Tax Cuts Ruining America?

[BushRocks]

Alright, I committed the awful deadly sin of watching the McClaughlin Group this morning. Pat Buchanan, a hardcore libertarian, Eleanor Clift, a bitchy Democrat, both said that Alan Greenspan's motion to greenlight GWB's tax-cuts is going to ruin the American economy. Eleanor really was pissed about the tax cut package, and Pat Buchanan said "Alan Greenspan is handing of the baton to Ben Bernanke, and that baton is a stick of dynamite."

I'm loving the tax cut package W is proposing, but Pat and Eleanor are not. What do you guys think?

[rightwingxtremist]

Bush has supposedly been working to ruin the economy for years now - the question is when will we start taking the critics' comments with a grain of salt. 4.7% unenmployment is pretty good if you ask me - try accomplishing that in france!

Really the last piece of the puzzle is to get the spending under control; time to clean house!

- Nate

[BushRocks]

I totally agree RWE, we have to control spending.

[Argonath]

Mabye this should be in the Economy section.

Anyway, I don't know enough about the economy to really know how America's economics work. But, I do know enough to know how a tax cut will stimulate the economy. People have more money, they spend that, the money spent goes to the government (I hope that's how it works).

But, then again, we could have an orgy of public works projects. Who doesn't like orgies!?

[BushRocks]

Well Ronald Reagan was responsible for the growth of the 1990's. Thanks Ronnie!

[Argonath]

What was the growth? Oh, wait, the economic growth? Oh, well, if that's the case, then it probably was. It would pan out.

Man, wouldn't it be funny if a president got voted in because he promised to ruin the economy and then ten years later it would be better than ever?

lol, I can see it now:

"If elected President, I promise to spend billions on BBQ sauce that will be given to thrid-world countries. God bless America!"

Rofl. :roflmao1:

Screw the major political parties, vote for me!

[Oi_Ve]

Tax cuts = good for economy

Deficit = bad for economy

Tax cuts to promote spending to increase tax revenue from spending to lower deficit = good.

Promptly turning around and spending disporportionitly large sums of money on mostly unConstitutional programs = insane

[BushRocks]

Oi, Reagan had a HUGE deficit too, but it all comes back to the gov't and balances a budget. Economic policy is long term, it just doesnt change in the blink of an eye or when a new administration steps in. But Reagan will probably never get credit for his expansion...his tax cuts balanced his huge deficit in the long run ...

[Oi_Ve]

Oi, Reagan had a HUGE deficit too, but it all comes back to the gov't and balances a budget. Economic policy is long term, it just doesnt change in the blink of an eye or when a new administration steps in. But Reagan will probably never get credit for his expansion...his tax cuts balanced his huge deficit in the long run ...

Responsible spending is the key, BushRocks.

It doesn't matter how much money the government is getting in if they don't spend it in a responsible manner.

When Bush proposes tax cuts, that's not neccessarily a bad thing.

But turning around and proposing that we increase the size of a Medicare plan that is quickly becoming too big for us to handle and already leeching huge chunks of our budget as is, you aren't helping anything!

The rate of Medicare cost growth FAR exceeds the rate of increase in tax revenue.

Reagan's tax cuts helped, yes, but so did a Tech Bubble and a skirmish in Iraq

But here's what I don't get: trickle down economics is great and all, but not one of you is advocating the abolition of the income tax, the most blatantly uncapitolistic institution to ever be spawned, and you don't seem at all concerned that Bush isn't advocating it...

[Wadi66]

But here's what I don't get: trickle down economics is great and all, but not one of you is advocating the abolition of the income tax, the most blatantly uncapitolistic institution to ever be spawned, and you don't seem at all concerned that Bush isn't advocating it...Oi I think the reason no one advocates the abolition of the income tax is because they think that's where the Fed's get the money to operate the govt with. They just don't know of any other way.

[BushRocks]

Where does the government get the majority of the revenue>?

[FKLBRLS]

I have known for several years now that tax cuts help the economy. I have also known for a while now that the economy is going well. But I have a few questions. First, can I get proof, like a graph direct from the govt or something, that proves without a doubt that the economy is good? Second, what about the US Dollar? Is it weak or strong? Third, how can I get the word out that the economy is doing good?

[Wadi66]

Read the link to gain a better understanding.
http://www.house.gov/paul/tst/tst2006/tst020606.htm

Oh and by the way, for those who didn't already know, the Federal Reserve is a PRIVATE Corporation. Not part of the Federal Government.

[Oi_Ve]

Here's some fun data on the corporate income tax alone...let me remind you that this is just the economic issues it causes, it doesn't mention the concept of withholding and the issues that raises...

http://www.cato.org/pubs/pas/pa484.pdf

Also, I trust most of you good chaps here have jobs. If you don't, get one. I don't care how old you are, cause when I was your age I was stacking bricks and building whole houses...in the snow...with my bare hands...*insert more "good ol' days rhetoric here*.

Now then, I want to know, how do you make?
Not how much you take home.
How much do you MAKE?

That's BEFORE the government taxes you for income, Social Security, and Medicare.

You might be surprised just how much the government rips you out of your money.

Now consider what companies have to pay in income tax alone. Quite a bit, no?
There's that trickle down economics!
Guess who pays ALL of THAT tax?
You!

You shouldn't be talking about how good the economy IS, you should be talking about the economy SHOULD BE.

[Argonath]

Interesting, Oi_Ve. Hmm. . . .

The government should take Lewis Black's advice and give us all coupons for anything we need.

[Dagummit]

Argonath...that system of gov't that you are referring to is called communism.

[IHL]

Argonath, hopefully you are not being serious. If the government were to give coupons for all the stuff we need, where would the government get the money for the coupons from? Would we all have to provide our services to the government for free? You think that would work? Of course not. If that was the answer then communism and socialism would work every time it's been tried. Instead, it has failed every time it's tried.

Tax cuts are good for the economy. The liberals hate tax cuts. The fact that liberals think it is a bad idea should be enough of a clue that it is good for the country. The liberals are wrong on almost every position they have. I'm serious too. They are.

If raising taxes were the answer to economic prosperity, then what is the problem? All we'd have to do is raise taxes so high that the government would have all the money it wanted. We could literally tax our way to prosperity. Easy right? The problem is it doesn't work. Believe it or not there was a time when the tax rate to the highest wage earners in this country was well over 70%. The liberals loved it. Jimmy Carter (probably the worst president in recent history) thought it was a great thing. The problem is, who wants to work for 30% of their wage? The answer of course, is no one. Higher taxes remove incentive. No incentive means no creativity. Who wants to risk everything they own to start a business that if successful will eventually have to give 70% of their profits to the government? Again, no one in their right mind. Would you put up your home as collateral on a business that may only get 30% of it's profits?

Lower taxes work. It increases incentive, it increases investment in business which creates new jobs which ultimately increases revenue to the government. The problem, as Oi points out, is when the government takes these new revenues and spends them. Liberals love higher taxes because they will argue it only hits the rich who can afford it. Well, don't hate the rich. Have you ever been hired by a poor man?

[Argonath]

Sorry, I didn't read this until today. . .

Anyway, IHL, I was just kiddin'. I mean, coupons? What the hell kind of government bases it's foundation on coupons!? :icon_lol: