Black Monday here we come

[Jim in CT]

Originally Posted by spence

it's quite possible that the wealthy did increase their share of the burden in that time period...But to claim this is a result of the Bush tax cuts while ignoring other economic factors seems like really, really heavy spin to me.

-spence

Spence, a rational person could make a strong case that the Bush tax cuts led directly to the wealthy paying more taxes. You see, a cut in tax rates lets people keep more of their money. When that happens, wealthy folks have more incentive to take chances by investing in growth. When those investments bear fruit, those wealthy people have to pay taxes on the gains. Therefore, a cut in tax rates could easily trigger an increase in investment by wealthy folks. That argument has no "spin" whatsoever, and it sounds fairly reasonable to me.

Now Spence, perhaps you could tell us all why, in your opinion, lowering tax rates DOES NOT encourage investment in growth? Enlighten me, Spence. Please tell me how a cut in tax rates does NOT encourage people to invest more...