Posted on 10/16/2017 10:33:33 AM PDT by SeekAndFind
The key is shrinking government, which the budget proposal Trump submitted to Congress did, but was promptly shit-canned with snide remarks. Cutting taxes w/o shrinking govt is all carrot, no stick.
If you look at the raw revenue data over the last 60 years(starting with Kennedy) tax receipts grow year over year REGARDLESS of the marginal tax rates. The only times the revenue deceases year over year is when the economy tanks. When the economy is going gang busters receipts increase dramatically. The best way to get the economy growing dramatically is with tax cuts.
If you eliminate government spending on the "parasite class" then you can cut taxes even more!
Yep.
Some people need to see it in print.
BTW, how’rya doin’?
NUTS TO THAT!
Tax cuts cause economic growth. Read The Laffer Curve, etc. Stop reading Keynesian claptrap.
And even if tax rate cuts didn't stimulate growth, tax is theft. It's immoral, and therefore it should be minimized, not maximized. But you'll never get a Marxist to agree.
I’m doing great Sauropod. How are you doing?
Livin’ the dream.
Good. Just what I’d want for you.
Likewise.
leftist never include the “G” factor in an economic equation
The G factor is growth.
CBO does use dynamic scoring, just not as much as Mnuchin thinks they should.
Keynesianism is exactly what you’re espousing. Higher deficits leading to growth. Not that it’s wrong, just you should be aware that you are a Keynesian.
That is correct
Well, that's the elephant in the room alright.
The left side of that equation is spending.
For later....
Actually this is not quite the Keynesian philosophy. Keynes supported government spending to aid a weak economy, (This is what you call higher deficits) In Keynes concept, the government would “bank” tax revenue in good years and then spend this bank when necessary, and this would not affect the deficit — but the government never gets this right because when they have a banner year they spend more.
Keynes was for capitalism but thought that the government intervention from time to time would make things better than the free market — which does make mistakes sometimes. It turns out that Keynesian economists also make mistakes and do so at a higher rate (IMO) than the free market ever would. This is because the government cannot do anything efficiently and politicians are naturally greedy and corruptible.
Anyway, Trump wants to cut taxes and let the economy grow and maybe build more deficit or maybe not depending on how well the economy grows. I happen to support him with this idea, we are taxed too much (as Bill C admitted) and we should retire the deficit with spending control.
KC
If “higher deficits” lead to “growth”, why isn’t Zimbabwe an economic powerhouse?
Or Venezuela?
Or Puerto Rico?
Or Detroit?
Or...
Agree. Keynes did believe that over time the budget should ideally be in surplus as often as in deficit. We’ve villainized him on the right not because of what he really said, but because of how his ideas have been abused by congresses and presidents for such a long time.
The politicians view of Keynesianism is basically: “If ‘pump priming’ can solve a temporary growth problem, and if growth solves ALL problems, then infinite deficits should lead to infinite joy.” But alas.
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