What would you do to revive the US economy?

Finally, A Rich American Destroys The Fiction That Rich People Create The Jobs

http://finance.yahoo.com/blogs/daily-ticker/finally-rich-american-destroys-fiction-rich-people-create-152949393.html

"Hanauer estimates that, if most American families were taking home the same share of the national income that they were taking home 30 years ago, every family would have another $10,000 of disposable income to spend.
That, Hanauer points out, would have a huge impact on demand — and, thereby job creation. It's time we stopped mouthing the fiction that "rich people create the jobs. Rich people don't create the jobs. Our economy creates jobs. We're all in this together. And until we return to more reasonable tax policies that help the 99% instead of just the 1%, our economy is going to go nowhere."
 
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Pack66Dad said:
Finally, A Rich American Destroys The Fiction That Rich People Create The Jobs

http://finance.yahoo.com/blogs/daily-ticker/finally-rich-american-destroys-fiction-rich-people-create-152949393.html

"Hanauer estimates that, if most American families were taking home the same share of the national income that they were taking home 30 years ago, every family would have another $10,000 of disposable income to spend.
That, Hanauer points out, would have a huge impact on demand — and, thereby job creation. It's time we stopped mouthing the fiction that "rich people create the jobs. Rich people don't create the jobs. Our economy creates jobs. We're all in this together. And until we return to more reasonable tax policies that help the 99% instead of just the 1%, our economy is going to go nowhere."
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Pack, do you really buy into that dribble? Come visit our shop and tell me if there is any truth to that article! Unbelievable!!! I've come a long way...THE HARD WAY.. And I have never got money from a poor person. I fully believe the idea that someone came up with a while ago...if you stole all the money from the rich and distribute it equally, the people that worked hard and sacrificed to be rich would get their money back and the poorest would be poor again in a very short time. There will always be rich and poor and no matter how hard you try you will not change that! Now I have to say I do believe there are some changes that need to be made so politicians can't get wealthy off the people!! It's simple..you get out what you put in. This is coming from a lifelong mechanic with no college education and no "silver spoon".


Pack, you don't agree that rich people spend lots of money and the more they make the more they spend? I will be there to collect it...,lol it takes "employees" to collect it...duh
 
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floriduramax1 said:
Pack, do you really buy into that dribble? Come visit our shop and tell me if there is any truth to that article! Unbelievable!!! I've come a long way...THE HARD WAY.. And I have never got money from a poor person. I fully believe the idea that someone came up with a while ago...if you stole all the money from the rich and distribute it equally, the people that worked hard and sacrificed to be rich would get their money back and the poorest would be poor again in a very short time. There will always be rich and poor and no matter how hard you try you will not change that! Now I have to say I do believe there are some changes that need to be made so politicians can't get wealthy off the people!! It's simple..you get out what you put in. This is coming from a lifelong mechanic with no college education and no "silver spoon".


Pack, you don't agree that rich people spend lots of money and the more they make the more they spend? I will be there to collect it...,lol it takes "employees" to collect it...duh
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Did you read the article? The guy made his money just like you and I but his argument is that an 11% tax rate on him is wasted and creates no new jobs. If I follow his logic he is saying to spur economic growth taxes on the middle class should be 11% and his taxes, my taxes, your taxes and of course 4suns taxes should be raised. I'm not a fan of paying more taxes but I can see the logic. If the few who can afford more pay more, the many who live paycheck to paycheck will help spur the economy because they spend more. When the economy picks up, you and I will make more since we will have more business. An adjustment to the tax rates would be an investment, when the economy picks up we will reap our dividend.
 
I read the article. It's horse crap. The guy must have been lucky on his fortune as he's not very good at math.

Now again... can you connect the dots on how the government taking money from anyone creates a job? You expecting the middle class to get some sort of check in the mail from the government?
 
Pack, I can't afford more taxing! If my taxes were any higher I wold shut down and go back to 8-5 five days a week! In this economy profit margins are very small. I am a believer in "he who has the best service wins" in this economy. I can't see how taxing me more and paying losers like my son in law a huge check because he keeps having babies is going to "grow" the economy!!! Sure he will spend more...at the local bar and corner drug stand!! We have got to stop rewarding folks with other peoples money...period!



And to answer your question...no I don't have read the article. I read enough it in your post!
 
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pack66dad i,m glad to see we agree on something your last post is reality, and it,s funny how the rich people don't get it. Maybe it,s greed,or they own a business that dosen,t need more employes or employes don,t need any more training to stay updated to mordern ways, maybe they don't care about the 99%. I read a interesting editorial about small business owners and the guy worked for a company who,s owner made lot,s of money and bought all kinds of boats,cars,camps,motorhomes,etc. the owner never retrained his employes or reinvested in his company and when things got tough he went bankrupt because of greed. and there's proof of it by the post that say,s he doesn't want to pay his son in law any more. Not everybody in this country act's or behave's like your son in law. Maybe if you had a good health plan for your employes he could get some rehab. you are definitly a member of the 1%
 
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twomad said:
pack66dad i,m glad to see we agree on something your last post is reality, and it,s funny how the rich people don't get it. Maybe it,s greed,or they own a business that dosen,t need more employes or employes don,t need any more training to stay updated to mordern ways, maybe they don't care about the 99%. I read a interesting editorial about small business owners and the guy worked for a company who,s owner made lot,s of money and bought all kinds of boats,cars,camps,motorhomes,etc. the owner never retrained his employes or reinvested in his company and when things got tough he went bankrupt because of greed. and there's proof of it by the post that say,s he doesn't want to pay his son in law any more. Not everybody in this country act's or behave's like your son in law. Maybe if you had a good health plan for your employes he could get some rehab. you are definitly a member of the 1%
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Wtf are smoking? Re-read my post! My sil doesn't work for me!!! Are you kidding??? He figured out the "system" and now after kid #6 he only "works" a job here and there so he can file a return and receive a HUGE check! Last year it over 9k!! She is pregnant right now and they are pissed because the due date will be in January!! So pay attention to the posts! Research before giving me advise! I guess you didn't read my thread about expanding! All my profit goes back in the company. The guys are training every day! Have you seen the systems in luxury buses today? Give me a break with all this poor me liberal BS!
 
Did you not say in your post that you didn't want to pay your sil anymore money??? I feel sorry for your daughter and your GRANDKIDS
 
twomad said:
Did you not say in your post that you didn't want to pay your sil anymore money??? I feel sorry for your daughter and your GRANDKIDS
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Maybe if you weren't so "mad" you would actually comprehend what I wrote! I don't want losers collecting large sums of money from goobment because of how many kids they have!! READ what I posted! FYI two of my GK's have been temporarily placed with us since June :( again, you have no idea! I blame the goobment (along with his father) for this behavior! You can't keep rewarding for failure!!
 
Here's a perfect example of how the media completely distorts reality. Headline

[h=1]Six Waltons Have More Wealth Than the Bottom 30 % of Americans[/h]But the reality is... if you have $10 in your pocket with no debt, you're richer than 25% of Americans. This is the definition of Wealth... more saved than debt. But does that really mean those poor 30% people are living in a cardboard box? No, Donald Trump falls into the bottom 30% of Americans because he has more debt than assets. So this whole 99%'s stuff is bull crap on a huge scale. Give me 5 minutes and I can put everyone on this forum into the "Rich" category by just picking and choosing what supports my argument.
 
You can't keep rewarding for failure!![/QUOTE] I'll have to agree w/him on this one!!:huh:
 
]:grin::thumbsup: There may be hope for us after all!![/QUOTE]:smt100 Just Joking!!:grin: "Life ain't no free ride", but for some it's pretty damn close to one!!:smt013
 
Pack66Dad said:
Finally, A Rich American Destroys The Fiction That Rich People Create The Jobs

http://finance.yahoo.com/blogs/daily-ticker/finally-rich-american-destroys-fiction-rich-people-create-152949393.html

"Hanauer estimates that, if most American families were taking home the same share of the national income that they were taking home 30 years ago, every family would have another $10,000 of disposable income to spend.
That, Hanauer points out, would have a huge impact on demand — and, thereby job creation. It's time we stopped mouthing the fiction that "rich people create the jobs. Rich people don't create the jobs. Our economy creates jobs. We're all in this together. And until we return to more reasonable tax policies that help the 99% instead of just the 1%, our economy is going to go nowhere."
Click to expand...

The opinions of my barber are better thought out than this guy. The reporters work is shoddy journalism.

"Dozens of rich entrepreneurs have already gone on record confirming that a modest hike in capital gains and income taxes would not have the slightest impact on their desire to create companies and jobs, given that tax rates are historically low."

Classic liberal straw man argument. There are probably a dozen CSR members who can refute that.


"...argues Nick Hanauer, is that rich people do not create jobs, even if they found and build companies that eventually employ thousands of people."


Really??? Then who does create jobs? Again, this runs counter to what business owners, including here at CSR, say.


"...it's like saying that a seed creates a tree. The seed does not create the tree. The seed starts the tree. But what creates the tree is the combination of the DNA in the seed and the soil, sunshine, water, atmosphere, nutrients, and other factors that nurture it. Plant the seed in an inhospitable environment, and it won't create anything. It will die."

This quote is actally fantastic but the origiator and reporter are to stupid to see it. Without the seed and the ambition it contains there will not be a tree. The seeds now are being planted in a "inhospitable environment" of governmet regulations, reulatory uncertainty, and goverment sponsored competitors. (crony capitalism)


"On this income, he says, he pays an 11% tax rate. (Presumably, most of the income is dividends and long-term capital gains, which carry a tax rate of 15%. And then he probably has some tax shelters that knock the rate down the rest of the way)."

The only way to get an 11% rate is to use government favors (loopholes, crony capitalism, things that don't apply to you and me) as there is no such rate for that income.


"With the more than $9 million a year Hanauer keeps, he buys lots of stuff. But, importantly, he doesn't buy as much stuff as would be bought if that $9 million were instead earned by 9,000 Americans each taking home an extra $1,000 a year.
Why not?
Because, despite Hanauer's impressive lifestyle — his family owns a plane — most of the $9+ million just goes straight into the bank (where it either sits and earns interest or gets invested in companies that ultimately need strong demand to sell products and create jobs). For a specific example, Hanauer points out that his family owns 3 cars, not the 3,000 that might be bought if his $9+ million were taken home by a few thousand families.
If that $9+ million had gone to 9,000 families instead of Hanauer, it would almost certainly have been pumped right back into the economy via consumption (i.e., demand). And, in so doing, it would have created more jobs."

When money is in the hands of individuals they direct it to its best use as they see fit. These billions of decisions by individuals are the "invisible hand" of the market. It is good that people choose to support the grocer, buy a car, or many of what are basic life decisions. It is not bad that some have money to put "straight into the bank". It most certainly is good that some save, while others invest, or others build business. No one has said that EVERY high income or "rich" person will start a business, but the business inovators that create companies that hire, either come from their ranks or get there.

MM
 
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Who defined job creation as starting a company? That's absurd. Let him buy that jet, that yacht, that gold plated porche, that 40 room mansion. That's job creation right there. Maybe they should outlaw used cars and used boats, that'll create jobs. Heck, lets outlaw doggie bags because that doesn't create as many jobs as buying new food. We should also outlaw tools too. How many jobs could we create if we forced everyone to hire someone to fix EVERYTHING.
 
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Didn't recently some of the wealthest business owners say that they welcome higher taxes on themselfs just to help with the job situation in this country. KUDOS TO THOSE STAND UP AMERICAN,S
 
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