More tax cuts for the wealthy?

mukk_in

Yankees Fan
Supporter
Oct 13, 2009
2,852
3,872
53
Vellore, India
✟664,706.00
Country
India
Faith
Christian
Marital Status
Celibate
It's being reported that the President is considering bypassing Congress to further cut taxes on the wealthy. I'm ambivalent on this. Tax cuts on the wealthy may be OK if they lead to more consumption, investment, and redirection of capital gains into new or existing businesses. But, I'm not in support of tax cuts for mere wealth creation for a few. I also think that the middle class and corporate class (especially SMEs) need more permanent relief. As an investor, all my capital gains (minus taxes) are ploughed back into the market (people like me would also benefit from lower taxation on stock sale and dividends). I'm not sure if all the Billionaires do that. What do you folks think?

Here's a link:

Trump considers bypassing Congress to cut capital gains tax on wealthy, report says
 

Jonathan Walkerin

Well-Known Member
Feb 12, 2019
3,720
2,772
44
Stockholm
✟72,396.00
Country
Sweden
Faith
Catholic
Marital Status
Married
  • Agree
Reactions: archer75
Upvote 0

mukk_in

Yankees Fan
Supporter
Oct 13, 2009
2,852
3,872
53
Vellore, India
✟664,706.00
Country
India
Faith
Christian
Marital Status
Celibate
Thank you. I believe in "trickle down economics" and have seen it work in my own life. Reinvesting higher capital gains on lower tax base has built my own wealth so far (not in the millionaire category.. yet...lol) and allowed me to reinvest more. The only concern I have is that most may simply amass their gains without reinvesting. I'm also concerned for the vast majority who are not investors in the US (either home equity or market investors). Maybe it's a good idea to link capital gains tax cuts to proof of reinvestment/consumption (as opposed to just being parked in a nominal interest rate checking A/C)?

Trickle-down economics really does work
 
Last edited:
Upvote 0

High Fidelity

Well-Known Member
Supporter
Feb 9, 2014
24,258
10,276
✟896,801.00
Country
United Kingdom
Faith
Baptist
Marital Status
Private
Failed trickle-down economics again.

It doesn't woooooork.

The last lie we were fed was that businesses would suddenly start hiring more people. That also doesn't work. Companies aren't just going to hire for the sake of it if they don't have jobs to fill.
 
Upvote 0

mukk_in

Yankees Fan
Supporter
Oct 13, 2009
2,852
3,872
53
Vellore, India
✟664,706.00
Country
India
Faith
Christian
Marital Status
Celibate
If most do that then trickle down economics do not work whatever your personal mileage on the issue may be.
Not arguing that and not subscribing to consensus either:).

Some scriptures on ethical investing, reinvesting, diversifying, and social responsibility (trickle down):

Matthew 25:14-30, Genesis 41:34-36, Proverbs 21:5; 21:20, Ecclesiastes 11:2, Psalm 112:5, Luke 16:10, 1 Timothy 6:17.
 
Last edited:
Upvote 0

Neogaia777

Old Soul
Supporter
Oct 10, 2011
23,277
5,237
45
Oregon
✟952,487.00
Country
United States
Faith
Non-Denom
Marital Status
Celibate
If most do that then trickle down economics do not work whatever your personal mileage on the issue may be.
Should the cuts be dependent on that then, or be made or only allowed dependent upon or based on that "legally" if you could do that somehow...? Or not allowed if they don't or won't, ect, if you can even do that, ect...? If you could somehow force or require them to, or a certain percentage or they won't get the cuts, ect...? Reign them in somehow, ect...?

God Bless!
 
  • Agree
Reactions: mukk_in
Upvote 0

Jonathan Walkerin

Well-Known Member
Feb 12, 2019
3,720
2,772
44
Stockholm
✟72,396.00
Country
Sweden
Faith
Catholic
Marital Status
Married
Should the cuts be dependent on that then, or be made or only allowed dependent upon or based on that "legally" if you could do that somehow...? Or not allowed if they don't or won't, ect, if you can even do that, ect...?

God Bless!

I would probably answer more of your messages if I understood half of them. In this case I will say definite maybe.
 
Upvote 0

Neogaia777

Old Soul
Supporter
Oct 10, 2011
23,277
5,237
45
Oregon
✟952,487.00
Country
United States
Faith
Non-Denom
Marital Status
Celibate
I would probably answer more of your messages if I understood half of them. In this case I will say definite maybe.
Sorry man, but this isn't normally my thing, but is something I am interested in...

I mean is there a way to not allow the cuts, if they don't use at least a certain percentage of it into the supposed trickle down effect that they claim they want it to have, ect...? And enough to make it have the effect they claim they want it to have, ect...?

And can they prove they will have (the cuts) if they do, ect...?

Is that simpler, or easier (to understand, ect)...?

God Bless!
 
  • Informative
Reactions: mukk_in
Upvote 0

mukk_in

Yankees Fan
Supporter
Oct 13, 2009
2,852
3,872
53
Vellore, India
✟664,706.00
Country
India
Faith
Christian
Marital Status
Celibate
Sorry man, but this isn't normally my thing, but is something I am interested in...

I mean is there a way to not allow the cuts, if they don't use at least a certain percentage of it into the supposed trickle down effect that they claim they want it to have, ect...? And enough to make it have the effect they claim they want it to have, ect...?

And can they prove they will have (the cuts) if they do, ect...?

Is that simpler, or easier (to understand, ect)...?

God Bless!
The legality of that (not allowing tax breaks for those who are simply hoarding and not reinvesting) may be challenged. But, that's what I'd suggest.
 
  • Agree
Reactions: Neogaia777
Upvote 0
This site stays free and accessible to all because of donations from people like you.
Consider making a one-time or monthly donation. We appreciate your support!
- Dan Doughty and Team Christian Forums

Neogaia777

Old Soul
Supporter
Oct 10, 2011
23,277
5,237
45
Oregon
✟952,487.00
Country
United States
Faith
Non-Denom
Marital Status
Celibate
Or regulate them (the cuts, or money wealthy people will get from the cuts) anyway, regulate them or a certain amount or percentage of them (the cuts, the money), to have the trickle down effect it or they (the cuts or money from the cuts) are supposed to have to truly benefit this nation and this country, like they claim they want it to have, or not give out or allow the cuts, if they do not, ect, or if they (the cuts, the money) cannot be proven out, or shown out that they will for sure have the effect or effects they claim they want it to actually have to truly benefit this nation and this countries economic foundation/structure, ect...?

Or not do it or not allow it, ect...?

God Bless!
 
Upvote 0

Neogaia777

Old Soul
Supporter
Oct 10, 2011
23,277
5,237
45
Oregon
✟952,487.00
Country
United States
Faith
Non-Denom
Marital Status
Celibate
The legality of that (not allowing tax breaks for those who are simply hoarding and not reinvesting) may be challenged. But, that's what I'd suggest.
Me too...

Is there a practical way to do it, or make sure of it...?

God Bless!
 
  • Agree
Reactions: mukk_in
Upvote 0

Mel333

Active Member
May 27, 2019
313
309
Brisbane
✟34,753.00
Country
Australia
Faith
Christian
Marital Status
Married
It's being reported that the President is considering bypassing Congress to further cut taxes on the wealthy. I'm ambivalent on this. Tax cuts on the wealthy may be OK if they lead to more consumption, investment, and redirection of capital gains into new or existing businesses. But, I'm not in support of tax cuts for mere wealth creation for a few. I also think that the middle class and corporate class (especially SMEs) need more permanent relief. As an investor, all my capital gains (minus taxes) are ploughed back into the market (people like me would also benefit from lower taxation on stock sale and dividends). I'm not sure if all the Billionaires do that. What do you folks think?

Here's a link:

Trump considers bypassing Congress to cut capital gains tax on wealthy, report says

Any sort of tax cuts means they are trying to stimulate the economy. So yes, it would be about "consumption, investment, and redirection of capital gains into new or existing businesses."

The middle class - low income people don't reinvest $ rather they just consume more when they have more $. So it makes sense for the wealthy to be able to reinvest into existing business and maybe even employ more middle class - low income earners.

But many will look at it and say it's unfair etc. If they don't cut taxes then the economy will falter as it's been slowing globally and all countries are desperately trying to increase inflation.
 
Upvote 0

Neogaia777

Old Soul
Supporter
Oct 10, 2011
23,277
5,237
45
Oregon
✟952,487.00
Country
United States
Faith
Non-Denom
Marital Status
Celibate
Any sort of tax cuts means they are trying to stimulate the economy. So yes, it would be about "consumption, investment, and redirection of capital gains into new or existing businesses."

But many will look at it and say it's unfair etc. If they don't cut taxes then the economy will falter as it's been slowing globally and all countries are desperately trying to increase inflation.
"Sugar, It's going down"...

Cutting poor people's money and a lot of poor peoples money, so that one rich man can be just a tiny bit richer, and eat maybe that extra $500 dinner plate, that he's just going to poop out later on, or "whatever stupid frivolous thing it may be", is not the answer either though, I don't think...

Some TV evangelists with poor people tithes also comes to mind here as well...

God Bless!
 
  • Agree
Reactions: mukk_in
Upvote 0

timewerx

the village i--o--t--
Aug 31, 2012
15,202
5,877
✟296,775.00
Faith
Christian Seeker
Marital Status
Single
Tax cuts on the wealthy may be OK if they lead to more consumption, investment, and redirection of capital gains into new or existing businesses. But, I'm not in support of tax cuts for mere wealth creation for a few.

I agree.

It may not actually lead to economic growth. And being pressured to creating new business, new markets brings further strain into our finite resources. It simply can't go on forever.

Consider this. If the reverse would happen, More tax cuts for the rich, less tax cuts for the lower working classes, The lower working classes would be spending more - good for economy.

Here's another thing, the extra funds can be used for social welfare programs - so even out-of-work citizens can spend generously. Also great for economic growth.

Some countries in Europe does the reverse, more tax cuts for the rich and seemed to have eliminated poverty and looks fairly sustainable.

In Iceland they have managed to eliminate poverty, reduce the income gap between rich and "poor" to non issue, and managed a very low crime rate. Isn't that great?

Crime rates are closely linked to a countrie's income gap between rich and poor. It goes to say that love of money / greed is the source of all evil, including crime and poverty.
 
Upvote 0
This site stays free and accessible to all because of donations from people like you.
Consider making a one-time or monthly donation. We appreciate your support!
- Dan Doughty and Team Christian Forums

timewerx

the village i--o--t--
Aug 31, 2012
15,202
5,877
✟296,775.00
Faith
Christian Seeker
Marital Status
Single
Any sort of tax cuts means they are trying to stimulate the economy. So yes, it would be about "consumption, investment, and redirection of capital gains into new or existing businesses."

The middle class - low income people don't reinvest $ rather they just consume more when they have more $. So it makes sense for the wealthy to be able to reinvest into existing business and maybe even employ more middle class - low income earners.

But many will look at it and say it's unfair etc. If they don't cut taxes then the economy will falter as it's been slowing globally and all countries are desperately trying to increase inflation.

Some countries in europe like Iceland does the opposite - more tax cuts for the rich.

They have managed to eliminate poverty this way and crime rates to a very low level.

Isn't this a good thing from a Christian perspective?

Also, giving more spending power to the poor through less tax and social welfare would also increase spending and thus, help stimulate economy is it not?

Win-win?
 
Upvote 0

Neogaia777

Old Soul
Supporter
Oct 10, 2011
23,277
5,237
45
Oregon
✟952,487.00
Country
United States
Faith
Non-Denom
Marital Status
Celibate
"Sugar, It's going down"...

Cutting poor people's money and a lot of poor peoples money, so that one rich man can be just a tiny bit richer, and eat maybe that extra $500 dinner plate, that he's just going to poop out later on, or "whatever stupid frivolous thing it may be", is not the answer either though, I don't think...

Some TV evangelists with poor people tithes also comes to mind here as well...

God Bless!
I mean sure, he's supporting those businesses or workers or the one producing those goods, but most goods are not even made in and don't come from America anymore... And most millionaires/billionaires don't spend much of their money in America or on American goods and services or businesses anymore either...

Anyway, it might be hopeless...

"Sugar, It's going down"...

God Bless!
 
Upvote 0

Neogaia777

Old Soul
Supporter
Oct 10, 2011
23,277
5,237
45
Oregon
✟952,487.00
Country
United States
Faith
Non-Denom
Marital Status
Celibate
Some countries in europe like Iceland does the opposite - more tax cuts for the rich.

They have managed to eliminate poverty this way and crime rates to a very low level.

Isn't this a good thing from a Christian perspective?

Also, giving more spending power to the poor through less tax and social welfare would also increase spending and thus, help stimulate economy is it not?

Win-win?
Yeah, but that's "Iceland" though...

America is a little bit different...

Basically none of it can go on the way it is going on, or has been going on for very much longer... And that's just the plain and simple truth and facts...

God Bless!
 
Upvote 0

Neogaia777

Old Soul
Supporter
Oct 10, 2011
23,277
5,237
45
Oregon
✟952,487.00
Country
United States
Faith
Non-Denom
Marital Status
Celibate
It may not actually lead to economic growth. And being pressured to creating new business, new markets brings further strain into our finite resources. It simply can't go on forever.
This^^^...

God Bless!
 
Upvote 0
This site stays free and accessible to all because of donations from people like you.
Consider making a one-time or monthly donation. We appreciate your support!
- Dan Doughty and Team Christian Forums

Jonathan Walkerin

Well-Known Member
Feb 12, 2019
3,720
2,772
44
Stockholm
✟72,396.00
Country
Sweden
Faith
Catholic
Marital Status
Married
The middle class - low income people don't reinvest $ rather they just consume more when they have more $. So it makes sense for the wealthy to be able to reinvest into existing business and maybe even employ more middle class - low income earners.

Actually it has been shown to be total opposite. That consuming of poor and middle class is what keeps economy turning not the billions that keep getting hidden in bank accounts of cayman islands by the superrich.

So if you really want some economy stimulus cut the taxes from the poor and middle class.
 
Upvote 0