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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Elroy Jetson who wrote (13839)9/22/2003 11:02:59 PM
From: gpowellRead Replies (2) of 306849
 
I have a degree in economics so I understood long ago that this voodoo you believe in was just a bunch of nonsense.

I’m sorry to say that I don’t believe you have a degree in anything. You’re a mortgage broker no? In any case, you have demonstrated zero economic training.

To what voodoo are you referring? You must have me confused with someone else.

I’ve asserted that tax cuts in the absence of spending cuts have zero economic effect. This is a point that can be attacked with sound economic arguments, but so far, you haven’t attempted to do that. In case you’re considering it, what you’ll find in the literature is mostly hack attempts at rebuttal.

I’m sure Grace Z. could provide a quite unique and thought provoking rebuttal if she chose to.

Political hacks claim that cutting taxes will magically increase economic activity and thus supply the missing taxes.

All economists accept the well-known Laffer curve. In fact, it was such an obvious observation that it received very little attention.

Tax cuts do not increase wealth unless accompanied by spending cuts.

You won’t get an argument from me. In fact, I told you this 6 months ago and you chose to go off on some weird tangent on reagonmics. Did you forget – you asserted that a tax rate of 99% would maximize government revenue. That view is not consistent with a degree in economics, btw.

None of your voodoo incantations will ever change this - no matter how many decades you wait in naive expectation.

Actually, Grace has a point she can argue, but in order to understand it you would need a graduate degree in economics, mathematics, or physics.
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