Non Trump Supporters

Agreed. I, however, do not think we should enact this. We just shouldn't tax people because they have more money.

 

ok than what's your idea

 

They actually lose less percentage of their money than poor people do with the current taxes. Also, we're not taxing them because they have more money, because no matter what you still have to pay taxes. We're taxing rich people because it's fair to the rest of the population.

 

in 2007, the richest 1% held about 38% of all wealth in the United States. while 90% held 73.2% of all debt. According to The New York Times, the richest 1 percent in the United States now own more wealth than the bottom 90 percent.

 

My idea is, don't tax people for things they don't use. Tax only as much is necessary.

 

We shouldn't be taxing people because it's "fair." Of course, everyone pays taxes. But if the economy does lose money, then maybe they shouldn't be getting it from taxpayers money.

 

were would the government get the money from then?

 

They not only print their own money, but they would also get money from fair taxes such as Medicare, corporate income and real estate.

 

You realize to print the money they need resources in the economy right? Because you need valuable resources to print the money, or the money has no worth. Our economy is backed by trade, and just printing money won't do anything to hep the economy. The money needs to be backed by something.

 

u can't mess with dat boi because dat boi knows his ****

 

They can always print their own money. Please re-read what I actually said. The economy is backed by taxes as well as trade. Printing money does help the economy because money is the valuable resource.

 

"Let me try to remove some of the confusion. Imagine the only good in the economy is corn and corn costs $1 a pound, and imagine you and all others earn $100 a month. Each month you buy 100 lbs of corn exchanging $1 for 1 lb of corn; so the real value of $1 is 1 lb of corn. Now suppose the government simply prints more dollar bills and gives you (and imagine everyone else) an additional hundred dollars. If you want to eat more than 100 lbs of corn a month, now you can do so but presumably, since others like you also want to do the same, the demand for corn in the economy would go up and very likely its price as well. Now you would have to give up, say $1.50 for each lb of corn. This, roughly speaking, is inflation, and it is eroding the real value of your dollars -- you are getting less corn for every dollar than you used to.

You ask, won't firms rush to meet this extra demand caused by everyone having an extra hundred dollars? Yes, they would but they'd have to hire people to work in the farms and the higher demand for workers would likely raise their wage. Also, workers will see the inflation around them and want higher dollar wages so they can continue to buy as much corn as before. In short, wages in real terms would rise and this would erode profits and as such, farms will not hire as many workers as you'd think. So yes, there can be a short-lived stimulative effect of printing money.

Bottom line is, no government can print money to get out of a recession or downturn. The deeper reason for this is that money is really a facilitator of exchange between people, a middleman in a trade. If goods could trade with goods directly, without a middleman, we would not need money. If you print more money you simply affect the terms of trade between money and goods, nothing else. What used to cost $1 now costs $10, that's all, nothing fundamental or real has changed. It is as if someone overnight added a zero to every dollar bill; that per se, changes nothing. Just as giving every student 10 extra points on a test changes nothing fundamentally."

link: https://www.econ.iastate.edu/node/673

Does this change your mind?

 

Hey FridayIX, do you think that wind turbines kill birds like trump does?

 

No, because it didn't even challenge the point I was making. I NEVER said that printing more money could stabilize the economy.

 

Neither turbines nor Trump kills birds.

 

I want to know more about how we get taxes from medicare.

 

Yes of course. As you can see, they make up a large section of our government revenue chart.

 

but thats what you said, Right?

 

that's still taxes

 

Yeah, I know, but he tweeted that once.