Posted on 09/15/2010 8:32:28 AM PDT by TigerLikesRooster
Taxes must rise to fight budget deficit: Greenspan
10:32am EDT
NEW YORK (Reuters) - Taxes must rise while fiscal stimulus needs to be wound down in order to reduce the U.S. budget deficit and allow private investment to expand, said former Chairman of the Federal Reserve Alan Greenspan on Wednesday.
"I am in favor for the first time in my memory of raising taxes," Greenspan told an audience at the Council on Foreign Relations in New York
He warned that the deficit, swollen by massive stimulus spending, was crowding out capital investment. We "must find a way to simmer down fiscal activism and allow the economy to heal," he said, adding that that stimulus spending had been far less successful than anticipated.
(Excerpt) Read more at reuters.com ...
Greenspan should be in an orange jumpsuit!
Cut all government employees salaries and pensions in half and we wont have a budget deficit.
Andrea must have squeezed the jewels real hard to get that to slip past Al’s lips.
Even when we are in the end game, he is still screwing us.
The “S” word (spending) is like a cross to a vampire with these clowns.
well said!
And think...this bum used to be an objectivist. Fair warning as to what marriage to Andrea Mitchell will do to you.
He warned that the deficit, swollen by massive stimulus spending, was crowding out capital investment.
Al, it's the spending stupid. You focus on how to finance the spending. You focus on the wrong thing. (But you probably know that)
I take it that cutting the budget is out of the question?
Frog March that sucker!
He can share a cell with Bernanke...
Just whom are we gonna tax, Alan? HMMM? The out of work “jobless recovery” workforce. Or the overseas out sourcing corporations who have NOONE to sell to except B2B?!! This man is a tool of the money printers. The Federal Reserve is a PRIVATE bank, and this private banker is telling us we need to pay taxes. For whose sake. Govt? The Fed is inflating money, just not yet. Inflation IS taxation you SOB!!
Yeah, now that you're out of "the system," right, Mr. Andrea Mitchell? What say you STFU now, OK?
How can we miss him if he won’t go away?
Yeah....'cause you've spent the last year and a half foisting a major fiscal BLOAT job onto us, you jackass!
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Face it..... The government HAS BECOME the enemy of Liberty.
Hey, Greenspan ... were you not paying attention during the Reagan years when he cut taxes which, in effect, caused tax revenues to rise? Have you forgotten about that?
If the public has no confidence, they won’t spend. Raising taxes will lower that confidence even more.
His own paper in 1974 said spending plus tax cuts equal prosperity. Yet, here he is, sold-out and paid for, claiming the exact opposite.
” “I am in favor for the first time in my memory of raising taxes,” “
This is the first time in my memory that Mr. Greenspan has made a clear, unequivocal, one-sentence, point...
And it’s wrong....
I reject the notion that I am responsible for politicians irresponsible spending.
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