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

To: combjelly who wrote (513190)	9/15/2009 3:47:59 PM
From: i-node	Read Replies (2) \| Respond to of 1577191

But it takes a complete idiot to claim that a tax cut without a counter-balancing cut in the budget can result in anything but a deficit. I'm astonished that this subject is over your head. I don't know how many ways to say it. Here's the CBO take: house.gov Read this: As Figure 3 shows, real revenue grew much faster in the Reagan recovery than in the Bush/Clinton recovery. Under Reagan, federal revenue, in inflation-adjusted dollars, grew at an average annual rate of 4.8 percent, compared to 3.2 percent growth under Bush/Clinton.[5] After six years of economic expansion, real revenues under Reagan (with tax cuts) grew a cumulative 32.6 percent. Even with two tax increases, Bush/Clinton revenues are projected to increase just over 20 percent in six years, a feat Reagan accomplished two years quicker. You get that? CBO says this. Go argue with THEM you dolt.

To: combjelly who wrote (513190)	9/15/2009 3:52:01 PM
From: Taro	1 Recommendation Read Replies (1) \| Respond to of 1577191

But it takes a complete idiot to claim that a tax cut without a counter-balancing cut in the budget can result in anything but a deficit. May I correct your here: ...it takes a complete idiot to claim that a tax cut without a counter-balancing cut in the budget can result in anything but a SHORT TERM deficit. Taro

To: combjelly who wrote (513190)	9/15/2009 3:58:12 PM
From: Road Walker	Read Replies (1) \| Respond to of 1577191

Again, take this up with Ben Bernanke. Remind him he's a Republican.

To: combjelly who wrote (513190)	9/15/2009 4:12:58 PM
From: i-node	Read Replies (2) \| Respond to of 1577191

Again, take this up with Ben Bernanke. His credentials in economics far exceed yours. Of course they do; and while he isn't a hardline supply sider, he is even-handed. I have no issue with Bernanke, but the truth is economics on his level is a different thing than talking about the next tax cut. The reality is that when top marginal rates are high -- as they are now, and you cut them, you're going to get a surge in economic activity. When Bush cut the dividend tax, for example, you had companies like Microsoft who had never paid a single dividend, paying out billions -- the result of which is increased investment. When cap gain rates are cut you get a surge in venture capital which leads to the economic growth of the late 90s. SUPPLY SIDE WORKS. Consistently. And you argue about it from now on, but this isn't all conincidence.