Quote:
Originally Posted by spence
Tax cuts impact different people in different ways. You're generalizing...
I checked what I said--it seemed rather specific. Your response, on the other hand was rather vague . . . one might say "you're generalizing . . ."
Do tax cuts always help?
Do they? Or is this just a general question? Is there anything that "always" helps? Depends on a whole lot of specifics (and opinions). Rather vague . . .
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.
I would hope that tax cuts WOULD have a significant negative impact on deficit spending. The less deficit spending the better. Isn't it peculiar that the more "revenue" the government gets, the more it deficit spends. Kind of a goofy Keynesian relationship.
The cheap credit is still hanging around but doesn't seem to be driving much economic expansion. Maybe its just not having a significant negative impact on the increasing deficit spending.
Maybe deficit spending kind of has a life of its own, or of politician's preference, rather than necessarily having a connection to revenue or credit.
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
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Isn't it amazing how we can repeatedly say "even many in the GOP" yet it is the other's in the GOP, like tea partiers or "conservatives," that are marginalized and painted as kooks? It is true, I think, that many in the GOP are not much different than Dems. But they're supposed to be the good ones. So we keep getting deeper in debt, but happily so since the good guys are winning.