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Originally Posted by detbuch
Right, the Dems were vehemently opposed to the tax cuts and the Repubs had to do what they could to get them passed. And so the magic tax cut fairy dust is now also believed in by the Dems.
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Tax cuts impact different people in different ways. You're generalizing...
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That tax cuts alone don't work, does not mean they don't help. Which is why, I guess, the Dems want to continue the fairy dust.
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Do tax cuts always help? For top earners the Bush tax cuts had a significant negative impact on deficit spending and yet didn't seem to drive economic expansion nearly as much as cheap credit.
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Now, what everybody seems to agree on, seems being the operative word, is that spending cuts would be another policy that would add to tax cuts so that they "alone" won't have to do all the work. Interesting to see if that actually transpires, and if so, if there will be meaningful cuts, or just smoke and mirror, magic spending cut fairy dust.
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I think we'll get some movement this year but I'm not sure either side right now is honest about significant spending cuts...even many in the GOP.
-spence