(11-25-2017 09:03 AM)dfarr Wrote:  

(11-25-2017 07:15 AM)SuperFlyBCat Wrote:  

(11-24-2017 07:33 PM)DavidSt Wrote:  The tax cuts from Reagan to now Trump have left many people behind while the wealthy have grown. My parents made less than $10,000 a year in the 1980s, and the economy sucks. They both worked their butts off at minimum wage. Reagan's tax cut did nothing for us. It helped placed a gap between the middle class and the wealthy, As it is, the Middle Class are slowly shrinking into the working poor. George W. Bush's paid tax holiday put us into another Great Depression. What did the companies used the money for from the tax cuts? Give CEOs and board members higher pay raises, and buy back stock from investors to inflate the prices of their companies. They never reinvested any money towards the business. That is why Hostess went out of business because of the corruption in the CEO/board members.

And Trump's crowing about the 401 K's growing? Only a small number of people in this country have it, and only a few people who invests in the stock market. The majority of people think the Wall Street is a bunch of crocked crooks that steals money from people and refuse to invest in it. Do you blamed people because of the likes of ENRON?

Your parents problem had nothing to do with Reagan lowering income taxes.
Their problem was income period. I made more money than your Dad, mostly working part time during college and full time in the summer, painting houses and working at Best Buy type store from 85'-89'. No the economy did not suck. Your parents were the problem. Did they actually have babies during this time? LOL

Yeah, if your parents, as adults, were both making minimum wage, then THEY had the problem, not the economy. Statistically speaking something like 3% of minimum wage jobs are held by adults working full time.

Also, tax cuts done affect those who pay no taxes. A cut of 0 is still 0.

And if people would rather rely on social security instead of a 401k, then they're idiots. I'd love to be rid of SS so that I could invest that extra 6.5% into retirement, plus probably get a raise of some sort since my employer wouldn't have to pay the other 6.5% to SS as well.

401 K and the Stock market is a ponzi scam. I will never invest in scams like that.