There can never be enough super rich Americans like me to power a great economy. I earn 1000 times the median wage, but I do not buy 1000 times as much stuff. My family owns three cars, not 3,000. I buy a few pairs of pants and a few shirts a year, just like most American men. Like everyone else, we go out to eat with friends and family only occasionally. I can’t buy enough of anything to make up for the fact that millions of unemployed and underemployed Americans can’t buy any new clothes or cars or enjoy any meals out.
This is like turkeys voting for Christmas. Can we really expect the elite like Trump or Romney, who pay disproportionally less taxes than the average guy to change the tax system […]
Corporate profits are way up, and corporate taxes are way down. In 1952, corporate profits were 5.5 percent of the economy, and corporate taxes were 5.9 percent. Today, corporate profits are […]
We don’t think this is likely: Previous experience hasn’t shown it The Reagan revolution is overhyped, growth didn’t accelerate whilst inequality rose Today’s conditions are even less conducive, corporate tax […]
Bruce Bartlett, the guy who actually designed the Reagan tax cuts, cuts through the nonsense and neatly sums up why they aren’t likely to produce any economic boom. See: Why are […]