Posted on 12/09/2019 10:55:26 AM PST by karpov
WASHINGTON — Elizabeth Warren is leading a liberal rebellion against a long-held economic view that large tax increases slow economic growth, trying to upend Democratic policymaking in the way supply-side conservatives changed Republican orthodoxy four decades ago.
Generations of economists, across much of the ideological spectrum, have long held that higher taxes reduce investment, slowing economic growth. That drag, the consensus held, would offset the benefits to growth from increased government spending in areas like education.
Ms. Warren and other leading Democrats say the opposite. The senator from Massachusetts, who is a leading candidate for the Democratic presidential nomination, contends that her plans to tax the rich and spend the revenue to lift the poor and the middle class would accelerate economic growth, not impede it. Other Democratic candidates are making similar claims about their tax-and-spend proposals. Some liberal economists go further and say that simply taxing the rich would help growth no matter what the government did with the money.
Democrats in the past, including the party’s 2016 nominee, Hillary Clinton, have argued that a more modest combination of tax increases and spending programs would expand the economy. But no Democratic nominee before Ms. Warren had ever proposed so many new taxes and spending programs, and leaned so heavily into the argument that they would be, in economist parlance, pro-growth.
That argument tries to reframe a classic debate about the economic “pie” in the United States by suggesting there is no trade-off between increasing the size of the pie and dividing the slices more equitably among all Americans.
Ms. Warren has proposed nearly $3 trillion a year in new taxes on businesses and high-earners, largely focused on billionaires but sometimes hitting Americans who earn $250,000 and above per year. The taxes would fund wide-reaching new government spending
(Excerpt) Read more at nytimes.com ...
Let’s increase the tax rate to 100% to really get things humming!
WAIT!! I GOT THE ANSWER!!
Take MORE of my money so I have LESS to spend, send it to Ukraine in the form of “aid”, wash it back to congressmen and the economy flourishes!! :)
the socialists have admitted many, many times in the past that they use the tax system to discourage activities they don’t like and encourage things they do like, by either raising taxes on those things they want to stop, and lowering or not taxing things they want to promote.
They already admit they use the tax system punitively as a weapon.
And explain why now with the economy doing well so much the libtard media has to acknowledge it, why now do we have to raise taxes to speed it up? It doesn’t need speeding up.
And show one tangible real-life example of raising taxes being an economic benefit and speeding up the economy.
Correct headline:
“Could us taking more of your hard-earned money and using it to buy votes to get us more electoral victories” - Democrat’s say YES
Actually, Republicans should have been arguing this long ago in response to the RATS claiming that the Trump tax cuts were hurting the economy by saying, "So you're saying that we would be having 4 or 5% growth now were it not for the Trump tax cuts." Getting that on record claiming that versus reality would have useful. And for anyone claiming GDP soared after Clinton raised taxes, it soared after the capital gains rate was cut.
They deserve your money more than you do.
Ahh yes. Redistribution of wealth. It always works. What could go wrong? Especially considering how moral, ethical, and trustworthy the ones deciding have proven themselves to be.
Me to democrates - please provide three examples of where increasing taxes has resulted in a better economy 24 months after the increase.
IOW, put up or shut up.
you forgot ‘big brother control’ in the equation.
they are all about control. they are our gods.
Proof of insanity.
A new depth of idiocy for the up is down, black is white, sharp is dull crowd.
Front PUPPET Liz from the Tax and Spend tribe of the D.C. (Divide & Conquer) POWER CENTER.
Should be in prison.
“What happened gramps?”
“Criminals”
The Results of Legal Plunder
It is impossible to introduce into society a greater change and a greater evil than this: the conversion of the law into an instrument of plunder.
“The Law” - Bastiat
That is democrat math for ya!
Democrats do what Democrats do. They’re hilarious!
Bring back the Obama Depression!
8 years of economic misery.
Does having a schlong also mean you might be a girl? Democrats also say yes. Sounds reasonable. Sure, I’ll take what they say seriously! LMAO!
When FDR did it, it collapsed the economy in 1936 just as the US was coming out of it.
How about we make them all the way dead, and see if that works?
The higher the taxes, the quicker the money leaves the economy and goes back into govt waiting to turn around and come back out as a govt contract, wages, or some other redistribution.
as such, the number of potential spending points is decreased. this results in reducing the variety of spending points... the number of businesses to spend money. this is why democrat policies result in businesses collapsing under their policies.
as a direct result, the remaining businesses tend to be those closest to the money when it comes back out of govt. govt contractors and their suppliers.
this also results in fewer products that can be sold to other countries, as many of the govt contractors are military subcontractors.
as a result, foreign capital flowing into the country is decreased... which is needed to pay off our ever increasing national debt.
Communism Fails.
Raising taxes Fails.
Always have always will.
Stubborn facts confuse Democraps.
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