another republican meme discredited: tax cuts pay for themselves.

Free Thinker · Oct 13, 2011

its been a bad week for republican memes. first the meme that the cra caused the subprime crisis was totally discredited here: http://www.ritholtz.com/blog/2011/1...+Big+Picture)

and now another favorite republican meme is destroyed. do tax cuts pay for themselves?

Can tax cuts âpay for themselves,â inducing so much additional economic growth that government revenue actually increases, rather than decreases? The evidence clearly says no.

http://economix.blogs.nytimes.com/2011/10/13/can-tax-cuts-pay-for-themselves/

Mercor · Oct 13, 2011

Only God knows the real answers.

nutmeg · Oct 13, 2011

If you eliminated every tax that is applied to a gallon of gasoline or deisel fuel, do you think we could generate enough economic activity to offset the cut in taxes?

wildchild · Oct 14, 2011

Tax Revenue 2000 - $2 Trillion
Tax Revenue 2008 - $2.5 Trillion

Even with the dreaded Bush tax cuts, there was an increase of tax revenue of $.5 trillion.

Free thinkers don't regurgitate some pointless dribble that some dunce but into a blog. They view events and come to their own conclusions.

bugscoe · Oct 14, 2011

Quote from wildchild:

Tax Revenue 2000 - $2 Trillion
Tax Revenue 2008 - $2.5 Trillion

Even with the dreaded Bush tax cuts, there was an increase of tax revenue of $.5 trillion.

Free thinkers don't regurgitate some pointless dribble that some dunce but into a blog. They view events and come to their own conclusions.

Why did you skip 2001, 2002, 2003, 2004, 2005, 2006, and 2007?

Free Thinker · Oct 14, 2011

Quote from nutmeg:

If you eliminated every tax that is applied to a gallon of gasoline or deisel fuel, do you think we could generate enough economic activity to offset the cut in taxes?

taxes on fuels are basically user taxes. what happens of no body pays for the cost of upkeep of anything. short term gain for longterm pain.
in any case the article is talking about taxes on incomes.

Free Thinker · Oct 14, 2011

Quote from wildchild:

Tax Revenue 2000 - $2 Trillion
Tax Revenue 2008 - $2.5 Trillion

Even with the dreaded Bush tax cuts, there was an increase of tax revenue of $.5 trillion.

Free thinkers don't regurgitate some pointless dribble that some dunce but into a blog. They view events and come to their own conclusions.

do they look at half a cycle and cherry pick data that ends right before it all blew up? what happened to revenue in 2009 and 2010 with those same bush tax rates after the debt induced boom blew up? bush transfered tax cuts into debt. then when it all blew up he, admittedly with democrat help, transfered private bad debt to public debt.

nutmeg · Oct 14, 2011

Quote from Free Thinker:

in any case the article is talking about taxes on incomes.

Yes. Knocking $500 dollars tax off income of 40k salary ain't going to do squat for anyone. They talk tax cuts where it doesn't matter, then yes they are correct.

denner · Oct 14, 2011

Quote from Free Thinker:

taxes on fuels are basically user taxes. what happens of no body pays for the cost of upkeep of anything. short term gain for longterm pain.
in any case the article is talking about taxes on incomes.

Guess what...the infrastructure of many parts of this country is literally crumbling to pieces. Bridges, roads, etc... We've had all of these surplus taxes in place to supposedly address these issues and yet the money never seems to make it to these repairs. Or worse, things are "patched up" only to re-surface in the same neglected condition a few years later.

This is one of the main reasons why there is so much disgust with talk of new taxes because we've just lived thru a period where every auxillary tax was implemented and yet many cities, states are in far more dire shape in spite of these taxes.

Ricter · Oct 14, 2011

Quote from denner:

Guess what...the infrastructure of many parts of this country is literally crumbling to pieces. Bridges, roads, etc... We've had all of these surplus taxes in place to supposedly address these issues and yet the money never seems to make it to these repairs. Or worse, things are "patched up" only to re-surface in the same neglected condition a few years later.

This is one of the main reasons why there is so much disgust with talk of new taxes because we've just lived thru a period where every auxillary tax was implemented and yet many cities, states are in far more dire shape in spite of these taxes.

Somehow the man in the street has come to believe that the past 30 years of his declining fortunes are because of "high taxes".