DeLay declares 'victory' in war on budget fat

[dilloduck]

Would you please answer my questions? I want to know your take on the two factual scenarios I gave you.

The tax cut was temporary. So you think we should cut other programs to pay for the war in Iraq and the aftermath of Katrina?

It was temporary but REAL. Our government made more money because of them. What is the wisdom in eliminating a successful economic strategy?
YES---I've already made it very clear that wasteful federal spending should be cut---drastically in some cases.

your scenarios are not "factual"---maybe thats part of the problem here--you can't tell the difference.

 

[ProudDem]

It was temporary but REAL. Our government made more money because of them. What is the wisdom in eliminating a successful economic strategy?
YES---I've already made it very clear that wasteful federal spending should be cut---drastically in some cases.

your scenarios are not "factual"---maybe thats part of the problem here--you can't tell the difference.

Yeah, our economy is doing great now, isn't it? And maybe that is my problem.

 

[The ClayTaurus]

If tax revenue is higher now than when it the tax rate was higher (but the actual income was lower) it doesn't make much mathematical sense to want to revert to it. Taxation is a very dynamic concept... you can't just increase or decrease the rate a certain amount and predict the income difference because of it.

There is A LOT of bull shit projects that suck up government money. I can tell you that from experience.

The downside is, a lot of government contractors would probably go out of business if all the pork was cut out, and a lot of people would be looking for jobs.

Just the same as increasing taxes isn't a simple answer, cutting out pork projects isn't a simple answer either.

 

[ScreamingEagle]

If tax revenue is higher now than when it the tax rate was higher (but the actual income was lower) it doesn't make much mathematical sense to want to revert to it. Taxation is a very dynamic concept... you can't just increase or decrease the rate a certain amount and predict the income difference because of it.

There is A LOT of bull shit projects that suck up government money. I can tell you that from experience.

The downside is, a lot of government contractors would probably go out of business if all the pork was cut out, and a lot of people would be looking for jobs.

Just the same as increasing taxes isn't a simple answer, cutting out pork projects isn't a simple answer either.

So true. Right now I believe our government is just attempting to prop things up with tax cuts and more spending which are giving the economy a few last gasps before the inevitable happens. We have been running an economy based on deficit spending since the seventies when the last ties to the gold standard were totally abandoned. The first recent bubble to pop was Nasdaq. Then there was a run on real estate and continued credit creation which caused huge consumer spending and more deficits which have become pretty much unsustainable. The roller coaster ride is about to become even more exciting. I doubt that our politicians can do anything about it.

 

[The ClayTaurus]

So true. Right now I believe our government is just attempting to prop things up with tax cuts and more spending which are giving the economy a few last gasps before the inevitable happens. We have been running an economy based on deficit spending since the seventies when the last ties to the gold standard were totally abandoned. The first recent bubble to pop was Nasdaq. Then there was a run on real estate and continued credit creation which caused huge consumer spending and more deficits which have become pretty much unsustainable. The roller coaster ride is about to become even more exciting. I doubt that our politicians can do anything about it.

That's more or less how i feel... the deficit is so out of control that there is no reasonable way you can think it can be tamed without the country falling into a recession. Instead of taking the air out of the balloon, it seems like the strategy now is to just try and make the walls of the baloon as strong as possible, so the balloon can keep expanding and hopefully not pop untill after whoever's in charge is dead and gone. Someone down the line is really going to take it in the ass, and hard.

 

[rtwngAvngr]

Yeah, our economy is doing great now, isn't it? And maybe that is my problem.

It's actually pretty good, despite dem negativism.