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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (353472)	10/3/2007 3:23:00 PM
From: TimF	Read Replies (1) \| Respond to of 1578021

The high was an inflated high. A mini-bubble. Then you had 9/11, Katrina etc. The tax cuts didn't fully take effect into 2004 (final bill past in 2003 for 2004 taxes), and supply side benefits for economic growth are not sudden. Economic stimulus from running a deficit is a short run effect, easier to notice, but it has more downsides, and doesn't last. It isn't the benefit I'm looking for from tax cuts. I want the increased long term economic growth from simpler lower taxes. Unfortunately, if you don't start out at very high rates, and also if you cut without simplifying (as Bush did) the effect is smaller, and made smaller yet by the government having to borrow money. It isn't the type of dramatic effect that you can point to and get massive political support for the next election. Its something that needs time to be really noticeable, and typically it won't get that time.