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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (525937)	11/4/2009 2:14:46 PM
From: TimF	Read Replies (2) of 1576774

The Bush tax cuts to the rich were firmly in place going into the worst and longest recession since WW II Worse since WWII is questionable. More importantly your comment is rather irrelevant. A tax cut happens when the taxes are actually cut. After that you just have tax rates in place. The tax rates where the same for years leading up to the recession, they where not the new surprise cut that the study was talking about. They wouldn't have a significant demand side stimulus effect, they where old news, not "a surprise deficit-financed tax cut" which the study found to be "the best fiscal policy to stimulate the economy". One of the other findings might be considered more important "government spending shocks crowd out both residential and non-residential investment", in other words fiscal stimulus raises GDP (because government spending is counted as GDP, if the government spends a dollar that gets counted as a dollar of GDP even if it has no stimulus effect), but reduces private investment.

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