Trump's tax proposal: raise taxes on the poor, give to the rich

[Snoopy]

SpokenTruth said:

Snoopy said:

The problem is if you tax the rich too much they would just leave which means we get nothing. A lot of companies move their company to Canada and other countries. 

Taxing the rich to death means they will leave and you'll miss them when they're gone. Besides, Government wastes a lot of money they could easily cut back on certain things.

Those that believe they will repatriate money because we cut taxes are foolish.  As are those that think they will push any tax savings onto their employees versus their shareholders.

As for taxing them to death?  Do you not realize that the rich and corporations now pay far less than they did during the 1930s-1980s?  And when was our greatest growth periods?  When the top tax rate was over near 90%.  Further, the loop holes that allow a multibillion company to pay $0 taxes are still on the books. 

And yes, we could cut back on spending.  Quite a bit, actually.  But that's damn hard to do when you have a president that is pushing for a $50 billion wall plus another $50 billion for the military. 

1. No one paid 90% tax rate back then. There was a lot of loopholes and more than you think back then. Second, a strong defense in military spending is necessary for not only protection, but it pushes technology further for us and generated us a lot of money.

2. We spend over a hundred billion dollars on illegal immigrants a year as it is. If the wall can stop them from coming in (or at least make it harder) it can benefit us greatly. 50 billion for one year an estimated 150 million a year to maintain can benefit us in the long run.

 3. Other countries don't tax as much on their companies like we do that's why we see a lot of companies building their HQ in other countries to avoid higher taxes. Which means we get nothing at all. 

There is also something called the Laffer curve.

https://www.youtube.com/watch?v=FqLjyA0hL1s