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View Diary: MILLIONAIRE INVESTOR: "If the Rich Were Job Creators, We'd be Drowning in Jobs Today." (86 comments)

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  •  That's EXACTLY what tax policy between WWII (6+ / 0-)

    and the Reagan administration encouraged.

    By taxing the ludicrous excesses of wealth accumulation to a point (top marginal rate was 90% for a looong time) at which there was no point in attempting that kind of egregious economic vacuuming, the money was reinvested in the businesses, or donated to public projects. Many examples of gorgeous public architecture from the late 1940s and 50s were essentially big, ostentatious mechanisms for saying "in your face" to the tax man, while simultaneously gaining public accolades for one's "generosity." (Carnegie is an excellent example).

    The best way to grow the economy is to grow the paychecks of the people who perform the labor in the economy.

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