Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (266470)	12/29/2005 4:23:05 PM
From: Taro	Read Replies (1) of 1575234

The bigger difference is that "supply side economics" assumes that a lower tax rate, even if it reduces current tax revenue, can create conditions for higher growth and thus increase future tax revenue That really doesn't make a difference with the key issue being the length of the period you are monitoring. Obviously, the very moment you cut the income tax from say 45% to 35% you lose tax revenues on the spot. Do the same calculation over a 4 year period and things start looking quite different. That is why almost bankrupt economies like the French and the German "cannot afford" to get their over taxation problems corrected but must take to (extremely) short term measures to finance their follies through the next budget year at least. The hope remaining that the world economy will improve to the level, where they get a better opportunity to cure the basic disease causing their long term problems. Reagan's radical cut caused massive debt initially. The positive effects only showed up big 5-7 years later and lasted for long, actually up to our days. A brave man who couldn't care less for nursing his short term legacy. A man for the nation. Taro

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