Life Under the Tea Party

dbphoenix

dbphoenix

Kansas Gov. Sam Brownback should be coasting to re-election this fall. The soft-spoken son of a Kansas pig farmer is the conservative governor of a deep red state, and he’s running in a year when Republicans will likely have a national advantage over Democrats. Instead, Brownback is now fighting for political survival in what his detractors call the theocratic dictatorship of “Brownbackistan.”

If Brownbackistan were running surpluses with essential services humming along, the governor would probably be fending off rumors of a 2016 presidential run. Instead, he is locked in a tight race with the House Minority Leader Paul Davis, who led Brownback by 6 points in a recent SurveyUSA poll and has been endorsed by more than 100 current and former Republican officials. Last week, the Cook Political Report moved the November contest from a likely Republican win to a pure toss-up. more . . .
 
dbphoenix said:
Kansas Gov. Sam Brownback should be coasting to re-election this fall. The soft-spoken son of a Kansas pig farmer is the conservative governor of a deep red state, and he’s running in a year when Republicans will likely have a national advantage over Democrats. Instead, Brownback is now fighting for political survival in what his detractors call the theocratic dictatorship of “Brownbackistan.”

If Brownbackistan were running surpluses with essential services humming along, the governor would probably be fending off rumors of a 2016 presidential run. Instead, he is locked in a tight race with the House Minority Leader Paul Davis, who led Brownback by 6 points in a recent SurveyUSA poll and has been endorsed by more than 100 current and former Republican officials. Last week, the Cook Political Report moved the November contest from a likely Republican win to a pure toss-up. more . . .
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Brownback is, of course, mistaken. He obviously doesn't read widely in the economic literature, because he has followed economic tenets of the 1980s long after they were shown to be wrong. You don't get growth by cutting taxes, and tax cuts don't pay for themselves in increased productivity. If you want to increase productivity, current thinking is that there is no quick or magical way to do it. You have to do it through long-term investment in education, research, and infrastructure. The payoff comes years down the road. That's a problem for today's politician who is expected to perform economic magic immediately upon being elected.

John Quiggan's book, "Zombie Economics," published by Princeton University Press, discusses these failed- and-refusing- to- die- economic- fads. What's happening in Kansas is a perfect example of Zombie Economics raising its ugly, blue and shrunken head once again.
 
piezoe said:
Brownback is, of course, mistaken. He obviously doesn't read widely in the economic literature, because he has followed economic tenets of the 1980s long after they were shown to be wrong. You don't get growth by cutting taxes, and tax cuts don't pay for themselves in increased productivity. If you want to increase productivity, current thinking is that there is no quick or magical way to do it. You have to do it through long-term investment in education, research, and infrastructure. The payoff comes years down the road. That's a problem for today's politician who is expected to perform economic magic immediately upon being elected.

John Quiggan's book, "Zombie Economics," published by Princeton University Press, discusses these failed- and-refusing- to- die- economic- fads. What's happening in Kansas is a perfect example of Zombie Economics raising its ugly, blue and shrunken head once again.
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Your reply here contains the elements for why, sometimes, tax cuts would lead to increased revenue. During crowding out, when interest rates are high, i.e. the competition for money is strong, government tax cuts, at least on the investment class, would lead to more investment and, eventually, higher growth and revenues.
 
Ricter said:
Your reply here contains the elements for why, sometimes, tax cuts would lead to increased revenue. During crowding out, when interest rates are high, i.e. the competition for money is strong, government tax cuts, at least on the investment class, would lead to more investment and, eventually, higher growth and revenues.
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Yes, under those circumstances, perhaps, but only in the long run. The immediate effect will be decreased revenue that will be countered by borrowing at high interest.
 
you are still going with that specious detritus from Quiggan.

I told you he is using models... not real numbers.
Quiggan's analysis about tax cuts not working is based on real life. He baselines to an economy that grows at _ percent no matter what is happening in real life.
He then says tax cuts cause revenue to fall short of revenues you would have absent tax cuts in an economy that grows x percent
But that analysis does not say that tax cuts can't grow revenues.
Piezoe you have to stop making leftist drone statements without thinking through what you are saying.

in the real world we saw revenues go up after tax cuts.
after the bush tax cuts we saw spending go up... but we even say the budget deficit go down.

in the real world... tax cuts are followed by revenue increaes (on national levels)
in the model world economies grow no mater how much you tax them.

Finally of course you can get growth by cutting taxes...
what would happen if you cut taxes from 99% to 2 %.

you know damn well you would get investment and growth.
so the question is... where are we on the curve... not whether tax cuts work.





piezoe said:
Brownback is, of course, mistaken. He obviously doesn't read widely in the economic literature, because he has followed economic tenets of the 1980s long after they were shown to be wrong. You don't get growth by cutting taxes, and tax cuts don't pay for themselves in increased productivity. If you want to increase productivity, current thinking is that there is no quick or magical way to do it. You have to do it through long-term investment in education, research, and infrastructure. The payoff comes years down the road. That's a problem for today's politician who is expected to perform economic magic immediately upon being elected.

John Quiggan's book, "Zombie Economics," published by Princeton University Press, discusses these failed- and-refusing- to- die- economic- fads. What's happening in Kansas is a perfect example of Zombie Economics raising its ugly, blue and shrunken head once again.
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are you kidding me... you can misrepresent reality like that after I have given you the real facts on other threads.
how can you lie like that?
lets look at the tax cuts and then look at the increasing revenue numbers after them...

Lets start with the Bush tax cuts...

Did revenues go up after the 2003 Bush tax cuts...
Yes or no?

Did the defict go down?
(even the top 1% paid more)

I will give them to you... in billions

2004... receipts... 1880.1 deficit -413
05 receipts 2153.6 deficit -318
06 receipts 2407 deficit -248
07 receipts 2568 deficit -161

here is the link again...
would you stop lying about tax cuts and revenues... you just said you admit your mistakes...
you can see after tax cuts revenue went after other tax cuts too.

http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200
 
Liberals live in an alternate universe. Facts and common sense are alien notions to them. If the media repeat something enough, it becomes true, no matter how ridiculous.

Take this border crisis. Now the liberal talking point is that it is the result of republicans failing to pass immigration "reform", ie amnesty. So a horde of people coming here because Obama held out the prospect of amnesty is republicans' fault because they didn't pass the amnesty they came here for. Odd reasoning, but then again, liberals are not overly prone to logic or critical thinking. Feeling good about yourself is all that matters.
 
Historical Source of Revenue as Share of GDP

Evidence Shows That Tax Cuts Lose Revenue

..."Given the evidence, economists across the political spectrum reject the notion that tax cuts pay for themselves. They include Edward Lazear, current chairman of President Bush’s Council of Economic Advisers (who told Congress, “I certainly would not claim that tax cuts pay for themselves”) and N. Gregory Mankiw, the CEA chair earlier in President Bush’s administration (who once compared an economist who says that tax cuts pay for themselves to a “snake oil salesman trying to sell a miracle cure”)"


----------------

Normalize the data!
 
after the bush cuts... revenues went up spending went up and the deficit went down for 3 years...
there is no way on earth anyone can honestly say the tax cuts did not pay for themselves... no method can do that.... yet...
we have leftist drones saying normalize the data... or baseline the data... why?

normalize the data... why the hell would we normalize the data?
we are not trying to maximize govt revenues... we are trying to grow the economy so that more americans can have jobs...
to keep you leftist happy we can also try to make sure revenues go up as well.

But.... and I mean this nicest possible manner...
only a big govt loving fascist would say... but revenues as a percent of gdp are not as high as they would be in the model world.


would your rather have 99 percent of 100
or 1 % of a million?
wait... fascists can not answer the above question... cause it gives them away.

Covertibility said:
Historical Source of Revenue as Share of GDP

Evidence Shows That Tax Cuts Lose Revenue

..."Given the evidence, economists across the political spectrum reject the notion that tax cuts pay for themselves. They include Edward Lazear, current chairman of President Bush’s Council of Economic Advisers (who told Congress, “I certainly would not claim that tax cuts pay for themselves”) and N. Gregory Mankiw, the CEA chair earlier in President Bush’s administration (who once compared an economist who says that tax cuts pay for themselves to a “snake oil salesman trying to sell a miracle cure”)"


----------------

Normalize the data!
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