Cutting taxes on the rich

[ILUVRP]

"If a business fails then it's because they aren't good enough to run it, so why steal money from somebody else to keep them afloat? Instead, let them go out of business & let other capable people buy & take those economic resources like land, labor & capital to produce goods & services more efficiently. Profit is usually the market-indicator of success."

i agree , also the big banks/brokers/insurance companies should have been allowed to seek their own level.

[archangel689]

I'm curious is cutting taxes on the rich actually creates jobs. I understand the theory of it, but does it work in practice? Obviously no taxes would be ideal, but short of that, is this how you create jobs?

It matters more so for the wanna-be rich people. I'll quote my local free-market economics professor:
"These are the people who will create new jobs. They aren't yet rich, so they don't show up among the "rich entrepreneurs" who say that taxes don't matter. They also haven't yet taken on the risk that leads to job creation. In deciding whether or not to take on entrepreneurial risk, they will balance the risk against the expected after-tax return. The higher the tax rate, the less likely they will be to take on risk and so the less likely they will be to create jobs."

[Tpoints]

Opportunities of varying degrees always exist, so the less scared the investing community is of being robbed, the more of the existing opportunities will be utilized. Opportunities are also created. During the early half of the U.S. history total taxes (federal + state + local) were only about 5% of GDP & it turned a bunch of British colonies into a very prosperous country while the living standards of people rose rapidly & opportunities & jobs were aplenty & that's why you'd people from various parts of the world coming to the U.S., not for any "free stuff" but for the opportunities & prosperity it helped create for everyone.

wouldn't you say those opportunities only existed because land and resources were underdeveloped, and once done, they're gone?