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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (587911)9/28/2010 5:37:38 PM
From: TimF1 Recommendation  Read Replies (1) of 1576619
 
With deficits and debt as high as they are now, a reasonable (if questionable) argument can be made that a tax increase would be economically beneficial if all else is to remain exactly equal.

But the "everything else remains the same" policy is foolish, since its the spending that's actually causing the debt and thus the harm. The taxes directly cause additional harm, but they may alleviate some of the harm caused by the debt. The way to avoid both types of harms is just to control spending.

Borrowing crowds out private investment. Taxes on investment (including personal taxes on non-corporate business owners), also crowd out investment. The point to take away from this than is government spending crowds out private investment, and is harmful to the economy.

And note that the average for the range of alleged harm for "full extension permanent" is lower than the alleged harm from "partial extension permanent". The CBO is thus saying that the raising taxes on just "the rich" would be more harmful than raising taxes on everyone. Hardly an idea I think you want to promote.

Also the complaints about the debt ring hollow when presented by someone who's supported spending increase after spending increase like you.
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