How effective are the Bush tax cuts at creating jobs?

[HappySqurriel]

richardhutnik said:

HappySqurriel said:

Mr Khan said:

I think Warren Buffet said it best recently: some rich people are going to bitch about lower taxes and promote the trickle-down myth endlessly. It's stupid to listen to them, let the cuts drop.

 

He said it, not me (though i paraphrased rather liberally), but i agree with his sentiment.

 

It's an interesting crossroads for the Republicans. Time to put up or shut the hell up about deficits

... and what is Warren Buffet's effective tax rate? As a percentage of his earnings I bet he pays less than you do.

He specifically stated this, and said it needed to be dealt with.  He argured taxes should be raised on the rich to address this issue.  Now, should people fault Buffet for playing by the rules and doing this for himself, and thus say that, because he does, people shouldn't listen to him saying taxes should be raised on the rich?

Except how do you tax the rich?

Progressive income tax schemes don't impact them they impact high income earners who tend to be upper middle class business owners; also known as the individuals who are responsible for most of the job creation within the economy.

Capital Gains taxes impact investment and hurt individuals who have lots of wealth but little income; also known as retired people.

 

The real solution is to stop trying to improve outcomes through taxation, monetary or fiscal policy; and to have a reasonable taxation rate justified by effective governmental services.