Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 15
If you just give $1 trillion worth of tax cuts to billionaires, it's spent on stock buybacks and tax shelters in the Cayman Islands, neither of which do anything to increase domestic US economic activity.

You sound like someone who didn't graduate from high school and is angry at the world.

What do you think those with names like Buffett, Bloomberg, Musk, Soros, Bezos and Gates...to name a few.... do with their billions? Hide their money somewhere off-shore so the US Gov can't find them? Lie and cheat on their tax returns to keep the government from getting their money? A poorly educated malcontent would certainly believe this.

These people got their wealth from hard work in their early years, taking a lot of risk, rebounding from set-backs and defeats along the way, playing economic hardball and reinvesting all their excess capital over their growth years. Its how you become a billionaire....not by hiding your money overseas and then lying on your tax return where ALL earnings from anywhere must be reported.

Excess earnings from such individuals goes into things like private equity, where they are constantly looking for ways to reinvest in even better returns on others entrepreneurial ideas. Its not about making more money, its about winning at the game....and these people LOVE the game....and it is economically good for all of us they do.

Individuals don't "buy-back" stocks....corporations do that. And if a corporation has excess capital for which the board cannot find a return exceeding their dividend yield, then buying back stock makes perfect sense.

And giving a poor person anything other than basic subsistence will do that person more harm than good. They have no idea where that money came from nor what was done to originally earn it. If you continue giving it, it will be viewed as an inalienable right. None of these individuals will contribute anything to the economy....only take from it. And any money going into the black market, to include illicit drugs, prostitution or other graft, does nothing to improve the economy but will do a great deal to our moral fabric.

BruceM
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.