Tax cuts boost revenue

Discussion in 'Economy' started by AHILLS205, Aug 2, 2010.

  1. AHILLS205
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    AHILLS205 Member

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    "Tax reduction thus sets off a process that can bring gains for everyone, gains won by marshalling resources that would otherwise stand idle—workers without jobs and farm and factory capacity without markets. Yet many taxpayers seemed prepared to deny the nation the fruits of tax reduction because they question the financial soundness of reducing taxes when the federal budget is already in deficit. Let me make clear why, in today's economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarged the federal deficit—why reducing taxes is the best way open to us to increase revenues....................."

    A QUITE OBVIOUS DECLARATION
     
  2. waltky
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    waltky Wise ol' monkey Supporting Member

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    No wonder we goin' broke...
    :eusa_eh:
    Sorry, GOP: Tax revenue needs to go up
    March 26, 2011 -- The United States has a spending problem, not a revenue problem. That is the persistent Republican mantra whenever the question of how to reduce deficits comes up. The party line: Cut spending, and under no circumstances raise taxes.
     
  3. JBeukema
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    JBeukema BANNED

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    Also, smashing your neighbor's window boots the economy
     
  4. Old Rocks
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    Old Rocks Diamond Member

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    Clinton increased taxes, and reduced some spending. A booming economy and the defecit was much reduced.

    Bush decreased taxes and hid the cost of two wars off of the books. An economy that created jobs so slowly that it did not even keep up with the number of high school and college graduates. And nearly created the Second Great Republican Depression. As well as huge deficits.

    Facts, not bone headed declarations.
     
  5. Norman
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    Norman Gold Member

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    tax cuts won't help a thing if the government still spends.
     
  6. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Clinton CUT capital gains rates fro 28% to 20% - that is what spurred economic growth and the resulting increase in tax receipts.
     
  7. Midnight Marauder
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    Midnight Marauder BANNED

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    Put 20 million unemployed or "funemployed" people back to work, all paying income taxes, and your revenue problem disappears. This of course does NOT automatically mean you'll get out of the deficit hole. Only laws which require a balanced budget can do that, no matter the revenue.
     
  8. Wry Catcher
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    Wry Catcher Platinum Member

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    Taxes were cut by GWB in 2001; linked from the Brookings Instituti8ion is an evaluation and projection of it's effects (for Today) written in 2002.

    The Bush Tax Cut: One Year Later - Brookings Institution
     
  9. Midnight Marauder
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    Midnight Marauder BANNED

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    And yet if you look at the actuals at cbo.gov, you will see record revenue every year after 2002 - not just as total dollar amounts, but also as a percentage of the GDP. In fact, by every measure.

    The unemployment rate was hovering around 5.5%.
     
  10. Wry Catcher
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    Wry Catcher Platinum Member

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    And yet you didn't read the article, which would take more than two minutes even by a speed reader of exceptional ability.
     

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