Law School Discussion

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twelvehundred

Re: Hey, let's reduce the deficit by giving away TAX CUTS!!!
« Reply #10 on: December 10, 2005, 01:23:22 AM »
Wow...  I didnt know that I needed to connect all the dots for you.  Saving money leads to increased capital investment leads to greater productivity leads to increased tax revenue.

TrojanChispas

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Re: Hey, let's reduce the deficit by giving away TAX CUTS!!!
« Reply #11 on: December 10, 2005, 01:33:49 AM »
interesting stuff

Julie Fern

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Re: Hey, let's reduce the deficit by giving away TAX CUTS!!!
« Reply #12 on: December 10, 2005, 04:09:12 AM »
I don't care it helps the deficit or not. It's my money, if I want to give to the poor, I will (and do). It enrages me that we pay nearly 1/2 our income in taxes. Think of it this way. You work 4 hours for the government for every 8 hours you work!

Dispute the 50% if you want I haven't done all the math, but it's close. ~28% income tax, state income tax (not all states, but a lot), social security, medicaid, medicare, sales tax, property tax (ya you pay it even if you rent), licenses and fees, corporate tax (ya you pay some of this too, they pass along most of it). Then they hit you w/estate tax when you die.

Let's put it this way, the colonists paid no where near 25% tax when they revolted from the British. True they were mad about the lack of representation too, but taxes triggered the revolt.

We spend to much granted, but if the government doesn't go broke they won't stop spending.

If representatives ever figure out that they can bribe voters with their own money... - Alex de Tocqueville

poor?  how about defense contractors?

and do you defend spending more than taking in?

_BP_

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Re: Hey, let's reduce the deficit by giving away TAX CUTS!!!
« Reply #13 on: December 10, 2005, 07:12:14 AM »
Wow...  I didnt know that I needed to connect all the dots for you.  Saving money leads to increased capital investment leads to greater productivity leads to increased tax revenue.

You can save the Econ 101 quotes, I've been a financial analyst for the last 6 years, and have worked on numerous real world Economic issues for my company.

You don't have to connect the dots, you have to SUBSTANTIATE YOUR CLAIMS!  There is a difference.  Now again, I ask you, when has this ever happened?:

It is a tough concept for most people to grasp, but cutting taxes often leads to increased tax revenue.

I say "NEVER" and you say "OFTEN". I'll even lower the bar for you.  Give me ONE single instance within the last 100 years.

I really don't mean to be a male private part, but these right-wingers that come up with this sh*t lie and lie and lie, and then people pick up their b.s and repeat it and repeat it and after a while, if it's said enough it becomes "true".  No ones holds them accountable for this stuff, and it irks me.

_BP_

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Re: Hey, let's reduce the deficit by giving away TAX CUTS!!!
« Reply #14 on: December 10, 2005, 07:26:28 AM »
You don't have to connect the dots, you have to SUBSTANTIATE YOUR CLAIMS! 

or STFU? :D

sorry, had to bring back your last quote, though i like your current one also.

i can think of one that vaguely resembles what he's talking about, but the situations are too radically different to bother. 

LOL, exactly Stanley! I think I know the one that you are thinking about too, and you are spot on about the situations being radically different.  As a matter of fact, there is a solid economic explanation for that particular result.  I'll wait and see if twelvehundred is going to point out that case, but I doubt it.  Why waste time on facts when you can just repeat the same thing ten times?

edit: I don't really want to be too hard on you twelvehundred, but this stuff gets me.

_BP_

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Re: Hey, let's reduce the deficit by giving away TAX CUTS!!!
« Reply #15 on: December 10, 2005, 07:38:37 AM »
i will be interested to see if we are thinking of the same instance.

Why waste time on facts when you can just repeat the same thing ten times? haha

and don't discount this as an argument tactic.  i have one co-worker that is particularly right-wing, so every chance i get i call him a communist, and i am now bringing everyone else around to my way of thinking!  :D

I'm curious to see if we are as well.
 ;D @ your co-worker story
Oh, I know that argument tactic works like a charm.  That's why even after the administration finally admitted that there was no Saddam/911 link more than half the country still believed that there was (cause they had heard the claim a 100 times prior) ;) LOL, but I won't turn this into a political convo...haha

Freak

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Re: Hey, let's reduce the deficit by giving away TAX CUTS!!!
« Reply #16 on: December 10, 2005, 04:44:12 PM »
Stan, I agree it's us not the government that needs to change. We let our representatives bribe us with our own money. It makes me sick.

twelvehundred

Re: Hey, let's reduce the deficit by giving away TAX CUTS!!!
« Reply #17 on: December 11, 2005, 12:41:53 AM »
I'll sum it up in the words of the most brilliant economist of our time, George Reisman:

(Speaking about high incomes) "The extremely high incomes...are overwhelmingly saved and invested. In this way, they bring about large-scale capital accumulation. Capital is the foundation both of the demand for labor and the supply of consumers’ goods. Its continuous accumulation is the foundation of high and rising real wages and a high and rising standard of living for everyone."

Now for specific examples.

You beleived that the increased revenues after the Reagan cuts were nonexistant if adjusted for inflation.
The following chart shows increased tax revenues adjusted for inflation for the decade following the cuts.

http://www.heritage.org/Research/Taxes/images/chart.gif

[img width= height=]http://www.heritage.org/Research/Taxes/images/chart.gif[/img]

A more modern example is occuring as we speak.  After the Bush tax cuts, the economy began improving, and surprise surprise, tax revenues are increasing.

It's a little something called the Laffer Curve.
[img width= height=]http://www.investopedia.com/images/terms/laffercurve.gif[/img]


Julie Fern

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Re: Hey, let's reduce the deficit by giving away TAX CUTS!!!
« Reply #18 on: December 11, 2005, 04:07:18 AM »
funny how you republican apologists entiely avoid subject of our record deficits.

what laffer say about them?

ImVinny!

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Re: Hey, let's reduce the deficit by giving away TAX CUTS!!!
« Reply #19 on: December 11, 2005, 01:42:00 PM »
Wouldn't it take more than three years for us to see the effects of the Bush tax cuts? People need to realize that things aren't going to happen in a second as far as the economy goes.
Clinton should thank Reagan, and Bush should thank Clinton for our deficit. That's the way it goes.