In 1980, the last year before the tax cuts, tax revenues were $956 billion (in constant 1996 dollars).
Revenues exceeded that 1980 level in eight of the next 10 years. Annual revenues over the next decade averaged $102 billion above their 1980 level (in constant 1996 dollars
An oversimplification. There have to be people with a dream and a vision of setting up companies and other businesses which might be commercially successful and these people have to work and sacrifice for their dreams and visions in order to make successful companies that require employees. The has to be a reason for creating jobs and the only economically feasible one is that you need employees to make your business successful.
For a very long time cars made in Japan were a lot more reliable and dependable than those made in America JakobA. I've heard that has changed and American cars are now on a par. I don't know if that's true or not. I think billions of dollars of tax cuts for the wealthy means more furs, diamonds, vacation homes, fancy cars, yachts, travel! It sound so nifty but it doesn't work yet "they" insist on promulgating it. Why I don't know. Just makes them look dam* foolish! Thank you for your reply. May I ask what car do you drive m'dear? We have a 2003 Honda Accord. It was a gift from our son in 2008. He did a lot of research and we just LOVE the car. It is silver (my favorite car color) and still looks great. Jim keeps it clean and is meticulous about the required checkups. :)
The trouble with proportional taxes is that it gives wealthy people some pretty big debit numbers to look at. It makes them feel they are being robbed. One solution to that which is widely used in the US it to tax corporations instead (and make them pay lower salaries), It kinda works. the debits 'taken from salaries become less and people feel less robbed, but it makes companies move their production abroad to be taxed by the tax-rules there It can get quite complicated and obscure. and breed "smart operators" who diligently search out loopholes through which they can send goods around in a ring of loopholes so they end up wit more money than they started with.
Thank you for your thoughtful reply JakobA. I think proportional taxes is the only thing that make sense though. Seriously. If someone makes $10 million in a year why shouldn't he/she pay proportionally to someone who makes $100,000 a year or $10,000 a year? That's only fair isn't it? I know people incorporate to "hide behind" the corporate shield and protect their personal assets. So if the corporation is sued their personal property is out of reach. I'm pretty sure if I made $10 million in a year I wouldn't kvetch about paying whatever taxes I owed. I'd still be better off financially than if I made only $10,000. Of course maybe being very wealthy would change how I think. I can't know that without "being there" so to speak and I never will. I despise loopholes. They are there as escape hatches for those who don't want to pay their fair share. For example. Farm subsidies to the wealthy. They get paid to NOT grow things. How does that make any sense at all? Thank you for your patience in wanting me to understand something I can't seem to grasp. Please keep trying though JakobA! Happy Tuesday! :)
Living green. Leaving a smaller footprint! Good for you JacobA. Riding a bicycle when you can is very good exercise too of course. Many years ago I lived about 3 miles from work. On some days when it stayed light longer I'd ride my bike to work. I had a small basket on the back in which I could put clothes to change into and my purse. It was very enjoyable. It energized me on the way in and helped to unwind on the way home. I noticed that others began to ride bikes to work too. Now I was in my early 40's at the time and I'm thinking the younger folks thought if I could do it they could do it! Sometimes at lunch time we'd take our bikes to the nearest park and eat our lunches there. It was a good time. The terrain was relatively flat. If it were very hilly I don't think I would have done that. Good for you m'dear! Good for you! :)
Oh my gosh that is BRILLIANT Kg! Of course it does. Automation is what takes away jobs. You don't have to pay machines a wage or benefits. You just have to keep them in good repair. Thank you for a very fine answer m'dear and Happy Monday. I'm gonna piggyback a question from this. I hope you don't mind. I will give you blind attribution! Let's see what others think of it! I LOVE it! :)
Taxes are often used to shape social behavior (the power to tax is the power to destroy) so their effect is highly dependent on how they are structured; who receives the benefits and for what reasons.
This post was edited by Salt and Red Pepper at September 17, 2017 9:23 PM MDT
Obama created jobs. at the beginning of his presidency unemployment was high, at the end of his presidency it was low. I don't really know how he did it, and I am sure many will say he was just lucky to be president when something else caused unemployment to fall. Last I saw the unemployment is rising again now, but surely not because it misses Obama.
This post was edited by JakobA the unAmerican. at September 18, 2017 3:30 AM MDT
This post was edited by JakobA the unAmerican. at September 18, 2017 3:30 AM MDT
officegirl 