Make the Tax Cuts Work (repeal Bush tax cuts & Americans will work to offset higher rates)

NY Times ^ | 1/23/08 | LEN BURMAN

[Libloather]

Make the Tax Cuts Work
By LEN BURMAN
Published: January 23, 2008
Washington

SINCE 2001, Washington’s answer to every policy question has been the same. What should we do with a big surplus? Tax cuts. How do we beat back global terrorism? Tax cuts. Increase energy independence? Rebuild New Orleans? Expand health insurance coverage? Tax cuts, tax cuts, tax cuts.

Now comes another question that becomes more pressing each day that the markets lose ground — one to which taxes have long been at least part of the answer. How do we stimulate the economy to prevent or shorten a recession? One way would be to repeal the Bush tax cuts two years early, in 2009.

It’s true that more tax cuts this year could help head off a recession in the short run. Washington could send taxpayers rebate checks or give businesses temporary breaks for new investments in equipment. President Bush is likely to propose both as part of his $150 billion package of emergency measures.

**SNIP**

But if they were repealed in a year, the Bush tax cuts could spur a burst of economic activity in 2008. If people knew that their tax rates were going up next year, they’d work to make sure that more of their income is taxed at this year’s lower rates. Investors would likewise have a giant incentive to cash out their capital gains now to avoid paying higher taxes later. In 1986, stock sales doubled as taxpayers rushed to avoid the capital gains tax rate increase scheduled for 1987. If people pour their stock gains into yachts and fast cars, that’s pure fiscal stimulus.

**SNIP**

[Libloather]

...they’d work to make sure that more of their income is taxed at this year’s lower rates.

Now, that's funny raht thar. I don't care who ya are...

[MarkT]

Hmmmm, on that theory, tax everyone at 95% and shebang, look at their work efforts then. Let’s do sampling first - everybody that is a Democrat should pay taxes without the Bush cuts - let’s see” a) if they will; and, b) do they work harder.

[ari-freedom]

wow liberals really are that dumb

[Sgt_Schultze]

Hmmm, and interesting idea. Mayhaps the Len Burman family would also benefit if Len were to ENJOY a significant pay cut. That’s what he proposes for all of us. Let the Burman family be the national test case.

[ari-freedom]

he’d work harder...after leaving this country

[big'ol_freeper]

Holy crap these folks are insane.

U.S. Army Retired

[beethovenfan]

Where’s the barf alert for this crap?

[JimSEA]

the Len Burman family would also benefit if Len were to ENJOY a significant pay cut

He might even be forced into taking a second job and thus double his productivity.

Just think of the effects on the economy if no one got to keep any of their wages but instead were given an allotment determined by their basic need. Then the government could require that they work up to their abilities anyhow. What a new and refreshing idea.

[tpanther]

If my taxes go up anymore, I’ll just quit and let the idiots like this support me.

Liberalism is a disease.

[socialismisinsidious]

Do you know how economically stupid one has to be to actually believe this crap! Only a liberal would.

Lot of "ifs" in this bologna! So what happens if I don’t go out and pour my stock gains into yachts (LOL), but I save it instead b/c I’m afraid of the hit I know I’m going to take? Or what is going to happen when in 2009 I don’t spend b/c my taxes are high...then what? We’ll be in a depression b/c of this asinine plan to forestall a recession (debatable in the first place). I know: Raise ‘em again in ‘10 and the sheople will buy, buy, buy b/c of the tax bargain they’re getting. Yup sure! Hey, I know let’s just tax people at 100% and everyone can work, work, work for the common good!

[NicknamedBob]

This is just like my noticing that poor people eat better.

Why else would so many of them be fat?

[Libloather]

Where’s the barf alert for this crap?

It simply didn't fit into the title...

[DoughtyOne]

On so many issues, they are downright clueless. You’d feel sorry for them if they weren’t trying to do so much damage to this nation.

[caisson71]

This is a joke, isn’t it? Nobody can be that stupid. I don’t care if he does write for the NYT.

[popdonnelly]

The author is a nut.

[Libloather]

This is a joke, isn’t it?

You need to spend more time at RATS underground dot com. On the other hand, don't...

[NonValueAdded]

Just damn.

[sphinx]

Does the asylum know this guy is loose?

[NonValueAdded]

This is a joke, isn’t it? Nobody can be that stupid. I don’t care if he does write for the NYT.

Even worse, he's a guest columnist who works at a think tank.

[Sir Gawain]

What’s stopping you from donating more of your income, asshat.

[KarlInOhio]

Art Laffer just shot himself so he could roll over in his grave about this idiocy.

[NonValueAdded]

Len Burman is the director of the Urban-Brookings Tax Policy Center.

Simply amazing, he thinks this stuff up for a living.

[Toddsterpatriot]

If people knew that their tax rates were going up next year, they’d work to make sure that more of their income is taxed at this year’s lower rates.

Sounds like Willie logic.

[Gator113]

With only two working brain cells, how on earth do these freaks breath??

[caisson71]

He must be on food stamps. Who would pay for this garbage?

[Toddsterpatriot]

Even worse, he's a guest columnist who works at a think tank.

Liberal think tanks should be called "feel tanks".

[freeangel]

That is pretty funny. I keep telling my spouse that if hillary gets in, I’m going to quit work rather than have her take my share of our income.

[Phantom Lord]

Mr. Burman has unfortunately committed a massive sin for a liberal and the NY Times.

He has admitted that 1) Lower taxation spurs economic activity and growth and 2) Higher taxation stifles economic activity and reduces growth and even causes a decline in economic activity.

Fortunatley for him, no one at the Times will realize this and thus he is safe.

[Phantom Lord]

Let me guess. There is a thread at DU talking about how great an idea this is and that Burman should get the nobel prize in economics next year.

If there is such a thread, please post a link and ping me.

[longun45]

And he graduated from public LIBERAL indoctrination center. He needs to be in the 99% tax bracket. What a maroon.

[Mase]

"If people knew that their tax rates were going up next year, they’d work to make sure that more of their income is taxed at this year’s lower rates."

LOL.

Vote Democrat: It's easier than thinking.

[VeniVidiVici]

What’s even funnier is that the NYT pays this guy to write this crap.

[MrB]

Ever been in line behind someone that’s ringing up lobster & steak & pay with their “vision card” (food stamps),

while you have a pound of hamburger?

[Dead Corpse]

They are an active and deliberate threat to our Country.

Treat accordingly...

[NicknamedBob]

"Ever been in line behind someone that’s ringing up lobster & steak & pay with their “vision card” (food stamps), while you have a pound of hamburger?"

Um, actually no. I've noticed they go for a lot of junk food and soda, when it is allowed.

Generally, Bob's rule of grocery shopping applies: "The person ahead of you in the line has a more healthy and nutritious selection than you do."

At times I've been tempted to let several people go ahead of me, because they all had made better choices.

However, that rule is frequently violated by those who get their food free.