Of course it makes the pie bigger, particularly when the money is so concentrated with the 1%.frmanfan wrote: ↑Tue Feb 12, 2019 1:53 pm You guys do realize that the money from "the rich" already goes into our economy, right? They spend, invest, give it away, whatever, but it already goes into the cycle. Taxing it only changes what is done with it and who decides what is done with it. It doesn't make the proverbial pie any bigger.
How many pizzas does Bill Gates order a night. Now how many can 1,000 people order? Those 1,000 people that are just getting by will SPEND that money. Bill Gates won't.
What's Bill doing with his money? For one, he holds stock that does nothing. A big, fat nothing. It makes no direct difference to Microsoft's fortunes if that stock price is $100 per share, or $50 per share, now does it?
And now what is Bill doing with his money? How much of it stays in America? Any economist will tell you, the money for the 1% goes overseas, doing the American economy no good whatsoever.
I'm not a guy who wants to morally vilify the rich, but having so much money in the hands of so few is inherently bad for economies. You and I need customers! We need a middle class! The middle class is literally what differentiates us from 2nd and 3rd world countries.
That said, the real issue is that EVERYONE needs to pay more Federal taxes...as I've said for years, the average tax filer, across the board, is paying half of what they did under Clinton. That's unsustainable. We can't fix our financial problems by taxing the 1%, and no one else.