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

To: tejek who wrote (578380)	7/28/2010 2:37:11 PM
From: TimF	Read Replies (1) \| Respond to of 1572942

Meanwhile, the Republican Party defends massive tax breaks for the wealthy No, they oppose massive increases in taxes for the wealthy. while blocking aid to the unemployed While blocking such spending if they money isn't found by some other means than additional borrowing (spending unused TARP funds rather then leaving them as a slush fund for whatever the FED wants to spend them on, cutting spending somewhere else etc.) So Jay's portrayal of the situation is distorted at best. But even assuming it was right, its not like the policy combination doesn't make sense. Higher marginal tax rates discourage work and investment. Extended long term unemployment benefits (in the neighborhood of 99 weeks) also discourages work. Having unemployment benefits, at least in severe downturns, makes some sense as a stimulus effort. But extending them for long periods of time, decreases employment, production, and wealth creation even before considering the costs of paying for them. What you tax you get less of, so higher tax rates on income reduces efforts to generate income (or at least taxable income, efforts to shelter income from taxes increase, but while that makes sense for the individual, from the perspective of the wider economy and society its unproductive). If you subsidize unemployment you also get more of it.

To: tejek who wrote (578380)	7/28/2010 3:14:51 PM
From: bentway	Read Replies (1) \| Respond to of 1572942

Wow! Have we been getting our asses kicked in the class war, or what? THANKS, (R) economic and taxation ideas! WHO owns the (R)'s? Follow the MONEY. If you aren't stacking the Benjamins, you're a "useful idiot"!