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View Diary: Markets hated the tax cuts for the rich (288 comments)

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  •  It's pretty elementary... (2+ / 0-)
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    Limelite, hadrons

    Giving more money to the wealthy DOES NOT STIMULATE the economy.  It just gives them more money.  And it makes them LAZY because they do not have to work for return on their investments.  When you pay high taxes on your money, you are going to be very shrewd on your investments.  If you pay practically no taxes on your long term investments, you are going to put your money in the least risky investments.  All these tax cuts do is allow the rich to suck more capital out of the markets.  It's no surprise the market is acting accordingly.

    "I disagree that we didn't get anything," Rep. Gary Ackerman (D-N.Y.) deadpanned to his colleagues. "We got screwed."

    by RichM on Fri Dec 10, 2010 at 07:29:44 AM PST

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