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Saturday, January 2 2010 |
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- Rich Americans are facing a rising foreclosure rate too thanks to the "trickle-up effect." The number of foreclosures on homes worth more than the $729,750 jumbo-loan limit jumped 127% during the first ten weeks of the year vs. the year before.
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This news story has 12 comments:
Many of these jumbo loan holders are not exactly rich but leveraged to the max.
..."Trickle Down" effect = 28 years of Reaganomics = Tax Cuts for The Rich, Deregulate Everything.
Fixed yer typo.
Under Reagan the rich paid more taxes then they ever did under Carter. Not because the rate was high, but because they made so much money tax revenue went up. When the rich, in aggregate, make a lot of money everyone wins. When they don't everyone loses. When the government fails to monitor the abuses then we end up with a population that is outraged because it seems like the thing to do.
That is not to say there are not some abuses that should be examined, but most rational people do not destroy everything because of one bad apple.
On May 06 12:45 PM Neil459 wrote:
> Just Say Whoa!, please provide an example where a person on welfare
> has created more jobs and opportunities than a millionaire. It just
> does not happen. Trickle Down is a fact, even if you do not like
> it. "Tax Cuts for the Rich" is a class envy phrase, uttered by the
> ignorant. You would never think of burning down your own rental home
> and yet you want to punish those that have figured out how to create
> jobs. It takes money to create jobs and its takes wealth to create
> jobs. Without it, your only choice is to wear a Mao uniform and slave
> away for nothing.
>
> Under Reagan the rich paid more taxes then they ever did under Carter.
> Not because the rate was high, but because they made so much money
> tax revenue went up. When the rich, in aggregate, make a lot of money
> everyone wins. When they don't everyone loses. When the government
> fails to monitor the abuses then we end up with a population that
> is outraged because it seems like the thing to do.
>
> That is not to say there are not some abuses that should be examined,
> but most rational people do not destroy everything because of one
> bad apple.
On May 06 12:50 PM user344210 wrote:
> People on welfare create tons of jobs. For government bureaucrats.
On May 06 12:51 PM Neil459 wrote:
> I stand corrected.
>
> On May 06 12:50 PM user344210 wrote:
> People on welfare create tons of jobs. For government bureaucrats.
On May 06 12:51 PM Neil459 wrote:
> I stand corrected.
>
> On May 06 12:50 PM user344210 wrote:
You can predict what a seat warmer is going to do and will need. Taking risks and creating wealth is not predictable. One cannot even predict the tax revenue. Therefor this government will never support the risk taker.
On May 06 01:09 PM user344210 wrote:
> . . . knowing that simply by shining
> a seat with your ass you're building a gold-plated, riskless pension,
> their stupid comments make a hell of a lot more sense.
I just wish we had a little bit less financial innovation over the last several years!