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 ...
FU DemonRats...arrest the traitors.
Tax increases have never in history stimulated any economy.
The economy is already growing rapidly. If tax increases make the economy grow faster then there is the danger of the economy overheating and causing serious inflation! Hence, it is too far dangerous to have tax increases!
I’m working on my second million. I gave up on the first.
Shoot a man in the leg, and tell him to run faster.
Works every time.
There are just too many demoncrats (90% of them) who live under the influence of meth, and continue, for the 80th year, to preach the communist ideology...
Yes planning to open up 2 more business
Overseas
They just can not stand it when American citizens are doing well! These fool Democrats will destroy this economy f you give them the chance!
I think they mean speed it up after directing it towards a steep cliff leading to failure.
Since we're in the best economy since the end of WWII, no. Anyone advocating such a ninny idea should be dragged out and beaten to death with steel pipes. NY Slimes / Partisan Media Shills alert.
Democrats are so stupid, their presidential candidates actually have “My Idea is Stupider than Your Idea” contests all day long. And stupid democrat voters take them seriously. There is no help for these people.
Historically, tax increases bog down the economy. The democrats call for tax increases universally. That is all they know.
Democrats have never seen a tax they did not like. Tax increases have never sped up the economy in the past and yet they still think it can make the economy perform better. Einstein was accredited with the statement “ the definition if insanity is keep doing the same thing and expecting different results”
“I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.” - Churchill
Who knew it needed speeding up any more than Trump already has?
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