Republican Supply-Siders - Keynsians in Drag

Discussion in 'Economy' started by Toro, Aug 1, 2010.

  1. Toro
    Offline

    Toro Diamond Member

    Joined:
    Sep 29, 2005
    Messages:
    50,786
    Thanks Received:
    11,059
    Trophy Points:
    2,030
    Location:
    The Big Bend via Riderville
    Ratings:
    +25,123
    The political genius of supply-side economics | Martin Wolf's Exchange | FT.com
     
  2. elvis
    Offline

    elvis BANNED Supporting Member

    Joined:
    Sep 15, 2008
    Messages:
    25,882
    Thanks Received:
    4,303
    Trophy Points:
    0
    Ratings:
    +4,303
    I thought John and Yoko were the Keynesians in drag. or was that gurus? :lol:
     
  3. asterism
    Offline

    asterism Congress != Progress

    Joined:
    Jul 29, 2010
    Messages:
    8,592
    Thanks Received:
    906
    Trophy Points:
    190
    Location:
    Central Florida
    Ratings:
    +1,073
    All this talk about taxation and revenue into the government, little talk about spending and revenue from the government.

    Yup, the Keynesians lost this one. Krugman was wrong.
     
  4. elvis
    Offline

    elvis BANNED Supporting Member

    Joined:
    Sep 15, 2008
    Messages:
    25,882
    Thanks Received:
    4,303
    Trophy Points:
    0
    Ratings:
    +4,303
    Krugman is far worse than Keynes. He's like Keynes on steroids.
     
  5. asterism
    Offline

    asterism Congress != Progress

    Joined:
    Jul 29, 2010
    Messages:
    8,592
    Thanks Received:
    906
    Trophy Points:
    190
    Location:
    Central Florida
    Ratings:
    +1,073
    True, but that's how I think Keynes wanted things. He wanted his ideals to expand and evolve into this bastard set of "intellect" we now know. He was a huckster - a very smart huckster.
     
  6. The Rabbi
    Offline

    The Rabbi Diamond Member

    Joined:
    Sep 16, 2009
    Messages:
    67,620
    Thanks Received:
    7,821
    Trophy Points:
    1,840
    Location:
    Nashville
    Ratings:
    +18,215
    Actually history supports the Supply Side argument. The deficit under Reagan fell to its lowest point as a percentage of GDP since WW2. Reagan could barely rein in spending from the Democratic Congress and the deficit proceeded to explode.
    So other than being wrong historically and theoretically the article is correct.
     
  7. topspin
    Offline

    topspin BANNED

    Joined:
    Apr 29, 2010
    Messages:
    4,149
    Thanks Received:
    196
    Trophy Points:
    0
    Ratings:
    +196
    Supply side is sooo wrong Obama decided to go with tax cuts for 95% and faux promises of budget cuts. OK gotcha
     
  8. Truthmatters
    Offline

    Truthmatters BANNED

    Joined:
    May 10, 2007
    Messages:
    80,182
    Thanks Received:
    2,223
    Trophy Points:
    0
    Ratings:
    +2,233
    These people will never accept the facts.

    Their minds are made up.
     
  9. william the wie
    Offline

    william the wie Gold Member

    Joined:
    Nov 18, 2009
    Messages:
    7,325
    Thanks Received:
    677
    Trophy Points:
    175
    Ratings:
    +1,632
    this is garbage. The argument is about optimal tax levels to maximize growth, monetary stability and/or tax revenues in the shortrun vs. the longrun so there are a minimum of six different tax rate optima. So three things have to be determined:

    what needs to be optimized

    Is the goal shortrun or longrun

    What data exists on the best way to get there?
     
    Last edited: Aug 2, 2010
  10. Toro
    Offline

    Toro Diamond Member

    Joined:
    Sep 29, 2005
    Messages:
    50,786
    Thanks Received:
    11,059
    Trophy Points:
    2,030
    Location:
    The Big Bend via Riderville
    Ratings:
    +25,123
    What history is that, history on acid? Where do you get your "facts" from?

    Reagan presided over the biggest budget deficits since WWII up until that time.

    [​IMG]
     
    • Thank You! Thank You! x 1
    Last edited: Aug 2, 2010

Share This Page