Taxing the Capitalists

This poll forgets one important thing. The profits that the company doesn't reinvest go to the stockholders. That's us and our 410K's. The people who responded that companies should charge less and pay more are fools. Companies are in business to make profit, not employ workers. Workers are a necessary evil. If workers want to make more money, they should look for ways to make themselves more valuable such as more education or OJT. If companies don't make profit, they go out of business.

Another thing about this poll is that I believe that the vast majority of capitalists will re-invest the money, b/c they want to make more money. Almost all rich people are rich because of their ambition, and their desire to make more money. This desire will keep them reinvesting and growing the economy b/c that is the best way to make more money.

BTW it has also been proven that tax cuts succeed where government programs to boost the economy fail. In the early and mid-1930's FDR tried, with little succsess to institute a massive slate of government programs to boost the economy. Yet the depression continued into the early 1940's. It wasn't until WW2 forced investment in private industry that America broke out of the depression. In the mid 60's Johnson instituted the Great Society, the largest government program designed to boost the economy in history. In the 15 years that followed unemployment steadily increased, and inflation was in double digits for much of that time period, while household income was stagnant (hence the term stagflation). Only in the 1990's did we finally fully recover from this disaterous expirement.

Also three other presidents have had huge sucsess with tax cuts. JFK cuts in the early 60's led to nearly a decade of prosperity. Reagans tax cuts in 82 led to the highest quarter of GDP growth in history in 1983 at more than 7%(3% is considered a boom), As well as the creation of more than 18 million jobs over the next decade, and 20 million in the 1990's. And Bush's 01 and 03 tax cuts insured that the recession of 00-01 was one of the mildest on record. Check the Congressional Budget Office statistics (the economy shrank by less than 1% during the recession, and in fact many economists point out that it technically does not fit the definition of a recession at all).