Nobel Prize-Winning Economist Joseph Stiglitz says:
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Quote from Covertibility:
From my post that originally had this chart - ronald reagan 100. now the truth. Then on the next page you reply with the idiotic answer showing you don't know how to read and interpret the graph, and I'm you still don't understand it now.
Out of a recession, tax revenues can grow at the same pace but at a lower level - that's what the graph is showing. Tax cuts do not pay for themselves, they will create a budget deficit unless there are spending offsets!!!! If the tax cuts produced more revenue, the blue line would cross over the red line!!!!! This is basic logic.
There really is no reason why the world should have republicans. They are easily as worse if not worst than the Taliban. These people are like the Taliban but only dumber.
As I suspected another closed minded democrat who can't read charts or understand basic economics or business.
The blue line does not have cross over the red line for tax decreases to precede revenue increases. Please look at your chart. Understand it. Grasp the point of the blue line and what it represents.
See where it peaks around 1982... see it pop to new highs in 1984.
Guess what. That means tax cuts preceded an increase in revenue.
Your red line crossover is irrelevant to my point and our conversation.
Your graph makes my point...? Comprendo?
Tax cuts - can and did lead to increased revenue. Your chart provies it.
In fact along most of the revenue vs tax rate curve you would expect tax cuts to stimulate the economy and produce more revenue. More people working equals more people paying taxes and transacting. Now if the traitors in washington would stop spending.
In many circumstances if you have a budget problem... you should cut taxes (along most of the curve) and lower spending or cap spending where you are and let revenues grow to meet it.
Increasing taxes runs the heavy risk of destroying the economy and thereby decreasing revenue.
Which was stiglitz told you. austerity does not work.
do you realize convertibility was fooled by the red line. A red line which really served no purpose but to distract people from the truth of tax cuts.
that chart shows the deception of the party of the freeloaders. We have a chart which shows Reagan to be perfectly correct... And yet 99% of the media pretends tax cuts did not work by pointing to a red line which means nothing useful.
that chart shows the deception of the party of the freeloaders. We have a chart which shows Reagan to be perfectly correct... And yet 99% of the media pretends tax cuts did not work by pointing to a red line which means nothing useful.
This is irrefutable.
Reagan was the most fiscally-promiscuous president of the 20th century, and we are still dealing with the ramifications.
True enough, but some things are matters of degree. Since the Dems have gone full-blown collectivist over the years, that makes the Republicans the lesser of two evils. Plus, the Republicans don't make as many promises as the Dems and, if there's one thing I can't stand, it's some slimy politician making promises, unless it's a promise to jump off the nearest skyscraper.
Not cutting spending is the crime. Right now the govt is spending so much they have the fed is buying the debt. Causing a 20% or more reduction in the value of the dollar. That means the gov't spending is a massive tax on those with savings and serious tax on those with jobs.
so you add state taxes, plus IRS, fico medicare, gas, sin taxes, electricity, phone, and all the other taxes up... it is just insane.
the problem is spending... we already have the shit taxed out of us. Taxing us more just would just cause those who generate jobs to leave and not generate jobs causing revenue to go down.
Both parties have lost their way, and are unlikely to figure it out until the voters themselves, who are even more lost and bordering on the irrational, figure it out.
That's how democracy works.
That's how democracy works.
That is why you chose to default of course. Interest goes up for a while but then the market calms down again.