Huffpost Article
So are corporations purposely not spending the $3 trillion that they've hoarded since Obama saved the economy just to spite him? I'm not 100% sure, but seeing how much they whine about taxes and how they have this huge burden, it wouldn't surprise me. They're making the most profits in the history of making profits and they're screwing over America because their feelings were hurt? Yes, Obama rips on some of the rich. They deserve it. These are the rich people that have more money than I could ever dream of in their personal accounts, and bitch when their taxes go up 3%. They act like they deserve more respect than anyone and when they screw up, they aren't held accountable... ever.
My conservative father says that corporations have the spending power and shouldn't be taxed at all. Let's ignore the fact that he also said gas would be $6 a gallon right now and that he said that the world would fall apart and we'd have to shoot our way out (out of what?) in 6 to 8 months... that was in July of 2011. I love my dad, but he's just out of his mind on a lot of things and straight up wrong on others. I blame Fox News.
If these companies have all of the spending power, which I guess they do, why don't they use it? They're hoarding all this cash, cash that could be used to stimulate the economy even more and I'm supposed to be on board with just letting them keep it to do nothing with? How is this a good argument for lower taxation on the rich and corporations?
First off, a non conspiratorial reason that corporations aren't hiring people with their pile of money is that there isn't a demand for their products (this doesn't enter into the banks hoarding money equation). If we took half of that hoarded money and hired people to build roads and bridges, to teach children, and other public works, they would buy stuff. The increased business would lead to businesses being forced to hire people, and the extra capital would help the economy even more. Hell, if we took a third of the money... $1 trillion, that would get the economy on track. The first stimulus took us from losing 600,000 jobs to gaining 268,000 at the height of the recovery. Even the gaining less than 100,000 lately is better than losing that many. Of course my ConDad would say those numbers are lies, but how do you argue with non-facts?
Conservatives have a very hard argument to make. The messed up thing is, that if I were rich, I would proudly pay my taxes and not bitch... and still be rich.
I'd also like to point out that these rich people and CEOs are supposed to be the titans of industry. People we look up to. They hoard their money for petty reasons and could help improve the economy with simple decisions, but they won't. I think that's unpatriotic at best, and treasonous at worst.
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