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Cutting taxes. So what will be the outcome?
I see so many posts where people think cutting taxes, or cutting Government will re-invigorate the economy. Yet will it?
There are 146,743,000 people in work in the US. Most on an average wage of $26,364. So let's say for a basis everyone gets $100 a month more in their wage packet, because of tax cuts. What will you spend an extra $100 a month on?
Now carry that through to the Government. They will be getting $14,674,300,000 less in tax revenue every month. Where will they get the money to fill the gap or make cuts?
Maybe borrow more. Great your Great Grandchildren will be paying for your $100 extra a month.
Maybe cut funding or Government. That's jobs, so the extra demand that tax cuts are supposed to bring, will not arrive because people who had a job, now don't. And they will need supporting to stop them turning up on your doorstep.
More entrepreneurial businessmen will work harder. Bullshit, take the steak off their dinner table and then they will work harder to get it back on. Need is the greatest inspiration Man has ever had. Would you work harder if you got a $100 pay rise for doing nothing extra. Or work harder if your income dropped $100?
The shit we're in with our economy is largely due to fat cats on a get rich quick train. That hit the buffers. They're still in their mansions in the Hamptons, telling people to cut their tax bills. And so many swallow the illusion.
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