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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: flatsville who wrote (108095)6/11/2001 5:37:22 PM
From: GraceZ  Read Replies (1) of 436258
 
So now you're saying that a rate reduction for the rich must result in increased economic activity since individual (v. corporations) pay the majority of taxes? Sounds like conventional wisdom. IMO it's only conventional thinking.

I never said must. I was simply pointing out where the biggest chunk of change is and because it is a larger amount it has a larger effect.

Think about what we're talking about, we're talking about marginal income. The last dollars made by wealthy individuals. The biggest difference between the rich and the poor is not what they do with the first dollar, but the last dollar. Most poor people (and a hellova lot of middle class people) will consume that last dollar whereas rich people will invest it. If the rich consumed that last dollar, they would no longer be rich, correct?

Needless to say, some will invest it in passive investments and you can't get much more passive than gold (we agree on this) but a good portion of that money will wind up in stocks, bonds or in a company that they actively run. As much as everyone on this thread likes to run down the capital markets you have to admit they are sort of necessary in a capitalist country. Free flowing capital markets promote the kind of economic activity that creates jobs.

A paycheck beats the hell out of a benefits check almost any day of the week.
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