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You really know nothing about economics except what the idealogues tell you to think, huh?
It's so sad that people are swallowing this stuff as gospel without taking any time and effort to educate themselves on how economies work.... just reading blogs that they already agree with.
This graph is being put out so that the left can justify the terrible problems that will be created from the big tax increases that are coming down the pike. It's the same thing that caused the great depression to last so long in the US.
I'm now copying myself from another thread...
The rich use the money to invest in businesses, which creates jobs. Even when they take blocks of capital and put it into mutual funds, or just a savings account, it ends up invested. They don't hide the money under their beds. It's always circulated through investment, growing businesses, or spending on large items/services. The rich get that way because they use their money to create more wealth. When you raise taxes, it goes into a government system that does not create wealth in any way. The government either takes it from the actual producers of wealth, or it inflates the money by printing more, or it borrows it in the form of bonds. The government creates NOTHING in terms of actual wealth for society.
EVERY SINGLE TIME, taxes are lowered, the economy is stimulated, more jobs are created, more people are working and paying taxes, and the actual tax revenues realized GO UP!!
This has been proven over and over and over again. It was the reason why for example the depression of 1920 was avoided, and instead we had the roaring 20s. By the same token, raising taxes is the reason that the US depression of the 30s lasted so much longer than it did everywhere else.
You really should read some books on economics and history.
Just sayin....
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