Bush's invisible tax increase

Discussion in 'Economy' started by Chris, Aug 14, 2008.

  1. Chris
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    Chris Gold Member

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  2. editec
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    editec Mr. Forgot-it-All

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    OUCH!

    Decreasing incomes, higher unemployment AND inflation, too?

    Of course we can all take great comfort knowing that the top income tiers are doing splendidly... despite it all. They're real soldiers shoulding the burden of keeping the consumer-driven economy buying additional Rolexes and fancy yachts.

    Those Atlases are real troopers, aren't they?

    Maybe what we should do is decrease the taxes on the superwealthy, still further, and continue to increase the national debt so that the dollar's value declines even more.

    I'm sure the neo-cons must be totally thrilled that they're finally killing the beast that was the American way of life.

    Isn't there some other nation we can go to war with so we can speed up this process?

    Surely we can piss away a couple trillion dollars more on something other than fixing our nation, can't we?
     
    Last edited: Aug 14, 2008
  3. Zoomie1980
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    Zoomie1980 Senior Member

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    What gets me is the Fed and policy makers will now use June inflation numbers, a month in which oil and gasoline EXPLODED in price to make policy on, when anyone with a brain larger than a walnut can see that gasoline is down .50 or more in just three weeks and grain prices down as well, and when August number come out some time in October, we may have JOLTED from modest inflation into a DEFLATIONARY period just like that!! Energy prices control EVERYTHING. When they go up EVERYTHING goes up, when the come down, most things level out or even DECLINE. Add to that continuing falling real estate values....
     
  4. Zoomie1980
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    Zoomie1980 Senior Member

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    Has nothing to do with taxes. Tax revenues are virtually 100% tied to the economy, not to tax rates. Changing tax rates a few points up or down has virtually NO long term impact on revenues.

    What we MUST do is stop spending. Raise SS age to 70 or 75. Do something about rampant FRAUD in Medicade and Medicare. Do something serious about the completely BROKEN Military procurement system and contract award system.
     
  5. BruceWayne
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    BruceWayne Rookie

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    That's not really true.
    Claim That Tax Cuts “Pay For Themselves” Is Too Good To Be True: Data Show No “Free Lunch” Here, Revised 7/27/06

     
  6. editec
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    editec Mr. Forgot-it-All

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  7. Article 15
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    Article 15 Dr. House slayer

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    How about we do that ... add a cut off date for eligibilty ... then cease benefits altogether?

    I'd be willing to pay into the system for the next 10-20 years ... not get anything in return ... all in exchange for the abolishion of SS ... for the greater good ... you know ... sacrificing to correct the errs of generations before mine.
     
  8. Chris
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    Chris Gold Member

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    Sorry, I did not make myself clear. When you cut taxes and increase spending that huge deficit creates inflation which is an invisible tax increase.
     
  9. Zoomie1980
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    Zoomie1980 Senior Member

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  10. Zoomie1980
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    Zoomie1980 Senior Member

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    Tax revenues reflect the economy. Nothing else matters.

    Want to really cut deficits, STOP SPENDING.
     

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