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Which would be better for the economy?

Discussion in 'Business & Economics' started by dahermit, Jun 25, 2008.

  1. dahermit

    dahermit Well-Known Member

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    Which of the two situations would be better for the economy?

    First, one man owns a company and makes $1,000,000 (or more) a year. He buys one foreign luxury car, buys food, gas, heat, energy, and a few other things locally. He sends his kids to collage out of state. He, like Dick DeVoss (ran for Gov. of Mich. and lost.), establishes an over-seas bank account on which he pays no taxes. He and his company invests in Chinese manufacturing.

    In the alternative situation, instead of the one person getting $1,000,000, 40 workers are paid $25,000 in wages. They all buy American cars, food, gas, heat, energy, and most other things locally. His kids attend community collage.

    I am not an economist. Would someone please tell me which of these two scenarios would be better for the American economy and why?
     
  2. Federal Farmer

    Federal Farmer Well-Known Member

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    Without knowing for certain what kind of business the "evil rich man" owns, or how many people he employes, I'd still have to go with the rich guy, for one simple reason, even with his offshore accounts (where he puts his money AFTER he's paid taxes on it), he's still paying more in taxes than all 40 or your low wage earners combined.
     
  3. dahermit

    dahermit Well-Known Member

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    He pays no taxes on the interest on the money he has deposited on the Caribbean Island, pays no taxes on the money he has made in China.
    I do not say that he is "evil", inasmuch as that would be subjective. However, I will say that Dick DeVoss in a lier because that was proved when he stated that the money he invested in China was for a factory that made things for sale only in China. During the campaign for governor of Michigan, political opponents of his displayed the stuffed bears his Chinese company made that were for sale in the United States with a tag that were clearly marked: "Made in China."

    The scenerio was not a rich man with 40 employees, it was a rich man or 40 employees.
     
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