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Politics : Ask Michael Burke
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To: John Koligman who wrote (115760)9/11/2008 8:59:57 PM
From: Freedom Fighter1 Recommendation  Read Replies (1) of 132070
 
John,

I think when you cut tax rates for everyone you do not transfer wealth. You give it back to the rightful owners. It's just a simple fact that "X" percent of a large number is a lot more money than "X" percent of a small one. So if you give the same % tax break to everyone, the rich get more back because they pay way more. But it was theirs to start!

However, I think at times it may not make sense to cut taxes because government is larger than the existing revenue stream. This is one of those times.

I can't prove it, but IMHO supply side economics is "half voodoo and half truth".

I don't think $1 of tax cuts produces $1 of future tax revenue, but I think $1 in the hands of business and individuals produces greater economic growth than $1 in the hands of government. So if you cut tax rates, you don't get as big of a deficit as some think, but you get a deficit.
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