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Forum Post: Turns out tax breaks led to higher profits - not job creation.

Posted 2 years ago on April 13, 2012, 11:14 p.m. EST by FriendlyObserverB (1871)
This content is user submitted and not an official statement

The tax break was an incentive for the investor because it gave a greater return on his investment.

The tax break was intended to stimulate job creation through private business. Instead it only stimulated "profit - hoarding".

31 Comments

31 Comments


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[-] 2 points by DKAtoday (33128) from Coon Rapids, MN 2 years ago

Now - who woulda for-seen that?

Lets see.......hmmm tax break............hmmm fairly major.............hmmm what to do what to do.

!!!!!!!!!!!!!!

Pocket as much as I can while investing in off-shore manufacturing to insure the tax savings if ever repealed by sane voters and to pump up the profits even more. I love you IRS.......I mean Bush and all of your lovely repubs.

God but the people must hate you and yours.

Huh. Sucks to be them you say?

[-] 0 points by FriendlyObserverB (1871) 2 years ago

And to think we place the livelihoods of the nation in the hands of such .. criminals !

There is something wrong with this picture..

[-] 2 points by DKAtoday (33128) from Coon Rapids, MN 2 years ago

That is why we are here. They finally tossed on that last straw and broke the camels back. Why PETA is not yet involved I do not know.

But America is starting to awaken to the facts and are finding that they do not like what is going on.

We make progress.

[-] 1 points by FriendlyObserverB (1871) 2 years ago

There has to be something left they can take from us ..? The vultures are still hanging around !

[-] 1 points by DKAtoday (33128) from Coon Rapids, MN 2 years ago

The vultures won't land until the meat is dead. We are deathly ill but not yet dead.

[-] 2 points by FriendlyObserverB (1871) 2 years ago

Okay, than let's keep fighting !

I think our best chance is to take back our government, we the people , for the people" . Through petitions and signatures we can inform our government about the changes we want and need [there are so many though ] . The medicine we need is new rules and regulations and adjust a few old ones.. throw out a few perhaps. [ are the vultures going away yet ? ] And than once we gain control we track down all the VULTURES , and take back what they took from us ! ALL of it ! [ are they flying away ? ] Those bloody vultures won't have a chance once we grab hold of the BIG guns .. and show them what scarcity looks like ! We already have ONE MILLION PETITIONS SIGNED ! .. The CALVARY should be here any time now .. those Vultures BETTER start FLYing AWAY.. [are they gone ? ]

[-] 2 points by DKAtoday (33128) from Coon Rapids, MN 2 years ago

All of the criminals in this economic meltdown should receive the same treatment as Madoff. Loss of assets to be awarded out to those who got hurt and prison sentences equal to the crimes committed to run consecutively and not concurrently. This is where real accountability begins this is where real responsibility begins. This is how you address a growing culture of thieves.

YOU SAY DO THE CRIME DO THE TIME.

[-] 2 points by FriendlyObserverB (1871) 2 years ago

Could turn out this meltdown was the best thing to ever happen .. ;-]

[-] 2 points by DKAtoday (33128) from Coon Rapids, MN 2 years ago

Perhaps.

Just think all of those corporate entities enjoying the status of people due to citizens united and the Supreme Court.

Do you see why we might really need to push "Supremely" HARD to get charges brought and prosecutions started?

[-] 2 points by FriendlyObserverB (1871) 2 years ago

Yes, but the deeper the crisis the harder we push.

Without this crisis would we even be talking about citizens united and Supreme Court rulings ? Would we be pushing at all ?

It's hard to predict what the future will have for us. But I am not sure if pushing really hard is the best way to make the changes we want.. to see ? A whip works much better .. the sting of the lash is quite a motivator .. pushing hmmn .. not so good ;-]

[-] 2 points by DKAtoday (33128) from Coon Rapids, MN 2 years ago

You don't think they will feel the burn if they are all treated the same as Madoff? That would be a severe lashing and a great statement to say we are done with white collar criminals getting off and getting off cheap. The people need to speak just like we did for Trayvon. Justice for all under the law. Zimmerman faces a 2nd degree murder charge, he might have gotten a manslaughter charge if the prosecutor had originally charged him instead of letting him go. The public stood-up all across the country and demanded proper investigation and charging. Now the POS faces 2nd degree murder.

Now the public needs to stand-up again and demand justice be done to the economic criminals.

[-] 2 points by FriendlyObserverB (1871) 2 years ago

Well, if you feel what these corporate entities are doing is criminal , than yes bring them to justice. Problem is , what have they done considered criminal ? Are they not following the letter of the law?

[-] 2 points by DKAtoday (33128) from Coon Rapids, MN 2 years ago

Fraudulent sales of worthless commodities? Triple A ratings given to product that is known junk just prior to their failure? Mortgage approvals to borrowers who do not qualify? Etc etc

[-] 2 points by FriendlyObserverB (1871) 2 years ago

[-]1 points by DKAtoday (5815) from Coon Rapids, MN 2 minutes ago

What the meltdown didn't destroy lives? The meltdown didn't have millions of victims? Victims of the meltdown didn't lose all they had? Bernie Madoff was small change compared to the meltdown.

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reply-

I am just saying , " it takes a lot of crisis before people will do anything about it ." Before we finally say enough is enough "

of course the meltdown affected innocent lives .. But before the meltdown we were all in chains living hand to mouth lives. While the wealthy were sailing in their fine ships thinking everything was under control, and in fact it pretty much was by their standards .. They have no remorse for what they have done and intended to keep on doing it. This little breakdown may be our only chance of escape ! It may be another lifetime before a mistake like this happens again.. It takes revolution to change the status quo. I know of no other time in history otherwise. Slavery went on for nearly 300 years.. King G3 caused great disparity until revolution finally broke out .. it takes disparity to bring about the will inside us all to change. The big question, is this recent crisis big enough to bring out the will of the people to change the status quo , or was this just a little turbulence soon to be under control once more by the elite .. and return to the way things were , return to the back-riding chained up top to bottom civilization we all know and are accustomed to .. ?

It's fun Chatting with you DKA, and I support what you are doing and all the effort you have given . We need to make change where it counts.. in legislation .. through the system we have by the strength of the people. it's the only way.. sign petitions and be heard . We will make it happen. It will be done ! :-]

[-] 2 points by DKAtoday (33128) from Coon Rapids, MN 2 years ago

Thanks - I also appreciate the discussions. I know you understand and these discussions help to air out the issues and promote awareness in others if they run across them.

[-] 2 points by FriendlyObserverB (1871) 2 years ago

It all looks like misdemeaner stuff.. But sure it is making someone very wealthy..

Every time I think of Madoff I see his blank expression .. he literally ruined people's lives with his scheme. and no remorse whatsoever .. nothing .. prison was to easy for him .. it hardly punishes him for what he done ..and the person he is.. dipped in boiling oil .. would have been a delight to watch ! let him scream .. let his friends hear him scream .. send a chilling scream down their spines .. they would be so shaken they wouldn't beable to drive home .. never beable to turn another computer on ... possibly become pan - handlers .. living off loose change .. with that glossy eyed crazy look in their eyes ..

Well .. sure throw them in prison .. if that's the best we can do..

[-] 2 points by DKAtoday (33128) from Coon Rapids, MN 2 years ago

What the meltdown didn't destroy lives? The meltdown didn't have millions of victims? Victims of the meltdown didn't lose all they had? Bernie Madoff was small change compared to the meltdown.

[-] 1 points by elf3 (2044) 2 years ago

Creating scarcity and false demand: Wall Street investments in owning all the land are also key in determining the entire economic scale and system : http://occupywallst.org/forum/real-estate-4-ransom-global-property-speculation-a/

[-] 1 points by TheMisfit (48) 2 years ago

The problem is that the tax rates were already too low to be able to spur any new growth. While it was true that lowering tax rates from 90% gradually down to around 40% did spur growth and lead to greater tax revenues because more people were working and earning more to pay in taxes; once unemployment hit around a true 5% (not government adjusted rates), there was not really any more potential for growth. The theory of diminishing returns in an apt term for these tax policies. Now that tax rates are so low for the employers (not really job creators today), there is no real incentive for further growth as they are already taking in more than ever. Add in the tax exemptions (taken by even the President), there is even less incentive for growth. We are now at the point where raising taxes on the top end most likely will be more beneficial to the economy as lowering them has not had a positive effect since the rate went below 40%.

[-] 1 points by FriendlyObserverB (1871) 2 years ago

Lowering taxes was an easy downward slope.

Raising them back to efficient levels will not be as easy.

[-] 1 points by TheMisfit (48) 2 years ago

Agreed. The far right has done an excellent job at hiding the facts when it comes to taxes and growth. They only cite the increases and stick to the meme that lowering taxes increases revenues, but the history is there for anyone to see that we have gone so far beyond that point. We are now at the point where true tax reform and a change in government spending habits must happen or we will collapse before any Muslim boogeyman can get the chance.

[-] 0 points by hchc (3297) from Tampa, FL 2 years ago

No one pays those rates anyways. Just a pony show for the idiot masses.

[-] -1 points by monetarist (40) 2 years ago

And whr is the data to back that? Or am I supposed to take your word on faith basis?

[-] 3 points by FriendlyObserverB (1871) 2 years ago

This doesn't concern you. !

[-] -1 points by monetarist (40) 2 years ago

haha... so you dont have any data to back it up. And you never will have because your claim is absurd.

[-] 2 points by FriendlyObserverB (1871) 2 years ago

what data would satisfy you ?

[-] 0 points by monetarist (40) 2 years ago

thats for you to figure out. You made the claim, remember?

[-] 2 points by FriendlyObserverB (1871) 2 years ago

hah ! the only data concerning you is a cool drink of toilet water. go get it !

[-] -1 points by monetarist (40) 2 years ago

Illiterate oafs like you can do no better.

[-] 2 points by FriendlyObserverB (1871) 2 years ago

what's wrong.. ? miss your turn at the toilet !

[-] -1 points by SteveKJR (-497) 2 years ago

The economy is stimulated by 68% of the population of the country and if people don't have the money to buy then companies are going to look to investing elsewhere.

They can only produce so much product because of demand - beyond that they have to take losses and will eventually go out of business.