Fifty Years of Tax Cuts for Rich Didn’t Trickle Down, Study Says
If we tax the rich, the taxes go straight to the government. A thriving economy needs CHURN. Please note: it’s not about the taxes..plain old taxation creates stale economies..it’s about how much people spend and buy and produce and keep money in circulation. The economic churn. More churn, more prosperity because we are creating movement of spending money that came from capital to keep alive a thriving economy.<p>Taxing the rich ..those few amongst us..will result in a welfare state with no vibrant economic activity and everyone being dependent on the state because if there is no income, there is no movement. No small businesses, no new start ups, no way to spend money in all those conspicuously consumptive ways.<p>While it’s fun to act shocked at the number of billionaires amongst us..most of it is tied up in stocks that can’t be liquidated. The high stock price determines dividends..pension funds, investment firms, wealth funds, retirement funds, universities, everyone invests in these stocks that allows people to retire and spend and splurge and buy homes etc.<p>The hypocrisy of the outrage is laughable. Case in point: Chicago teachers Union protested in front of Jeff Bezos home with a guillotine because he became the first man to be worth 200 billion. [1]<p>The same Chicago teachers Union owned 45k AMZN shares which brought its investment in amazon to ..wait for it.. $86 million+. In year ending 2019. Trickle down capitalism doesn’t work? .. right then!<p>[1] <a href="https:&#x2F;&#x2F;www.thecentersquare.com&#x2F;illinois&#x2F;ctu-sparks-controversy-with-tweet-about-guillotine-outside-amazon-ceos-home&#x2F;article_d7c8ba36-e957-11ea-9bc7-e3e466d3ef28.html" rel="nofollow">https:&#x2F;&#x2F;www.thecentersquare.com&#x2F;illinois&#x2F;ctu-sparks-controve...</a><p>[..] The Chicago Teachers Union sparked controversy Thursday when it said it was &quot;completely in support&quot; of demonstrators who built a guillotine outside of Amazon CEO Jeff Bezo&#x27;s home.<p>The union tweeted a video of the guillotine and wrote, &quot;We are completely frightened by, completely impressed by and completely in support of wherever this is headed.&quot; The tweet generated both support and outrage online.<p>The controversial tweet came as Bezos reportedly became the first person to acquire a personal $200 billion fortune.[..]<p>[..] The Chicago Teachers’ Pension Fund owned 45,754 shares of Amazon stock worth $86,641,147 at the end of fiscal year 2019, according to its 2019 Comprehensive Annual Financial Report.<p>The pension fund is governed by a 12-member board of trustees. Active teachers elect six of the pension board&#x27;s trustees.<p>The report showed the pension fund&#x27;s Amazon stock was its second-largest domestic equity holding behind Microsoft in 2019. In addition to Microsoft and Amazon., the funds top 10 domestic equity holdings included Apple, Facebook, Alphabet, Chevron, Visa, Berkshire Hathaway and Johnson &amp; Johnson, according to the report.[..]