As I was going door to door yesterday I stopped at a book store that absolutely screams “progressive” but is a mostly cool place with a fair amount of Anime and some wonderful used old volumes. At the store I asked the question I ask at almost every business, what would you do to stimulate the economy?
It was his opinion that the problems were systemic (first person to have that conclusion that I talked to) however there is one thing he knew for sure:
I wouldn’t give tax cuts to the rich.
I don’t know who he thinks actually hires people (I’ve never seen a paycheck written by a poor person) but his opinion has been a distinct minority in the hundreds of doors I’ve knocked on in the last month.
It’s certainly not my business to argue with potential customers (and he is more than welcome to get on our customer waiting list with the show sold out) but let me make the opposite case.
It has been amply demonstrated that Cutting Taxes across the board increases tax revenue as the money gets spent over and over (and is taxed over and over at the lower rate). It’s a simple business principle. You make more money selling 5 items with a $1 markup then 2 items at a $2 markup.
Remember Williams Restaurant? If you can’t sell a $20 steak sell $8 burgers and sell more of them.
People seems to have this image of rich people as Scrooge McDuck with a Money Pile diving into it, or of Mr. Krabs chasing pennies, you are more likely to see the rich chasing profit and or comfort and both of those things generate jobs.
It is the rich who chasing profit, invest in new business’ and ventures financing both their ideas and the ideas of others. This is the a big job creator.
And it is also the rich who after making said money buy expensive things like yachts and customer cars or restoring WW 2 Tanks and other expensive hobbies, this employees a lot of people.
And it is the rich who keep their houses spic and span hiring staff and cleaning companies and landscapers etc…
And if you are an artist, tell me who is going to pay you $5000 for some bent metal or a faux stuffed emu? It is not going to be the avg guy. It is either going to be the rich who have money or the government who is spending another persons money.
The truth is many people don’t care about the revenue levels, they are simply socialists looking to redistribute wealth and punish those who in their mind have too much.
The secret to a happy life is to not worry about if someone else has more than you. Do the best you can with what you have and appreciate it.
And as I type this the unemployment rate went up to 9.8%. Unexpectedly I’m sure.