7 Biggest Economic Lies
[LIST=1][*][B]Tax cuts on the rich trickle down to the rest of us - WRONG
[/B]Reagan and Bush cuts taxes on the rich and nothing trickled down. Adjusted for inflation the median hourly wage dropped.[*][B]High tax on the rich hurt the economy - WRONG
[/B]The top tax rate was over 70% between world war two and 1980 and the economy has grew faster than it has since. Small business owners who create most jobs will not be deterred by higher taxes. Fewer than 2% of them are in the top tax bracket.[*][B]If we shrink government we create jobs - WRONG
[/B]A smaller government mean fewer police officers, firefighters, social workers and everyone else who delivers essential public services and few people working for companies that the government employs to build roads, bridges, transit systems and schools.[*][B]Cutting the budget deficit now is more import than boosting the economy with additional spending - WRONG
[/B]The long term goal is to reduce the debt as percent of the economy. Unless we get jobs and growth back that ratio worsens. So we need jobs and growth before we cut anything.[*][B]Medicare and Medicaid are killing the budget - WRONG
[/B]Their costs are rising because healthcare costs are rising. The best way to get healthcare cost under control is to use Medicare's bargaining leverage to drive down And move from fees for service to fees for healthy outcomes. And because Medicare has lower administrative cost than private insurance opening Medicare to everyone.[*][B]Social Security is a Ponzi scheme - WRONG
[/B]It's solid for 26 years and will be for the next century if we lifted the ceiling on income subject to social security payroll taxes.[*][B]It's unfair that lower income Americans pay lower income taxes - WRONG
[/B]The unfairness is that lower income Americans pay a much greater proportion of their income in social security taxes, user fees, sales taxes and tolls than anyone else.[/LIST][youtube]mM5Ep9fS7Z0[/youtube]
[URL]https://www.youtube.com/watch?v=mM5Ep9fS7Z0#t=22[/URL]
[/B]Reagan and Bush cuts taxes on the rich and nothing trickled down. Adjusted for inflation the median hourly wage dropped.[*][B]High tax on the rich hurt the economy - WRONG
[/B]The top tax rate was over 70% between world war two and 1980 and the economy has grew faster than it has since. Small business owners who create most jobs will not be deterred by higher taxes. Fewer than 2% of them are in the top tax bracket.[*][B]If we shrink government we create jobs - WRONG
[/B]A smaller government mean fewer police officers, firefighters, social workers and everyone else who delivers essential public services and few people working for companies that the government employs to build roads, bridges, transit systems and schools.[*][B]Cutting the budget deficit now is more import than boosting the economy with additional spending - WRONG
[/B]The long term goal is to reduce the debt as percent of the economy. Unless we get jobs and growth back that ratio worsens. So we need jobs and growth before we cut anything.[*][B]Medicare and Medicaid are killing the budget - WRONG
[/B]Their costs are rising because healthcare costs are rising. The best way to get healthcare cost under control is to use Medicare's bargaining leverage to drive down And move from fees for service to fees for healthy outcomes. And because Medicare has lower administrative cost than private insurance opening Medicare to everyone.[*][B]Social Security is a Ponzi scheme - WRONG
[/B]It's solid for 26 years and will be for the next century if we lifted the ceiling on income subject to social security payroll taxes.[*][B]It's unfair that lower income Americans pay lower income taxes - WRONG
[/B]The unfairness is that lower income Americans pay a much greater proportion of their income in social security taxes, user fees, sales taxes and tolls than anyone else.[/LIST][youtube]mM5Ep9fS7Z0[/youtube]
[URL]https://www.youtube.com/watch?v=mM5Ep9fS7Z0#t=22[/URL]
Total Comments 5
Comments
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Looks like all lies to me!Posted 04-19-2014 at 06:16 PM by NewPipes
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You must look deeper.Posted 04-21-2014 at 02:03 AM by John-UK
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You're absolutely right but the right wing wackos in the U.S. are cult-like followers and media outlets like Fox beat a drum that they follow religiously.Posted 12-24-2014 at 04:20 AM by mikey2
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All the whackos have to do is look at facts and figures.Posted 03-18-2015 at 04:27 AM by John-UK
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Don't know anything about Great Britain's tax laws and structure, but the 'high tax rates after WW II, the top bracket of 90% or so on capital gains is highly misleading, since tax was only paid on 50% of capital gains, i.e., 505 were exempt; for example, on $100 only $50 would be subject to tax, and '90% of $50' would be $45 at the top rate', or 45% of the total gains. The propagandists of course obviously prefer to use the '90%' number to make it look like a horror story to the unwashed who will never even have 'capital gains' income and not be aware of the deception.Posted 09-19-2018 at 11:53 PM by OberonKing
