The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: yard_man who wrote (260147)	7/12/2010 2:57:04 PM
From: bentway	Read Replies (3) of 306849

"blah, blah..show me ONE instance in history where a government has balanced its books by simply raising taxes to meet expenditures...blah blah.." Sure pal. OUR government! We borrowed an ENORMOUS amount of money to pay for WWII. We patriotically raised the top marginal rate to 91%, along with all other rates. By the early sixties, we had PAID for WWII, and Kennedy SLASHED the top rate from 91% to 70%! That tax cut raised revenue and predated Laffer! Back then, they just thought it was common sense! It took you wingnuts to elevate it to a religion. When the tax rate is so HIGH, it will reduce revenues. When the tax rate is too LOW, it will REDUCE revenues. Look at the result of the Reagan and Bush tax cuts: en.wikipedia.org The problem with you tax haters is, you claim EVERY tax cut will increase revenues. Even Laffer never said THAT. The trick is to find the sweet spot that is just right to give you maximum revenue, same as in retail pricing. Don't get me wrong, I want to reduce spending too. To get out of our current pickle, we're going to have to do BOTH.

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