Quote:
Originally Posted by Hell Puppy
Joe the Plumber won the debate.
McCain found one of the areas where he should really cut into Obama, but he didn't execute.
The real nugget that lies in there is Obama'a promise to provide 95% of Americans with a tax cut paid for by the top 5% of earners. Now here's the part that is interesting about that....45% of Americans pay no taxes.
So you take from the rich and give the bottom feeders a check. That's income redistribution any way you slice it.
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Yes, but between, Reagan, Bush 1, and now Bush2, it has been proven that trickle down (aka "voodoo economics") just doesn't work. The rich get richer and keep the money for themselves, they don't suddenly pop out and put it to work.
Give a rich guy $100, and he puts it in his investment plan that buys a little more stock, and well, it sort of disappears.
Give a poor guy $100, and he goes out and buys stuff (insert anything here from clothes to food to beer to hookers, it isn't important). That money they actually works it's way through the system and creates wealth and economic activity at all levels, including in the end getting the poor guy (or his wife, or girlfriend, or mom) a job. Yes, it is trickle up economics, but at least it puts the money into the part of the economy that is active, not inactive.
I personally am against handing money back to people who didn't pay taxes to start with, but I seem to remember a recent US president (the current one) sending out checks for $1000 or so. Seems to me that both parties agree.