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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThere is no way to keep the wealth generated from tax cuts in the
Last edited Wed Jul 6, 2016, 12:34 AM - Edit history (2)
place taxes would otherwise be higher. When Kansas gives a tax cut do you think the wealthy are investing in Kansas? Of course not. They buy stocks and bonds from the stockmarkets, in companies that invest it around the world. And then the profits are not even brought home to kansas as the corporations sit their billions offshore. If people do make money of said stocks the cycle just continues. The only way to keep a good portion of the money invested in Kansas is to tax it and have the government spend it at home and on people who will spend it at home by virtue of them being not rich.
cheapdate
(3,811 posts)I never thought of that. It seems so simple though.
applegrove
(118,778 posts)well as California. I turned the idea of slower growth in some states around on its head and came up with it. I'm sure my hypothesis will soon be proven wrong. Or too simple.
cheapdate
(3,811 posts)It has a strong ring of truth. I'm not an economist or an investigative journalist, but I wouldn't be one bit surprised to find that your theory was a significant part of the big picture.