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Posted on 2/17/17 at 10:32 am to Lou Pai
Posted on 2/17/17 at 10:33 am to BugAC
You do realize that while Reagan did cut income taxes, he signed off on tax increases in 5 of the years he was in office on other things, right? Some were modest increases, some were large.
Posted on 2/17/17 at 10:38 am to The Spleen
quote:
There were other consequences of the expansion. Annual Federal spending on public housing and welfare, and on Social Security, Medicare and health all increased by billions of dollars. The poverty rate has fallen steadily since 1983.
When you add up the record of the Reagan years, and the first year of President Bush - during which he has faithfully continued Mr. Reagan's economic policies - the conclusion is clear, inescapable and stunning. We have just witnessed America's Great Expansion.
The Reagan economic expansion was not perfect and we will never have one that is. The Federal budget deficits were too high and still are, too many Federal regulations lay unreformed and the trade deficit is worrisome.
In fact, the Reagan expansion may not have been the best economic expansion in history, for every economic expansion must be judged by many criteria. But if we look at the sheer size and immensity of it, at its scope and power, then it cannot be denied that it was the greatest.
The full impact of the powerful economic recovery that President Reagan launched during the 1980s is still unfolding.
Mr. Reagan's expansion provided the financial resources to allow the U.S. to build up the combat capability of its defense forces and to begin blazing the new trail for a protective missile system. This, in turn, convinced the Soviet rulers they could never defeat the U.S., and today the Soviet Union and the U.S. are busily engaged in nuclear disarmament as peace breaks out in country after country throughout the world.
Equally important, it proved beyond doubt to all (except perhaps for a handful of left-wing faculty members in our best universities) that capitalism is superior to Socialism and Communism. Our economy is the guiding beacon for all those countries that are ripping apart the ruthless collectivist regimes that ruined the lives of their people for so long.
One thing the Marxists got right: Economics is a powerful determining factor of history. But Marxists never dreamed it would be the economics of Ronald Reagan and all those capitalists that would prevail in the end.
Posted on 2/17/17 at 10:39 am to BamaAtl
Lol at stripping out oil-related jobs for KS and not manufacturing. Also, ctrl+f'd "agri", "corn", "farm"... came up with nothing. Saw no mention of Missouri. Lol'd.
This post was edited on 2/17/17 at 10:40 am
Posted on 2/17/17 at 10:40 am to member12
Just terrible. Do you enjoy driving on interstates and being protected by our armed forces? Let me guess, you're gonna protect us all with your AR and a pocket full of cash from not paying taxes?
Posted on 2/17/17 at 10:42 am to Draconian Sanctions
quote:
It's true that tax cuts don't necessarily create growth
sure, I can agree with that carefully worded statement.
Posted on 2/17/17 at 10:47 am to Aubie Spr96
It creates growth of my bank account.
Posted on 2/17/17 at 10:50 am to Aubie Spr96
Tax cuts always increase economic activity if you go out long enough. The issue is the increased growth isn't in a vacuum, so really those that draw conclusions, and really drawing speculation. But the US Gov's revenue figures are pretty hard to deny in periods immediately following a federal tax income tax cut.
But tax cuts are hardly ever revenue neutral.
If we talking about whatever tax cut is being proposed now, I'd throw all of this useless debate away as we've never seen a tax cut targeted like this one is going to be. But no one really knows what it is going to be yet, so pretty hard to even debate it.
But the guy that indicates sometimes tax cuts don't create growth needs to go to the EOD's website, and show me on time it didn't. One time where there wasn't a black swan event, etc. To make either case it's actually pretty difficult due to this, so all we can do it see if there is increased revenue at a greater percentage after a tax cut.
But tax cuts are hardly ever revenue neutral.
If we talking about whatever tax cut is being proposed now, I'd throw all of this useless debate away as we've never seen a tax cut targeted like this one is going to be. But no one really knows what it is going to be yet, so pretty hard to even debate it.
But the guy that indicates sometimes tax cuts don't create growth needs to go to the EOD's website, and show me on time it didn't. One time where there wasn't a black swan event, etc. To make either case it's actually pretty difficult due to this, so all we can do it see if there is increased revenue at a greater percentage after a tax cut.
Posted on 2/17/17 at 10:51 am to Aubie Spr96
quote:
Yahoo! Finance has gone off the fricking rails.
it was never on them. i do allow their push notifications for shits and giggles. they can create causation out of the most tenuous of correlations, like no one else I've ever seen.
Posted on 2/17/17 at 10:56 am to Draconian Sanctions
quote:
quote: Well we do know for certainty that unnecessarily high taxes hinder growth. Ok. And?
All you need to know about the left folks. Broken ideology
This post was edited on 2/17/17 at 10:59 am
Posted on 2/17/17 at 11:09 am to ItNeverRains
What are you talking about? I wasn't disagreeing, it's just not relevant here.
Posted on 2/17/17 at 11:14 am to Lou Pai
quote:
Well, we know you're pissed at them
But you don't know why
Posted on 2/17/17 at 11:18 am to Aubie Spr96
quote:
But tax increases do. AMIRITE?
Don't forget burdensome Regulations. High taxes and regulation is a sure fire way to crank up the economy. Just ask any lib.
Posted on 2/17/17 at 11:18 am to Aubie Spr96
SFP used to crush on this subject for a while and had stats about tax cuts and receipts on hand.
Posted on 2/17/17 at 11:23 am to Bunk Moreland
quote:
SFP used to crush on this subject for a while and had stats about tax cuts and receipts on hand.
There's a point where increasing taxes does not bring in as much revenue as you'd think & generally causes inefficiency in the market.
Conversely there's also a point where if you keep cutting the amount growth that you see diminishes as well and esstentail services are cut.
This isn't a new or controversial concept, although some right wing economists do tend to set that point lower than it actually is. Fake economic news as it were.
This post was edited on 2/17/17 at 11:27 am
Posted on 2/17/17 at 11:27 am to Draconian Sanctions
quote:
Ok. And?
quote:Unemployed
Draconian Sanctions
Posted on 2/17/17 at 11:28 am to Cromulent
Who will build the roads?!
Posted on 2/17/17 at 11:28 am to AuburnTigers
The point
Your head
Your head
Posted on 2/17/17 at 12:42 pm to Seldom Seen
quote:
Well we do know for certainty that unnecessarily high taxes hinder growth.
Thank god we haven't had those since the 70s
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