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Politics : The Trump Presidency
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To: TimF who wrote (32731)9/4/2017 3:40:47 PM
From: zzpat  Read Replies (2) of 362321
 
My comment regarding taxes was on investment taxes (capital gains) not payroll taxes. The era of HFT created a situation where computers can buy and sell stocks instantaneous and not producing anything of value. The stock market had previously been used to give companies our money to use, to invest, to create more wealth etc., but machines don't create wealth. Taxing HFT at 30% would return the market to a real stock market and not a casino. Also, getting rid of all options would be second on my list of Wall Street reforms.

Regarding your article allow me to address the most serious logical flaw. A company will hire the workers it needs, no more, no less (all things being equal). Your article assumes an employer will hire new workers because his taxes were cut. Why would he do that? Because his taxes were cut? Com'on, that's as dumb as saying all rich people need a tax cut because an infinitesimal fraction of them will create a new business.

The purpose of taxes is to generate money for the government. There hasn't been a tax cut plan yet that has done that. Instead, the debt nearly tripled under Reagan and doubled under Bush after each promised to balance the budget after cutting taxes. Conservatism is a failure and trying to fix it is a waste of time.
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