> Bush's tax cuts too small, says Nobel winner
> http://straitstimes.asia1.com.sg/world/story/0,4386,277703,00.html
I read that. To my knowledge the Laffer curve was discredited due to
the top 2% moving their money out of offshore tax shelters and back
into the US since the hassle outweighed the benefit.
Further, Clinton did raise the upper 2% tax from, approx, 32% to 39%.
This triggered one of the largest booms ever.
I certainly don't have the expertise to contradict the gentleman, but
from just about everything I've read, and the economists I've talked
to over the last few years, he's wrong. In fairness, just yesterday a
Harvard economist said the same thing.
My belief is that these guys are talking inside of a bottle - that is,
you can't lower taxes and increase spending for 8 years and think
that's going to be good for the country. The amount of spending the
Republicans have done (incl tax shifts) are heading us towards a
fiscal crisis.
>
> Senate OKs corporate tax bill
> It provides tax breaks, closes glaring loopholes
>
> http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2004/10/12/MNG0Q97KNR1.DTL
>
>
>
> --- Gruss Gott <[EMAIL PROTECTED]> wrote:
>
> > I saw it!! It was just on The Newshour on PBS - the
> > last piece on the
> > deficit and retirement.
> >
> > The lockbox is your average metal file cabinet full
> > of plain manila
> > file folders. The folders are full of IOUs from
> > Americans to
> > Americans - No kidding!
> >
> > Each IOU is for $11 Billion and just one folder
> > contained $100 Billion
> > in IOUs - I saw them!
> >
> > Also my favorite fiscal policy guy was on - Pete
> > Peterson. Same
> > message: America is in DEEP DEEP fiscal doo doo and
> > Mr. Bush just
> > keeps feeding the cows.
>
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