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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (71779)	9/10/2009 1:41:35 PM
From: TimF	1 Recommendation Read Replies (1) \| Respond to of 224724

The primary reason for the expansion of the deficits under Bush was the spending not the tax cuts, now Obama's heading further in the same direction on spending. If he raises taxes that will probably (unless he does it soon and we get a double dip on the recession) be good for deficit reduction in the short run, but its bad for the economy in the longer run. Some Republicans or libertarians might overstate the Laffer curve argument. Many, perhaps most tax cuts do indeed reduce revenue, and many tax increases, increase revenue, but in the very long run (or from very high rates) tax cuts will tend to increase revenue. More importantly while they are very serious concerns they are far from the only one. Tax increases are harmful to the larger economy and to personal freedom which are more important issues, except in extreme cases, like when where facing a WWII like war, or an extreme fiscal crisis (and in the fiscal crisis its probably better to rely mostly on spending reduction in most cases).