Discussion in 'Economy' started by rayboyusmc, Mar 4, 2009.
The Idolatry of Ideology-Why Tax Cuts Hurt the Economy by Russ Beaton
yeah I suppose what JFK did hurt the economy, just like what happened when Reagan cut income, and captial tax. I won't mention Bush because you get too agitated about that. Personally, I feel that with tax cuts puts more money in my pocket where I can spend the money on what I need, plus help stimulate the economy by me putting it back in. On the otherside of this coin,the government takes it out of my pocket (which leaves me not spending on what I need) to them spending on earmarks that has no benefit to me, and maay just benefit a small minority...which by the way will not get us out of a recession.
Ray deny it as you will....just sayin...
So tax increases stimulate the economy??
Tax cuts hurt the economy only if, over the long-run, spending is not cut. Otherwise, tax cuts help the economy.
But supply-siders must realize that cutting taxes without cutting spending is merely Keynsianism in reverse.
JFK cut taxes on the middle class, the people who spend the money, that's why his tax cuts worked. Cutting taxes on the wealthy only helps the wealthy get richer, it doesn't help the economy because they don't spend the money, they invest it.
Your going to have to trust me on this Sheila...when the rich invest their money, it does help the economy. It helps create jobs with the businesses they invest in. Job creation is where the employees make their money. If the businesses have 401K's, or IRA's the employee can invest for their retirement, and help build businesses to create more jobs. I know, I know, you didn't look at that angle. But, that's what I'm here for. I'm here to help you see the other side of the coin that the left failed to show you....Your welcome.
Nope, investing their money doesn't necessarily create jobs anymore than giving $billions to the banks helped people from being foreclosed on. It just makes the rich, richer and that doesn't help anybody but the rich.
Now, if you want to put that money into job creation, do so, CREATE jobs.....don't give tax breaks to the already obscenely wealthy.
overall, it's spending that hurts us, not the amount taxed. going from 39% to 35% for the top tier tax rate or vice versa won't have much of an effect on an economy unless spending is cut.
If their investing their money...it's helping the economy. Don't agree with me, that's your right...but don't tell me I'm wrong.
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