What economic school or schools are Barack Obama, Harry Reid and Nancy Pelosi following when they demand tax increases in a bad economy?
Your appeal to orthodoxy inclines me to dismiss the point altogether, but I feel so very, very clever in my response: here is a libertarian making a very persuasive argument for the position that tax increases on the rich are not correlated with improvements to the economy, stop reading here, watch it, enjoy it, digest it.
[ame=http://www.youtube.com/watch?v=w7FnUowZKfg]Should We Tax the Rich More? - YouTube[/ame]
Now, does that also mean the converse, that raising taxes on the rich wont hurt the economy? Yes. Guy is simply wrong at the end there, just because there are more than the two variables he presents in the system doesnt mean that basic mathematics stops working. I mean if the rich were paying the same amount of money whether the tax rate were 28% or 94%, then we wouldnt hear a peep about how "unfair" it was. You cant hold the position that tax hikes on the rich will simultaneously punish the rich and not raise revenue. It will, they owe it and we need it; thats what being fiscally responsible is all about.
the whole tax the rich at 94% thing?...it's not going to fix the deficit. You could tax them at 100% and you STILL wouldn't fix the deficit because the problem isn't that we're not taking in enough revenue but that we are spending WAY too much.
It doesnt need to fix the whole thing, just apply the teensiest smidgeon of household finances to govt finances; if you cant pay all of your bills, you damn well pay what you can.
no they arnt. 15% sounds alot like 18% to your squishy meat brain, but that is alot less revenue.
Historical Source of Revenue as Share of GDP
I thought republicans were running on the platform that they wanted to close those loopholes, of course when its time for the rubber to meet the road, house republicans are the only thing standing in the way of this reform. You gonna cry about it all day or do something about the thing which you say is bad? I will rub your nose in it all day, your politicians are not competent enough to produce reform.
I could say to you- Unless you're going to change the laws and FORCE people to invest their capital- they WONT. Also, you clearly arnt familiar with history.
Executive Order 6102 - Wikipedia, the free encyclopedia
"laffer" the last 30 years have concisely shown that his speculation is bunk. it never trickled down, we have been running deficit upon deficit, its time to return to fiscal responsibility.
And what do you use for the basis of your expectation that raising taxes to 94% will work? The tax rate was that following WWII? Well, I hate to burst your progressive thought bubble but the world was COMPLETELY different at the close of WWII than it is now. We were the only major industrial power that was left relatively unscathed by war. Essentially, we were the only game in town. Now contrast THAT with the world we live in today! Today we compete with places like China and India...countries that don't have capital gains taxes. If we were to raise our tax rate to what YOU think is advisable there would literally be a stampede of capital out of the US. But you're so blinded by your progressive ideology that you can't see that...can you?
Yes, we have to compete, we dont have the resources to support dingleberries with delusions of grandeur in their vain attempt to live like royalty while the countries infrastructure crumbles around us. Not spending what needs to be spent is a man made disaster whether we are talking about I35W or benghazi.
And your analogy of someone ringing items on a cash register is as flawed at the rest of your so called "thinking". We aren't letting the rich "steal" a pack of cigarettes that they don't own...what you're espousing is putting a gun to their heads and stealing the money that they legally earned because you think that you are "entitled" to it more than they are, rather than fix a government that is so bloated and inefficient that it's bleeding us out.
They want the services we provide? They are obligated to fund them by paying their taxes.