By about 2% of GDP per year.
Bush Tax Cuts: Economic Growth vs. Fiscal Sustainability | The Big Picture
Bush Tax Cuts: Economic Growth vs. Fiscal Sustainability | The Big Picture
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You mean "Bush Tax Cuts"?
The answer is still for the gubamint to reduce spending. The average Joe gets a smaller paycheck he reduces spending, gubamint can do the same. I'm tired of hearing bullshit excuses from our gubamint about "we have to PAY for tax cuts!"
Bullshit! You just have to spend less.
This all assumes a static view of the economy which is false. Does anyone know of a projection made by the CBO that came true?
This all assumes a static view of the economy which is false. Does anyone know of a projection made by the CBO that came true?
Very true, with the economy continuing to sink it will be worse than predictions.
This all assumes a static view of the economy which is false. Does anyone know of a projection made by the CBO that came true?
Very true, with the economy continuing to sink it will be worse than predictions.
A disincentive to invest will cause the economy to sink further, IMO.
The economy decreased, government needs to decrease proportionately.
It's pretty simple math. All other things being equal, if you increase your revenue you decrease the deficit. One can argue that increase taxation on the wealthy will stifle new investments and slow down the recovery. Well, that's a theory, but I don't buy it, at least not in the current economy environment. Money will always be invested somewhere. Large corporations in the US are sitting on tons of cash invested in low yielding treasury bills and bonds. They are not expanding because they don't see consumer demand increasing. Increasing tax rates on the wealthiest people in the country will have little effect on consumer demand or on new investments but will help reduce the deficit.This all assumes a static view of the economy which is false. Does anyone know of a projection made by the CBO that came true?
Very true, with the economy continuing to sink it will be worse than predictions.
A disincentive to invest will cause the economy to sink further, IMO.
The economy decreased, government needs to decrease proportionately.
No, they won't.Bush TAX Cut Extensions Will Increase Deficit
You mean "Bush Tax Cuts"?
The answer is still for the gubamint to reduce spending. The average Joe gets a smaller paycheck he reduces spending, gubamint can do the same. I'm tired of hearing bullshit excuses from our gubamint about "we have to PAY for tax cuts!"
Bullshit! You just have to spend less.
Does that mean you would oppose any deficit-financed extensions of (any of) the tax cuts? That is, any bill to extend the tax cuts that doesn't include offsetting spending cuts?
It's pretty simple math. All other things being equal, if you increase your revenue you decrease the deficit. One can argue that increase taxation on the wealthy will stifle new investments and slow down the recovery. Well, that's a theory, but I don't buy it, at least not in the current economy environment. Money will always be invested somewhere. Large corporations in the US are sitting on tons of cash invested in low yielding treasury bills and bonds. They are not expanding because they don't see consumer demand increasing. Increasing tax rates on the wealthiest people in the country will have little effect on consumer demand or on new investments but will help reduce the deficit.Very true, with the economy continuing to sink it will be worse than predictions.
A disincentive to invest will cause the economy to sink further, IMO.
The economy decreased, government needs to decrease proportionately.
Very true, with the economy continuing to sink it will be worse than predictions.
A disincentive to invest will cause the economy to sink further, IMO.
The economy decreased, government needs to decrease proportionately.
and so is business investment decreasing in turn.
But new investment will do no more to revive this economy than will deficit spending and porkulus.
Like it or not there will be no recovery until we bottom out. Neither Obama or the repukes can do anything about that.
I remember a half conscious sap that was loitering in the Oafel Office many years ago and what that genius said about that !
" I'm not worried about the deficit. It's big enough to take care of itself"
I suppose that was the advice of his astrologer.