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Re: King Donald




On 2017-03-15 10:19, Disaster Master wrote:
On Tue Feb 21 2017 09:06:52 GMT-0500 (Eastern Daylight Time), Wolf K.
<wolfmac@xxxxxxxxxxxx> wrote:
Even those who pay no income tax (the bottom 20% or so) pay taxes.

There are a lot of 'poor' people who not only pay no taxes, they receive
welfare in many forms - ever heard of the 'Earned Income Tax Credit'?
Yes, they may pay some 'sales taxes', but they receive far more than
they pay.

Well, maybe so. Why shouldn't they?

Anyhow, I'm not referring only about the direct sales tax, I'm talking about the taxes passed on in the pre-tax price. Since the Government accounts for about 1/3rd of the GDP, about 1/3rd of every dollar you spend goes to government (which in turn spends some of it on useful (mostly local) goods and services, and most of it on interest and so-called defence).

Taking an even larger view, our economy depends on consumption, not production. No consumption, no production. You should be happy that the government subsidises consumption. Unlike trickle-down, trickle-up works: it keep you in business. There's only one wallet: the consumer's. The reason our economy is a mess is that too much money is redistributed upward and extracted from the economy, and used as play-money in the silly game called the stock-market. And the reason for that is that too many people believe that the purpose of the economy is to make money. That's like believing that the purpose of eating is to produce shit.

Have a good day,

--
Wolf K.
https://kirkwood40.blogspot.com
It's called "opinion" because it's not knowledge.
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