pay job and I wasn’t exploit by these people, but some people are less fortunate:
https://www.theguardian.com/technol...-protest-unsafe-grueling-conditions-warehouse


"Envy is the Religion of the Mediocre" - Carlos Ruiz Zafon.
“Calling the right to just salary and the right safe working condition the “envy” is the religion of the greedy” – Zalek Bloom


Why should the money earned by someone else by providing goods and services that people want to pay for trickle down to you? What makes you incapable of earning your own money?

We are not talking about “me” or “you”, I don’t care about you and I hope you don’t care about me – we are talking about America, where we have millions of homeless and ‘normal’ poor people. The question is if the wealthy, who made billions in this difficult time need "trickle down" some of the extra profits to help less fortunate Americans. My answer is yes, but you have a right to say “no”.

 

Businesses aren't benevolent entities that care about providing jobs, etc. They care about maximizing profits.

Lower taxes might lure them back to the US but only if they can make the same profit in the US, in which case there's something to gain - the lower tax rate would allow them to keep more of that same amount of profit.

However for most businesses, this isn't going to be the case. They will be less profitable in the US, due to higher costs - which is why they're located overseas in the first place.

No business in its right mind will choose to be less profitable in order to pay a lower percentage of tax on those profits. It’s utterly self-defeating. Sure, they’ll be paying less tax but the amount left in their pocket will be much lower too.

 

Impressive yacht. It has been the cause of many jobs.

 

Given the innumerable other taxes available to be laid on any number of things, this is not in -any- way necessarily so.

 

If trickle down economics didn't work, then why was Ronald Reagan - with what the Democrats labelled 'voodoo' economics - able to pull us out of the recession and throw us into a prosperity that lasted for decades?

 

In Europe and the Mid East.

 

You are incorrect. He had to work and has been working ever since. A fool and his money are soon parted.

 

No honor, says Democrat

 

Yes. And these many workers are undoubtedly thanking America, Bezos and Trump.