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Politics : Politics for Pros- moderated

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To: J.B.C. who wrote (377494)	8/10/2010 10:21:50 AM
From: Elroy	Read Replies (3) of 793912

The guy that worked for $10 and saved increased GDP by that $10. If he worked for $10 and had $2 taken away in taxes, doesn't GDP still go up by $10? That's the question on the expiration of the Bush tax cuts, should an equity investor lose $1.50 (15%) or $2 (20%) to taxes on a $10 long term capital gain. I'm not saying welfare by itself makes workers more productive, I'm wondering whether taking some portion of excess savings from those who aren't using it (say, the idle rich!) and giving it to those who will spend it all (the idle poor!) is better for the overall economy than leaving the cash horde in the wealthy guy's bank account? For some reason it seems better for the economy to have the 50 cents in question given to people who will use it to buy sandwiches from their local shop rather than have the original investor take his profits and buy $8.50 of IBM stock instead of $8. Doesn't spending money at your local store do more good for the total economy than putting the same amount of money into the stock market? Maybe not, but it seems like it should.

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