Posted in: darrelrussell.com edit
07 Jan 2009
My personal opinion I think that things will get much worse. If you think about it. The rich will not invest their money anymore. The oil/gas companies still want their profits so you better believe that the gas prices will go up. You think that they are high now.
Because they have our money. Trillions of it. What don't you understand ?Obama wants to tax anyone making 200.000 dollars or more. If he continues with this insanity he will lose big Business to Europe they have 11% tax on big Business we already have 45% he will chase big Business out of America and kill the small. People don't invest when taxes are high and there is a recession on it's makes no sense. We need money to be reinvested and the people to buy and increasing taxes is not the answer at a time like now. Obama is sticking with the tax increase and will put other programs on hold for a few years. So tell me what good is the man if he can't change????? Will someone tell Obama he only has 4 years as president. McCain/Palin for Country!!thats the problem when bush gave them the big tax cuts they were to create more jobs etc; with it and add more machinery they did not do this they got greedy you can lead a horse to water but you cannot makr them drink . how is this so hard to understand its all about the rich being greedy .The rich will always invest their money. The rich need to be taxed just like the rest of us, they should not be exempt just because they are rich. The rich already have many privileges, why hand them more?
As far as the trickle down effect many speak of, prices for all sorts of things, food, gas, housing, are already getting sky high. This is still a free market economy and if one company wanted to charge $100 for an cup of coffee, there would be other companies who would undercut. Besides prices can only go so high before no one is even able to buy things anymore and the company. Higher gas prices have already shown that people are willing to do something different besides paying $5 a gallon for gas.Just make the corporations pay SOME taxes. Most of them don't as it stands now. And for those beneficiaries of the Bush Tax Cuts...time to pay your fair share. Supply side economics just does not work. It never has.
Maybe if we begin striving to become independent of fossil fuels, the fear of making oil and gas companies unhappy won't matter.
As is is our patterns of consumption are not sustainable.
I like what Tboone Pickens advocates.Because they just do not understand basic economics. First, when a country lowers corporate tax rates, new corporations move over to open manufacturing or services - just look at Ireland. after it lowered it's corporate tax rate to 12%. Secondly, when a corporation is taxed higher do you think they just "eat that increase"? They raise prices and pass that on to the consumers...The rich do not invest their own money in businesses, they get huge loans from banks.
They even buy stocks on loans.
They keep their money and spend it on themselves.
Then there is the very reasonable idea that there is no reason to tax the middle and the poor and leave the rich to roll in their shekels.
The middle and poor spend their money in this country, and provide the majority of the money and jobs. The rich summer in the South of France and buy foreign cars.
You tax the people with the money, the ones who won't be missing a meal to make the payments. We are already subsidizing oil and gas.
If we stop just that, they will learn to live with it.
The run up in energy prices isn't on supply and demand, it was done on speculation. it all goes back to the thinking of the rich have more to give
so they should share it
it think it is crazy