Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: bentway who wrote (510706)	9/6/2009 11:00:00 AM
From: i-node	Read Replies (1) \| Respond to of 1579359

They accepted as blindly as they accept their religious belief, that if you give money and tax breaks to the wealthy, it will "trickle down" to the less fortunate like manna from Heaven. Reagan tried it and it went awry very quickly. He was forced, with the assistance of Majority Leader Bob Dole, to increase FICA taxes. They did it under the pretense of "saving" the Social Security System, but the real purpose was to get revenues for an ever-increasing deficit. You are so totally full of it. SS was flat broke, and only through those tax increases was it saved. Not that you would comprehend it with your single brain cell. More importantly, we know that what you call supply side worked and consistently works. The rich made money, but the standards of living of the poor in America are at an all-time high. It is basic economics. Adam Smith acknowledged that high taxes cripple an economy. Friedman acknowledged it. And everyone in between. The most consistent consistency in economics is that when you raise taxes, you kill productivity, and if you raise taxes enough you will cut revenue to the government. This is not only theoretically correct, it has been proven empirically time and again. And the idea you can spend your way out of a recession has been shown to be false time and again. And here the left is, trying it again. It doesn't work. FDR is the best example -- he managed to drag out the depression for a decade with insane economic policy. I appreciate you are ideologically challenged, but you are arguing with the facts and you don't understand the subject matter.