*looking at my pay stub* I dunno about the upper 2%, but what i've paid in taxes this year is f***ng ridiculous. Why can't spending deficits be resolved through less spending, instead of more taxing????
><snip> > Nobody thinks Reaganomics worked, at least nobody credible that's being honest. > > The core of Reagan's plan was the so-called Laffer Curve (no pun > intended). Mr. Laffer postulated that if taxes were lowered federal > government tax receipts would actually go up since the economy would > explode due to all of the freed up capital that would now be put into > businesses. > > He was right in that something had to be done about tax rates and Mr. > Reagan was right to lower them. After the cuts, however, tax receipts > didn't rise significantly, but they didn't sink drastically either. > Laffer proponents will say that's proof that it sort of worked. > > Most people who've studied it have concluded that tax receipts didn't > drop off drastically because rich people, whose tax rate was 70% +, > were no longer incented to keep their money in off shore tax shelters > so they repatriated their money which then got taxed at 30% +. > > If you remember, Mr. Reagan raised taxes in his second term because he > had no choice. So even Mr. Reagan would say Reganonmics didn't work > how he was told. > > The deficit hobbled the economy until Mr. Clinton's term where he > raised taxes on upper income folks by about 7% in 1993. He used the > funds to pay off the deficit which freed up money that was being used > to service the debt. That service capital was invested into the > country and triggered the largest wealth expansion in global history. > > One of the key factors in this equation was the Republican Congress > helping to hold Mr. Clinton's discretionary spending down to 3.7% per > year, less than half the rate of Mr. Bush's current non-defense > non-security spending. > > This successful equation is why, if you're a fiscal conservative, > you'll vote for Mr. Kerry and Republicans for Congress. Mr. Bush's > loss will discredit big gov't neo-cons and you'll see fiscal > responsibility returned to the Republican party. > > If Mr. Bush wins, however, the money train will continue stronger than > ever and the next generation will be the first to have less than its > predecessor. > <snip> ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Purchase from House of Fusion, a Macromedia Authorized Affiliate and support the CF community. http://www.houseoffusion.com/banners/view.cfm?bannerid=34 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:133181 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
