I also doubt the "wealthiest Americans" would use any benefit of an extension of the Bush tax cuts to contribute money to their corporation, or buy additional stock in their corporations in a deflationary economy that exhibits falling demand with corresponding falling prices.
It's much better to give the corporations tax breaks in credits and rapid write-off for investment in plant, land, and equipment or offering tax incentives for companies that add employees. Regards, LelandJ On 09/14/2010 11:47 AM, Leland Jackson wrote: > On 09/14/2010 11:08 AM, Pete Theisen wrote: >> Leland Jackson wrote: >>> Below is an excerpt from today's New York Times. Some people are >>> beginning to "get it". Extending tax cuts for the wealthiest indeed. LOL >>> >>> #----------------------------------- >>> Excerpt: >>> >>> We can keep wishing and hoping for a powerful economic recovery to pull >>> the U.S. out of its doldrums, but I wouldn’t count on it. Ordinary >>> American families no longer have the purchasing power to build a strong >>> recovery and keep it going.Americans are not being honest with >>> themselves about the structural changes in the economy that have >>> bestowed fabulous wealth on a tiny sliver at the top, while undermining >>> the living standards of the middle class and absolutely crushing the >>> poor. Neither the Democrats nor the Republicans have a viable strategy >>> for reversing this dreadful state of affairs. (There is no evidence the >>> G.O.P. even wants to.) >>> >>> http://www.nytimes.com/2010/09/14/opinion/14herbert.html?_r=1&th&emc=th >> Hi Leland, >> >> I have been thinking along those lines for some time, but no one ever >> listens to me. > I listened to Pat Roberson, (eg 700 club), this morning rant and rave > about the insanity of letting the tax cuts for the wealthiest 1 or 2% of > American expire during a recession. He was claiming that the tax cut > should be extended, or made permanent, as they would create jobs. He > definitely doesn't "get it". > > Pat Robinson probably falls in the class of people defined as the > "wealthiest Americans", who would receive multi-millions of dollars from > making the tax cuts, enacted during the Bush era, permanent. What do > you think he would do with his tax refund? > > I think he would probably buy gold in one form or another, as that the > investment advise coming form him and his sponcers. I doubt he would > contribute anything into his religious corporate empire or hire more > workers, LOL, or he might invest it in prospering economies like China > and Brazil, effectively exporting jobs overseas. Any wealthy individual > would be nuts to start a new public company, (eg ipo), in this economy, > so I'm having a hard time seeing how giving these guys, who seem to be > obsessed with power, influence, and wealth, more than they already have. > > Regards, > > LelandJ > > [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
