So just watch the first 30 sec …
And now Ryan claims that giving tax cuts to the rich trumps debt reduction, even if we have to screw the masses. This is full … on … trickle down economics. Giving a lower tax rate allows the wealthy to invest, which allows the noble job creator to run amuck hiring us lowly wage earners in copious numbers. So how did that little experiment work out during the Bush years? BADLY.
Let’s see …
Job growth over 8 yrs ~1 million
Median wage growth – Flat
Poverty rate – increase from 11.25% to 13.2%
Corporate after tax profits from 2000-2012 increased 200%. That’s an annualized rate of 6%
Looks like trickle down was a FAILURE
And as a final nail in the coffin, here is a chart of capital gains vs capital gains tax rates along with a chart of net private investing as a percentage of GDP. There is NO correlation between the taxes and investment, zip, zero, nada.