Would killing the economy help the poor?

[mrplunkey]

Nice diversion, but still, I think that if there is anything not junk-science about the Laffer Curve, everyone would agree that we are already below the Equilibrium Point and that further tax cuts would not increase the tax revenue stream.

So you are arguing that we are on the near side of the curve (on the positive tangent side).

That being the case, you are indirectly supporting the idea that a tax increase wouldn't have a material impact on the economy, correct?

 

[Mr. dB]

Regardless of the economy, we are not in a position where a tax cut would increase tax revenues. A hike at this time might not be wise, but eventually it's gonna have to be done.

A tax hike is never popular, and probably is never good for the economy in the short term. The Bush tax cuts should never have been enacted.

 

[ledhead]

So you are arguing that we are on the near side of the curve (on the positive tangent side).

That being the case, you are indirectly supporting the idea that a tax increase wouldn't have a material impact on the economy, correct?

I don't understand their philosophy about how a tax cut woudn't stimulate the economy considering 70% of our economy is consumerism. Generally, when people have more money they spend more. Woudn't it be wise to put more money in people's pockets? Then lower interest rates to encourage people to buy durable goods. History shows tax hikes discourage people from spending because they don't have any extra money to spend curtailing economic growth.

History, also shows giving big business and the private sector tax breaks creates more jobs because they take the risks. Doesn't printing more money just devalue the dollar? Doesn't too much money chasing too few of goods cause inflation? Doesn't every dollar of government spending require a dollar of taxation? I don't understand how tax breaks don't expand the economy. Bush cut taxes from 2001-2006 the economy grew every quarter. Real wages went up, and so did Real GDP...Isn't that the objective?

The economy contracted when the housing bubble bursted, and then the Gov went on a spending frenzie and the welfare state funded programs are not helping the economy. It's not the tax cuts that are hurting the economy it's the insane spending that is superseding the tax cuts. Cut taxes and stop spending then economy will grow, is that fair to say?

 

[mrplunkey]

Regardless of the economy, we are not in a position where a tax cut would increase tax revenues. A hike at this time might not be wise, but eventually it's gonna have to be done.

A tax hike is never popular, and probably is never good for the economy in the short term. The Bush tax cuts should never have been enacted.

The curve you posted earlier had a single maximum and no inflection point.

Yet you argue a tax increase "might not be wise" but that a tax cut won't help?

And let's get one other thing straight. You aren't for YOUR taxes going up. You're for someone ELSE's taxes going up.

Huge difference.

 

[75th]

History, also shows giving big business and the private sector tax breaks creates more jobs

Shit, we must be right smack dab in the middle of the biggest economic boom in history, then. After all, they've been paying less effective rates over the last few years than at pretty much any point throughout history.

Bush cut taxes from 2001-2006 the economy grew every quarter.

There's so much wrong with that statement I dont even know where to begin.

It's not the tax cuts that are hurting the economy it's the insane spending that is superseding the tax cuts. Cut taxes and stop spending then economy will grow, is that fair to say?

No.

 

[ledhead]

Shit, we must be right smack dab in the middle of the biggest economic boom in history, then. After all, they've been paying less effective rates over the last few years than at pretty much any point throughout history.


There's so much wrong with that statement I dont even know where to begin.



No.

I have to go to work, so no time to engage in a debate. Post up what your reasoning and thinking is and later tonight I will reply to your post.

 

[Mr. dB]

I don't understand their philosophy about how a tax cut woudn't stimulate the economy considering 70% of our economy is consumerism.

I didn't say anything about the economy, I said a tax cut would not increase tax revenues.

 

[ceo]

when did 75th become such a liberal dem?

 

[ceo]

must have happened over sushi.

 

[75th]

Probably. I still consider myself relatively conservative...but facts are facts.