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View Diary: Give Me One Good Reason Why The Rich Should Pay Higher Taxes (214 comments)

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  •  The rich aren't investing in businesses/jobs (2+ / 0-)
    Recommended by:
    Into The Woods, OHknighty

    One of the problems is that the rich aren't investing their money into businesses, which create jobs.  Instead, the rich are spending their money on palatial homes.  They don't have civic values and the desire to see themselves as community leaders.  If the rich were actually investing their money instead of hoarding it, there might be less of a need for higher taxes.

    •  Funny, someone above said the exact (1+ / 0-)
      Recommended by:
      VClib

      opposite: the rich are investing too much and not spending enough.  It'd be nice if someone reality-based could give us some statistical breakout.

      •  Here it is: (0+ / 0-)

        The rich don't do anything useful with all their money. If they were spending it all on toys like a million little Louis XIVs, then things just might be different....Instead, the rich squirrel it all away into paper assets -

        •  Paper assets - isn't that like investing? (0+ / 0-)

          so it goes back to what kind of paper assets that money goes to support.  

          Until we get real financial sector reform, the excess liquidity will keep chasing the newest little red balloons until they too pop.

          It's 'redistribution' whether it happens before or after the money is made and whether it goes up to a small group or down to a larger one.

          by Into The Woods on Thu May 13, 2010 at 06:54:06 PM PDT

          [ Parent ]

      •  "Investing" in what? Credit default swaps? (1+ / 0-)
        Recommended by:
        OHknighty

        Securitized mortgages?  

        If you take money away from those who are currently spending every dime they make just to make ends meet, they'll spend less and it will hurt them more.

        It's 'redistribution' whether it happens before or after the money is made and whether it goes up to a small group or down to a larger one.

        by Into The Woods on Thu May 13, 2010 at 06:51:53 PM PDT

        [ Parent ]

    •  Agreed Proud (1+ / 0-)
      Recommended by:
      Into The Woods

      Professor Henry Louis Gates Jr. is wrong. No one forced any of the founding fathers to own people.

      by OHknighty on Thu May 13, 2010 at 06:29:34 PM PDT

      [ Parent ]

    •  Also spending money in bilateral contracts like (0+ / 0-)

      derivatives, that funnel money away from real investments and the public (regulated) exchanges.  

      It's 'redistribution' whether it happens before or after the money is made and whether it goes up to a small group or down to a larger one.

      by Into The Woods on Thu May 13, 2010 at 06:50:09 PM PDT

      [ Parent ]

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