Am I the only one who sees the irony here?
Am I the only one who sees the irony here?
His last line is just the funniest thing to me. It's like child logic.
Help the American people!
I can understand why one would argue that hiring a lot of teachers, firefighters, and police officers wouldn't be the best idea right now, as funding is virtually non existent.
However, Mitt Romney is making no sense.
We could.. you know.. raise taxes and hire more people, creating more jobs. Not private sector jobs, but they're still jobs that will feed families and help stimulate an economy.
Sometimes I wonder if politicians actually know what they are saying, or if they are just spouting a bunch of loosely related government terms and then end with "Help America!!!!!!!" to make it sound like they actually meant something.
Sad part is people actually support this guy, of all things to be concerned about
Now I may be wrong, I'm just going off of the few stories I have heard of Bain Capital. If you could link me to some stories of them just being outright ruthless, I would appreciate that.
You should be angrier at the CEOs who let the company get there in the first place.
Police? No, we have more than enough and its already a money sink. Firemen and teachers i agree with though.
You don't employ these people because it benefits the economy, you employ them because it serves the public. Teachers may help benefit in the long term, but not the short term.
Also, raising taxes is a bad idea for economic stimulus.
I feel like you may have misunderstood what I was saying.
Raising taxes does not help with economic stimulus, but cutting taxes does not create jobs.
Yeah! Fuck public safety and education!
I think it's just a bit of a non-point to say that creating more teachers and firefighters will help the economy because you don't create these jobs specifically to help the economy, and they are less efficient than other methods of economic stimulus.
When taxes are cut, companies pocket the excess. When taxes are high, they reinvest their profits instead of paying the top tax rate.
Jobs are created based on if they can offset the long term cost of that position based on the profit they plan to gain. Not because the tax is 30% and not 35%.
Higher taxes force companies to reinvest, because companies would rather reinvest than pay more in taxes.
When taxes are cut, they take pocket the excess. History has proven it.
Even my far-right conservative, Obama's a muslim, his birth certificate is fake, economics teacher said you will not fix the deficit without raising taxes. Anyone who tells you that is lying.
Correlation =/= causation. The reason why growth was high during times of higher taxes is due to other variables in the economy. In fact, high taxes are beneficial to economies during times of high growth because it helps control money supply and lower debt. The problem is that the taxes are done in response to periods of economic growth, they aren't done to spur economic growth.
Also, deficit and economic growth are two different things. You do need to raise revenue to decrease the deficit, but the deficit is not something that needs to be lowered during times of economic recession and recovery. The debt needs to be raised, because stimulus needs to be done. Of course care has to be taken to make sure debt is still controlled, but we are not at a point where our debt will run away from us yet.
Though I still have a hard time buying the fact that lowering taxes will help. What dictates a companies expansion is their success, not the tax rate. If a company sees a room to make a profit by expanding, they will expand, no matter the tax rate. When taxes are cut, companies still pocket the profit, and there is no denying that companies reinvest their money far more often when taxes are higher, as they want to pay less taxes.
None the less, I will continue to look into it further.
Lowering tax rates on corporations is not a fix alone. When you only lower corporate tax rates, you are right, companies just pocket the profit. However, when you have the middle class with more money in their pockets, and infrastructure projects which creates temporary jobs and encouragement for companies to expand, you will get net economic growth.
Politicians and voters tend to look at the economy too simplistically. They think lowering taxes will benefit the economy, or a new infrastructure program will benefit the economy, or raising taxes will benefit the deficit, when none of these things alone will necessarily help at all. A comprehensive plan is needed, not just one quick fix idea.
I love how civil and frank this discussion has been. At any rate, while I'm not necessarily for lowering taxes or raising them (economics is a monster you don't tackle without incredible study), I'm certainly concerned about tax loopholes. Most of all, I'm concerned about the ridiculous capital gains tax rates. While not technically a loophole, people treat it like one. The regular income on the highest tax bracket is already taxed at historically low rates, and people use income from capital gains to essentially push it down lower. Even if we can't agree about taxing the rich more, I'm sure any rational man would agree to taxing them at the rate we say we will.
However, it's been shown that lowering the CGT to 15% hasn't really helped the economy much(if at all), so raising it back up to 20% wouldn't be that big of a deal.
But I would be wary of any tax rises.
Hah. The video ends and I just see these two thumbnails:
On the other hand, if the people buying the products of the companies being invested in had more money to spend, those companies would probably need less money to be invested on average, avoiding some of the issue.
I'm not saying this because I hate Romney, I'm saying this because it's true.
Mitt Romney is a fucking moron, and should not be allowed to say anything unless he has facts that support his mindless vocal vomiting.
Mitt Romney is a retarded animal.
I don't even know what to say besides "That is perhaps one of the most idiotic statements I have ever heard."
The problem isn't that companies aren't growing. The problem is only the big companies are growing, and they're also putting a ton of money into convincing people not to tax them.