Quote:
Originally Posted by spence
You could also argue that in our present situation tax raises would enable the bottom by building a stronger state in which to prosper. Yes, this does assume a level of responsibility we've not seen from either party.
Assuming that in this case "Progressive" = Republicans and Democrats?
There is no war dividend when you're running a deficit.
I'd also argue that government revenues ultimately have more to do with larger (increasingly global) economic trends rather than incentives like low taxation or deregulation.
Our taxes are at historic lows and wealth continues to concentrate at the top and be funneled offshore. Trusting industry has given our housing market a 10+ year wound...
How can anyone seriously argue that yet lower taxes and even less regulation is going to change the vector positively for the American people?
-spence
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"tax raises would enable the bottom by building a stronger state in which to prosper"
Which explains why there is no poverty in places with strong, tax-funded states like Cuba, Iran, and North Korea.
"Our taxes are at historic lows ..."
That makes a great bumper-sticker, because yes there were tax rates in the 70's at one point. But that argument is destroyed when you consider that just about no one paid those taxes, because there were even more shelters then...
Furthermore Spence, you need to consider all taxes. For example, CT did not have an income tax 25 years ago, nowt it's around 5.5%.
I'm guessing that the average earner works longer into the year to pay his tax bill, than he did 50 years ago. I don't have the data to prove that, but it cannot be false.
"There is no war dividend when you're running a deficit.
"
True. But despite what people on your side of the ailse like to claim, we don't enter into wars for profit.
"How can anyone seriously argue that yet lower taxes and even less regulation is going to change the vector positively for the American people?"
Because it worked when Clinton did it. And it worked beter after Bush did it. You work in finance, right? Wasn't the economy robust from 1996-2007? Granted, much of that was fueled by a reckless housing bubble, but not all of it.
Spence, lower taxes means people like me and you get to keep more of our money. You honestly don't think that would help you? And assuming you will either spend, donate, invest, or save that money in a bank, it will help others, too. That's not rocket science.
Spence, let me turn that around. What evidence do you have, to suggest that more taxes and more regulation, will improve the situation?
No one is saying we don't need any regulation. but there is such a thing as too much regulation.
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