Posted on 12/04/2012 8:25:22 AM PST by ksen
Lets start here first:
Internal Revenue Service data show that 3 percent of Senate staffers and more than 4 percent of House staffers owed taxes in 2010, adding up to about $10.6 million in unpaid taxes. More than 98,000 civilian federal employees were delinquent on their taxes in 2010, adding up to more than $1 billion in taxes owed, according to the IRS.
Bush smoocher huh?
You can’t just tinker with marginal rates and call it supply side. Buy every other measure the environment for business got worse under Bush.
Buy = by.
This is like blaming free markets for poverty when we haven’t had free markets since the Civil War
do these studies include government regulation and inflation as taxes?
I’ll still take it over redistribution.
And here is another one for you,
“They didn’t cause the income gap to increase. Given all the talk about Bush’s massive tax cuts for the rich, you might also think that his tax cuts contributed to a widening of the income gap. Except that didn’t happen, either. According to the Census Bureau, the “gini index” of income inequality was the same when Bush left office as when he came in. (It’s actually risen each year under Obama.)”
Read More At IBD: http://news.investors.com/ibd-editorials-perspective/112812-635034-5-secrets-about-the-bush-tax-cuts.htm#ixzz2E6QVxkXE
bump
Reagan cut marginal tax rates greatly.
That was the core idea, and it worked well.
Since then the dealing has been on much smaller margins. Bush made a significant temporary reduction, but much smaller than Reagans, and median household income did rise again until the last bubble burst.
The real problem now isn’t actual rates, even marginal ones, but structural impediments such as regulations and their associated litigation and fear of liability. These represent a much broader based hidden tax and have increased without restraint regardless of the administration. The last serious effort at pruning them was late in the Carter administration, continued by Reagan, when much of the overhead, mainly on freighting and transportation was reduced. This contributed to the Reagan boom, and to date.
This sort of regulatory and litigious overhead is not reflected in crude tax burden calculations.
IIRC, it calls for stimulus spending during times of economic slowdowns and for frugality during times of prosperity. Somehow, they never seem to get around to implementing the second part.
You are defending a tax system that defines fairness as a certain class of people paying a higher percentage. That progressive ideology, as all progressive ideologies, is false.
It would also zero out spending on non-essential operations.
bump
Exactly. They can call it “Supply Side” or whatever, but it wasn’t really. Very little about the federal government changed, it didn’t get smaller or less expensive or less intrusive.
Nothing but a talking point
Financed by debt. It is unarguable that the top percentages of income earners have reaped the majority of economic and productivity gains in this country. Throwing out there that people have flat screen tvs now is equivalent to Marie Antoinette stating, "Let them eat cake."
The argument should be on whether or not you think this is necessarily harmful in the long run.
So what’s your point? Do you wish for the government to have more revenue? Do you want the government to redistribute wealth to insure more “equity”?
Best statement so far. Supply side works to drive economic growth if and only if government spending remains stable as a percent of GDP. There in lies the problem. Not even Reagan was able to reign in government spending and we all know what has happened since then. Consider this also, can one argue that the advent of the global economy and so called free trade driven the new capital from supply side overseas? Did supply side do nothing but grow the economies of the third world?
Actually not. Read this,
“They didn’t cause the income gap to increase. Given all the talk about Bush’s massive tax cuts for the rich, you might also think that his tax cuts contributed to a widening of the income gap. Except that didn’t happen, either. According to the Census Bureau, the “gini index” of income inequality was the same when Bush left office as when he came in. (It’s actually risen each year under Obama.)”
Read More At IBD: http://news.investors.com/ibd-editorials-perspective/112812-635034-5-secrets-about-the-bush-tax-cuts.htm#ixzz2E6QVxkXE
There was real poverty during the Great Depression. There is no such thing in America today. Help is available for those that need it and clearly less are worse off than back then. It is pure class envy to look at what other’s have and say you are “entitled” to the same. Remember the 10th Commandment, “You shall not covet your neighbor’s house; you shall not covet your neighbor’s wife, or his male servant, or his female servant, or his ox, or his donkey, or anything that is your neighbor’s.”
According to this site -
The number of pages in the US tax code went from 40,500 pages in 1995 to 67,500 pages in 2008.
So that tells Bush and the gang were tinkering with things besides the marginal tax rates in those years.
As for GDP, I suggest you look at Warren Brookes, "The Economy in Mind" for an assessment of the JFK tax cuts (which sparked significant growth). On the Reagan tax cuts, try "The Supply Side Revolution." Reagan's economy created 14 million (!!!!!~!) NET new jobs. Bush's smaller cuts created 6 million. Clinton, in between, still rode the Reagan cuts.
The historical evidence of the 20s, 60s, 80s, and 2000s is that whatever happens to the rich, cutting their taxes is the fastest route to increase the SHARE of taxes paid by the rich. That's why rich libs are ALWAYS in favor of increasing tax RATES, because they know the TAX REALITY and REVENUE will go down if rates go up.
As to GNP, GNP is based on a number of things, including high energy prices which dampens economic activity and overregulation. Since the 20s, we have been heavily overregulated, even in the Reagan years where there was some deregulation.
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