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1 WINDUPBIRD DISEASE [S.K.U.M.M.]  Sep 13, 2010 2:28:40pm

hah remember when I was basically saying the exact same shit and all the NUUU TAXES BWEH types on LGF were all butthurt at me?

Good times

2 spudmom  Sep 13, 2010 7:22:31pm

So, savings is bad, because it puts capital into companies through stocks, or municipalities through bonds, or into lenders through banks? Or is it just if they hoard it by buying gold and storing it in huge vaults in their mansions?

Rich people save if they think things will get worse in the future; they want to preserve their lifestyle. They spend when they are confident it will be better; that there will be lots of opportunity to make money.

3 Jeff In Ohio  Sep 14, 2010 6:44:32am

re: #2 spudmom

So, savings is bad, because it puts capital into companies through stocks, or municipalities through bonds, or into lenders through banks? Or is it just if they hoard it by buying gold and storing it in huge vaults in their mansions?

Rich people save if they think things will get worse in the future; they want to preserve their lifestyle. They spend when they are confident it will be better; that there will be lots of opportunity to make money.

No saving is not bad, strawmen are bad. If the tax breaks were meant to be for ever, they would have not had sunset provisions. People in the top income brackets are paying historically low income tax while deficits pile up, infrastructure rumbles, services are cut and income disparities grow.

As someone who is decidedly middle class (our family of 4 income is less then $80k), we;re be prepared to take a hit and let the whole thing sunset.


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