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Politics : John McCain for President
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To: tonto who wrote (5853)11/9/2008 6:46:39 PM
From: RetiredNow  Read Replies (2) of 6579
 
Well, the Tax Policy Center says that Obama's tax cuts for the middle class will cost $2.7 trillion over the next 10 years. So it's not going to help our deficits. Also, I'm not one of those idiots that thinks you can cut taxes from today's level and somehow expect an increase in tax revenues. So unless the Dems find some way to cut $270B per year, we'll have increased deficits.

Now one thing I'm undecided on is what is the best course of action during another Great Depression. Do you increase taxes to close the deficit and risk deflation and a spiralling Depression? Or do you increase deficits to goose the economy and stave off deflation? If the Great Depression of the 30's is any indicator, I think deficit spending may be the way to go. But who really knows?
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