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Who knew that more talk about raising business taxes would tank the market?
I guess our nation no longer wants to be #2 for the highest effective business tax rate, now we are going for the gold.... I don't mean to repeat myself, but this Congress and President do not know what caused the Great Depression to be exended.
10 Answers
- Anonymous1 decade agoFavorite Answer
They know. That's why I believe they are doing it on purpose. To lead us into a new era of globalism and world government.
- Anonymous1 decade ago
Yes, go figure. Maybe people will realize that these communists called democrats are just reckless and irresponsible. I have already ad enough of Nazi Pelozi, the wicked witch from Sodom on the sea and her band of flying monkeys in the house. She and the Red Army of the Congressional Progressive Caucus must be stopped.
- 1 decade ago
Democrats do not understand that lower tax rates yield higher government revenues. It's why Upstate NY is "Appalachia" according to Mr. Liberal, Elliott Spitzer. Highest taxes mean highest poverty. They are in complete denial because their special interest groups want guaranteed revenue and could care less about who pays.
2007 was a record year for government revenues and tax rates were lower.
- Anonymous1 decade ago
Any intelligent person knew that higher taxes would tank the market. I guess this is why the politicians in Washington, DC didn't see it coming.
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- bkc99xxLv 61 decade ago
What are you talking about?
The market has only dropped 245 points as of right now today.
If it hadn't been for Obama's great wisdom, heck, it could have fallen 545 points! It's kind of like the 3 to 4 million jobs he is proposing to create or save. How in the world do you take credit for a saved job?
- dlkLv 71 decade ago
Nope they don't. I actually am fearing for this Country of ours with all these economic mis steps that both our Politicians and our President are doing.
- NoWayJoseLv 61 decade ago
Most people with a brain knew.
As long as they can still blame it on Bush they will still be saying these things. (maybe 7 more years)
- betty boopLv 51 decade ago
I agree with William - and were just sitting back and letting this happen. We need to stand up and take this crap down.
- BeardogLv 71 decade ago
Are you certain it was the talk of raising taxes, or the sudden ill-advised and suprising support for nationalizing the banking industry from the Republican party?
- CroakerLv 61 decade ago
I don't recall W talking about it when the market collapsed from 14,000 to 8000