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Politics : View from the Center and Left

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To: Sam who wrote (61114)	4/23/2008 5:28:18 PM
From: Bearcatbob	Read Replies (1) of 542455

Sam - my post was in response to a simplistic condemnation of Laffer. Of course it is a complex issue. However, in the leftist world Laffer is one of those knee jerk response issues that brings the automatic negative. What is coming to the US is a raise taxes and all will be well mentality. Well, it is not as simple as that. Look at the economy as a horse in a race. If you want to handicap the race you add weight to the horse to slow it down. If you add taxes - it is a burden on the economy that will slow it down. However, if at the same time you reduce some other burdens the overall effect might not be negative and increase revenues could flow. As an example, when Clinton raised taxes he also brought NAFTA and GATT - some new burdens and some incentives. The left has a built in presumption of wealth in that wealth is something to be harvested with the harvesting not being a threat to the existence of the wealth.

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