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(Mother Jones)   The economy is in a tail spin? Better cut taxes for the rich   (motherjones.com) divider line
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2803 clicks; posted to Politics » on 13 Jul 2020 at 11:10 PM (3 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2020-07-13 9:50:31 PM  
Cutting taxes on the rich during an economic downturn is a temporary, but necessary strategy.  Once the economy picks up again then it will be time to cut taxes even more on the rich.

See: Laffer, Arthur (1974) On a napkin in the Two Continents Restaurant, Hotel Washington.
 
2020-07-13 11:12:57 PM  
Guillotines.
Firing wall.
Noose.


Take your pick rich people.
 
2020-07-13 11:14:00 PM  
"a bunch of mindless jerks who'll be the first against the wall when the revolution comes,"
 
2020-07-13 11:18:12 PM  
But you have to agree the Mercedes Benz ad in the article is a nice touch!
 
2020-07-13 11:19:23 PM  

The.anti-Larry: Cutting taxes on the rich during an economic downturn is a temporary, but necessary strategy.  Once the economy picks up again then it will be time to cut taxes even more on the rich.

See: Laffer, Arthur (1974) On a napkin in the Two Continents Restaurant, Hotel Washington.


I am just going to get this out of the way early on :

Fark user imageView Full Size
 
2020-07-13 11:20:23 PM  
This bread is stale and the circus is infuriating.
 
2020-07-13 11:21:28 PM  
The "targeted stimulus" will probably be something along the lines of cutting taxes on anyone making 200k plus to 0%.

I wouldn't be shocked if they somehow reduced the minimum wage and somehow tried to spin it as a stimulus.
 
2020-07-13 11:22:44 PM  
Squeezing blood out of stones/turnips, while ignoring the 500 lb pig laying belly up 5 ft. away is kind of a strategy I guess.
 
2020-07-13 11:24:45 PM  
-- Capital gains holiday

What this tells me is that the administration knows the stock market is going to take, and they don't want to pay the taxes when they cash out their gains.
 
2020-07-13 11:25:03 PM  
Rent is coming do, pretty soon millions of people will be forced into the streets.

What's going on in the streets? Protests last I checked. So, millions of newly homeless people will be pushed into the protests.

Wonder which side they'll march on.
 
2020-07-13 11:25:55 PM  

leehouse: The "targeted stimulus" will probably be something along the lines of cutting taxes on anyone making 200k plus to 0%.

I wouldn't be shocked if they somehow reduced the minimum wage and somehow tried to spin it as a stimulus.


And no matter what the next package ends up actually including, most of Fark will agree that you were completely right.
 
2020-07-13 11:25:56 PM  

GeeksAreMyPeeps: -- Capital gains holiday

What this tells me is that the administration knows the stock market is going to take, and they don't want to pay the taxes when they cash out their gains.


*tank
 
2020-07-13 11:28:02 PM  

GeeksAreMyPeeps: -- Capital gains holiday

What this tells me is that the administration knows the stock market is going to take, and they don't want to pay the taxes when they cash out their gains.


Get out now.
 
2020-07-13 11:28:13 PM  
The teats of mother hope have run dry.
 
2020-07-13 11:28:14 PM  
How many millions of people are going to be evicted come September first? How does Steve Mnuchin plan to make money off of this crises?
That man is like a vulture.
 
2020-07-13 11:29:04 PM  

HerptheDerp: Rent is coming do, pretty soon millions of people will be forced into the streets.

What's going on in the streets? Protests last I checked. So, millions of newly homeless people will be pushed into the protests.

Wonder which side they'll march on.


I can make a good guess at which side will at least be offering snacks/refreshments... which are kind of nice when you're homeless.
 
2020-07-13 11:32:37 PM  
Revolution isn't going to happen against the rich because the nation is to wrapped up with an us vs them fight between Democrats and Republicans. People are easily manipulated by their emotions and the nations news cycle have been leading the masses around by their nose for the past 40+ years. No, the rich will be fine, like they always have been.
 
2020-07-13 11:32:38 PM  

BMFPitt: leehouse: The "targeted stimulus" will probably be something along the lines of cutting taxes on anyone making 200k plus to 0%.

I wouldn't be shocked if they somehow reduced the minimum wage and somehow tried to spin it as a stimulus.

And no matter what the next package ends up actually including, most of Fark will agree that you were completely right.


I mean I don't think such an insane proposal would get through the house (I doubt most of the proposed things would get through without significant given up, but I might be overly naive/optimistic for some stupid reason).
 
2020-07-13 11:33:03 PM  
"Payroll tax holiday" is a death sentence on Social Security (SocSec gets it's funding from payroll taxes). It's a GOP poison pill and Pelosi would have to be out of her goddamn mind to even consider it.
 
2020-07-13 11:36:33 PM  

leehouse: I mean I don't think such an insane proposal would get through the house (I doubt most of the proposed things would get through without significant given up, but I might be overly naive/optimistic for some stupid reason).


It wouldn't.  But that's basically what everyone and here thinks the first package was.
 
2020-07-13 11:37:00 PM  
Behind in the polls? Better cut taxes.
 
2020-07-13 11:38:07 PM  
pbs.twimg.comView Full Size
 
2020-07-13 11:39:32 PM  

Night Train to Wakanda: Guillotines.
Firing wall.
Noose.


Take your pick rich people.


Cheese wire is cheaper than a guillotine, but works about the same.
 
2020-07-13 11:41:33 PM  

The.anti-Larry: Cutting taxes on the rich during an economic downturn is a temporary, but necessary strategy.  Once the economy picks up again then it will be time to cut taxes even more on the rich.

See: Laffer, Arthur (1974) On a napkin in the Two Continents Restaurant, Hotel Washington.


Citing Laffer is a good way to get laughed at.
 
2020-07-13 11:45:40 PM  
Hold up.  There was a phase 3? What was it?
 
2020-07-13 11:48:27 PM  

leeksfromchichis: Night Train to Wakanda: Guillotines.
Firing wall.
Noose.


Take your pick rich people.

Cheese wire is cheaper than a guillotine, but works about the same.


Piano wire is more durable, and easier on the gloves .
 
2020-07-13 11:49:10 PM  

No1farker: Hold up.  There was a phase 3? What was it?


media.tenor.comView Full Size
 
2020-07-13 11:54:33 PM  
At least that's farking normal.
 
2020-07-13 11:54:52 PM  
Plenty of lamp posts in Washington DC.
 
2020-07-13 11:59:33 PM  
Capital gains taxes aren't only paid by rich people.   If you are middle class and not getting hit with it periodically you are doing life wrong.
 
2020-07-14 12:01:05 AM  

leehouse: The "targeted stimulus" will probably be something along the lines of cutting taxes on anyone making 200k plus to 0%.

I wouldn't be shocked if they somehow reduced the minimum wage and somehow tried to spin it as a stimulus.


Let's see. . .

It's a "job stimulus", that makes it easier for employers to hire more workers by reducing overhead and labor costs, allowing "job creators" to employ more Americans than ever before!

/I feel dirty writing that.
//Sounds like crap they'd use to justify it though.
 
2020-07-14 12:01:35 AM  

Non Sequitur Man: This bread is stale and the circus is infuriating.


'Bread and circuses' has always meant hoard all the bread and act like a clown. In related news, Oceania has always been at war with Eastasia.

And people wonder why this cavalcade of miscreants is constantly trying to destroy public education.
 
2020-07-14 12:13:06 AM  
Greed feeds Capitalism
And that beast is hungry

/we might be f*cked
//we are not, by any means, the richest nation
///we just have lots of rich citizens who don't give 1 f*ck about anything but money
 
2020-07-14 12:17:50 AM  
denverpost.comView Full Size


*bread and circus noises*
 
2020-07-14 12:20:51 AM  
Fark user imageView Full Size
 
2020-07-14 12:22:07 AM  

Gotfire: Capital gains taxes aren't only paid by rich people.   If you are middle class and not getting hit with it periodically you are doing life wrong.


Very few people in the middle class are investing in the stockmarket for anything other than a 401k.  That is just a dick statement.
 
2020-07-14 12:23:05 AM  

No1farker: Hold up.  There was a phase 3? What was it?


Fark user imageView Full Size
 
2020-07-14 12:27:00 AM  
It's probably pretty obvs..but I got a bad bad feeling about all of this.


/...
 
2020-07-14 12:27:48 AM  
When society finally completely collapses, taxes will be zero!

Also the rich will be raped to death and eaten. Maybe in that order. But at least they saved some now-worthless money!
 
2020-07-14 12:30:34 AM  

leehouse: The "targeted stimulus" will probably be something along the lines of cutting taxes on anyone making 200k plus to 0%.

I wouldn't be shocked if they somehow reduced the minimum wage and somehow tried to spin it as a stimulus.


They don't have to bother reducing anything. The minimum wage is already effectively being reduced by all the money printing. Looks like even more reductions to come.
 
2020-07-14 12:33:06 AM  
Fark user imageView Full Size
 
2020-07-14 12:36:17 AM  

NateAsbestos: When society finally completely collapses, taxes will be zero!

Also the rich will be raped to death and eaten. Maybe in that order. But at least they saved some now-worthless money!


They shake the board...they don't destroy it.

The Federal Reserve and its money will still be the legal tender


Shivers. F*ck
 
2020-07-14 12:36:18 AM  
The reality is that it's build this way so it will never pass the House. The Trump Administration and the Republican Party can shrug their shoulders and say "See, we tried to help but the leftists controlled by Biden wouldn't let us."
 
2020-07-14 12:41:43 AM  

Gotfire: Capital gains taxes aren't only paid by rich people.   If you are middle class and not getting hit with it periodically you are doing life wrong.


Even with 401ks being used as a replacement for pensions the vast majority of people earning middle class incomes don't have anything in the stock market.  It's almost entirely the sole domain of the wealthy and upper classes.
 
2020-07-14 12:47:06 AM  

Jiggatron69: [denverpost.com image 850x566]

*bread and circus noises*


Who the fark wears black gloves like that? She's gross. Absolutely stomach turning.
 
2020-07-14 12:48:20 AM  
Cutting taxes is for socialists. In a free country, we pay back everyone who made more than $100M all of their taxes paid over the past 25 years, They will then go out and buy a $40k Rolex, a $300K Lambo and a $100m Lürssen yacht, you know putting the money right back into the economy, to make sure, Walmart greeters will still get their $7.25/hr paycheck.

/Larry Kudlow told me so
 
2020-07-14 12:54:15 AM  

Toxic Park: Jiggatron69: [denverpost.com image 850x566]

*bread and circus noises*

Who the fark wears black gloves like that? She's gross. Absolutely stomach turning.


Aha,
That's what's triggering the repulsion about those gloves:

Fark user imageView Full Size
 
2020-07-14 12:57:31 AM  
You can really tell who the GOP govern for and ONLY govern for.
 
2020-07-14 1:06:59 AM  

AAAAGGGGHHHH: "Payroll tax holiday" is a death sentence on Social Security (SocSec gets it's funding from payroll taxes). It's a GOP poison pill and Pelosi would have to be out of her goddamn mind to even consider it.


Like the one Obama signed? Funny. SS and Medicare didn't die then.

https://obamawhitehouse.archives.gov/​b​log/2012/02/22/president-obama-signs-p​ayroll-tax-cut
 
2020-07-14 1:09:08 AM  

Gotfire: Capital gains taxes aren't only paid by rich people.   If you are middle class and not getting hit with it periodically you are doing life wrong.


This.
 
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