OMG It’s the ghost of trickle down economics and it is bogus. In the 60’s and 70’s taxes in billionaires was INCREDIBLY high. Reagan slashed taxes and made us a debtor nation.
“O’Leary and others have noted that lowered capital gains tax rates are a good thing. He says entrepreneurs generally ‘don’t make any money because [they’re] taking it all and putting it into companies to grow them.‘“
Actually they go into bank accounts, overseas and property. 1/2
https://moneywise.com/a/ch-msna/kevin-oleary-taxes-for-rich-americans_1728125441438
This line is complete and utter bullshit. You DO NOT HIRE OR INVEST IN YOUR BUSINESS because you have extra cash lying around.
This does not happen. That is not how business works. This lie is literally over 100 years old when we were still doing horse and buggy (it was called horse and sparrow). It is responsible for a major crash of the economy (Harding I think?)
I’m really tired of this nonsense.
Trickle down economics does not work. Cutting taxes for billionaires does not create jobs.
I have a measure that just right now I call the pee calculator. How much does it cost a company when you pee.
If you are making minimum, about 40 cents — never mind they watch you like a hawk — which shows the stupidly of business.
If you make a $1,000,000 / year? $24.00.
Are these executives watched? Hell no.
Business is insane.
Ben & Jerry’s when they were still independent had a 18:1 rule. You couldn’t make more than 18 times the lowest paid employee. Which I think is STILL too much.