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re: Do republicans have egg on their faces right now in regards to taxation?
Posted on 12/24/14 at 6:17 pm to LSURussian
Posted on 12/24/14 at 6:17 pm to LSURussian
Corporate tax rates are the only ones that can slow economic growth. If you raise them too high, it can drive businesses to relocate to other countries.
Over regulation and wage laws hurt the economy way more than taxation for this same reason..it drives business out to places where costs are cheaper.
As far as taxing your average joe, tax rates won't affect GDP much at all unless they are so high that they kill incentive to work because there is no profit motivation to produce.
Over regulation and wage laws hurt the economy way more than taxation for this same reason..it drives business out to places where costs are cheaper.
As far as taxing your average joe, tax rates won't affect GDP much at all unless they are so high that they kill incentive to work because there is no profit motivation to produce.
Posted on 12/24/14 at 6:26 pm to deltaland
quote:
Over regulation and wage laws hurt the economy way more than taxation for this same reason.
Whew, good thing we don't have a president who does many of these.
Posted on 12/24/14 at 6:34 pm to RockyMtnTigerWDE
quote:
good thing we don't have a president who does many of these.
Regulation is one big reason the economic recovery took so long. That's why Gridlock in Congress is a good thing..it maintains status quo and there is less uncertainty which allows business to operate without worry of further laws and regs to tackle.
Posted on 12/24/14 at 8:11 pm to HailHailtoMichigan!
quote:
5% GDP growth is not good for your average jeaux?
Granted 5% growth is good stuff. Yes, it's been a long time coming even with the turbo thruster Fed manipulation. You have been prematurely calling the great recovery for some time.
Regulations will still kill this goose. Or worse yet, we will over stimulate, subsidize unfit consumers, build castles in the sand again. Only to see it blow up again. Socially engineered economies are fickle.
Posted on 12/24/14 at 10:00 pm to HailHailtoMichigan!
You can't be this dense. Check your want for immediate gratification at the door and understand that just bc a law is passed doesn't mean it has good or bad effects right away
Posted on 12/24/14 at 10:19 pm to mostbesttigerfanever
So, will this Summer be the Summer of recovery we've been hearing about for what...5years, or is it 6? I mean eventually there has to be a Recovery, right? Aren't we like a 40 year low in Work Participation....? That can't be right? Right?
Posted on 12/25/14 at 12:38 am to CamdenTiger
Are you guys saying that if taxes were just cut and then the economy had this nice run that Republicans wouldn't be touting the correlation as definitive proof of causation?
Posted on 12/25/14 at 1:16 am to Asgard Device
quote:
Are you guys saying that if taxes were just cut and then the economy had this nice run that Republicans wouldn't be touting the correlation as definitive proof of causation?
Are you saying there are both dumb Democrats and dumb Republicans on this board?
Posted on 12/25/14 at 7:44 am to Tiger n Miami AU83
quote:
95% of the reason I have turned from them. Romney's economic plan with massive tax cuts was so frickingstupid and pie in the sky fantasy I figured it was a hoax until I realized he was serious.
You do have the option of donating more of your money to the government if you feel it will help the economy and give the republicans a great big black eye.
This post was edited on 12/25/14 at 7:47 am
Posted on 12/25/14 at 7:56 am to HailHailtoMichigan!
You didn't lay that egg!
Posted on 12/25/14 at 10:55 am to LSURussian
quote:
The 5% GDP figure was an annualized number based on one quarter. And that quarter had numerous "adjustments" which other quarters don't usually have.
The first nine months of 2014 has had a growth in GDP of 2.5% on an annualized basis. That's a pretty pitiful growth rate coming out of a deep recession. Don't drink the Kool-Aid.
This plus the net effect of quantitative easing.
Good post.
Posted on 12/25/14 at 11:01 am to deltaland
quote:
As far as taxing your average joe, tax rates won't affect GDP much at all unless they are so high that they kill incentive to work because there is no profit motivation to produce.
Disagree. Higher taxes on earned income means consumers have less money to spend on goods and services. That means businesses see their income fall and their ability to invest/expand is limited.
Posted on 12/25/14 at 11:20 am to deltaland
quote:
GDP is driven by consumer confidence
You say it as if its the only driver. Oversimplification...
You can also say that it's driven by forcing every uninsured person to pay $5-20k into the health insurance system - you wouldn't be wrong
Posted on 12/25/14 at 1:36 pm to HailHailtoMichigan!
No offense, OP, but you don't seem very knowledgeable concerning economics.
Posted on 12/25/14 at 3:54 pm to ocelot4ark
quote:
Can I assume, then, that you're all for a drastically reduced military budget?
Absolutely. We need to pull way back militarily. We need more troops stationed along our northern and southern border and far less in italy, germany, iraq, and afghanistan. If they want our protection, they can pay us for it via pmc's. The american military should protect america, that's it.
I'm also in favor of nixing the dept of education, department of energy, federal reserve, irs, combining the cia and nsa, combining all of our different law enforcement beauros into a single fbi. We can eliminate corn subsidies, ethanol mandates, ect all while we're at it. We need to take a cleaver to the federal government to get it back to its roots: building roads, military, print and borrow money, make treaties, regulate trade between states, provide disaster relief, ensure equal treatment under the law, run the postal service, settle disputes between the states, ect. That's about it. The states were given the power over everything else for a reason. People in far-flung states don't share the same values nor do they want the same things from their government. That's why we had a government that was so decentralized so that we had the potential for 50 solutions to a problem, tailored to the local population, rather than a one size fits all approach.
Posted on 12/26/14 at 9:39 am to HailHailtoMichigan!
quote:
In fact, the economy has sped up
marginally sped up
btw....stock market appreciation =/= economic growth
Posted on 12/26/14 at 10:16 am to Bestbank Tiger
quote:
Higher taxes on earned income means consumers have less money to spend on goods and services. That means businesses see their income fall and their ability to invest/expand is limited.
It will hurt small business but it won't affect GDP because higher taxes means more Government spending and Government spending is included in GDP. The money would just benefit business that sells goods/services to government such as defense contractors, military equipment manufacturers, etc.
If you were to raise taxes solely to pay off debt then it would affect GDP because it isn't spending on goods or services.
Posted on 12/26/14 at 10:32 am to deltaland
I still think taxes need to be raised to pay down debts and try and keep social security and Medicare around.
And now is the time to do it with a healthy economy. Really hate it the GOP has continued to force the Bush tax cuts to keep being extended.
And now is the time to do it with a healthy economy. Really hate it the GOP has continued to force the Bush tax cuts to keep being extended.
This post was edited on 12/26/14 at 10:36 am
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