Posted on 09/15/2010 10:47:58 AM PDT by fightinJAG
Edited on 09/15/2010 10:52:44 AM PDT by Admin Moderator. [history]
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.
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 cnbc.com ...
Um, double dip in housing prices already underway.
Do like the rest of us you nut-job.........live within your means and quit spending.
Nope, not buying it.
I’d reluctantly agree to a short term tax increases IF we’d 1) eliminate the department of education, 2) eliminate ALL foreign aid - except for Israel, and 3) promise to NEVER augment ANY state pension that’s underwater.
RE: Taxes Must Rise to Fight Budget Deficit: Greenspan
SPENDING MUST FALL TO FIGHT BUDGET DEFICIT: Yours Truly
Greenspan. Rove. Kissenger.
Be gone.
Be gone.
Be gone.
Greenspan is a senile, demented old fool. Raising tax rates will do nothing for reducing the deficit because it will not produce higher government revenues. After the tax rate cuts by Reagan and W, government revenues increased. It takes higher revenues not higher taxes.
Also, the more immediate way to reduce the deficit is to attack the other part of the equation and cut spending.
No higher taxes until the Democrats are out of power. Even if the Republicans raise taxes, the money must go to pay the deficit down and nothing else. I don’t think people would mind if the money would be used for the deficit and spending would be cut 50%.
Just Saying
Senility is a terrible thing to waste...
The problem isn’t that taxes are too low, it’s that spending is grossly too large.
STOP SPENDING!
STOP SPENDING!
STOP SPENDING!
....oh, here comes more spending bills. :(:(:(
Another moron. All those years I thought he knew better...
Revenue does not increase with tax increases except on paper in a static economy model.
imho... President Ronald Reagan proved Greenspan wrong.
I'll take President Reagan's ideas over a liberal's,
increase taxes rhetoric anytime. Cut spending - when the
money rolls in from tax cuts, as President Reagan desired.
sigh... liberals never understand!
Obviously, take more private money to allow more private investment. LOL!
STFU, Greenspan.
Plus, he’s married to Andrea Mitchell.
"No, you don't have to raise our taxes to pay for spending that we didn't ask for! You have some nerve to spend trillions of dollars on shit we told you we didn't want and then come back to us to pay the bill.
Go f**k yourself, we're bringing in new leadership."
Yes, I know this was Greenspan, but I still want to say that to a liberal pol someday.
Reagan may have “desired” to cut spending but he failed to use his veto pen to do so. The same was true when he was governor of California.
I have an even better idea: STOP SPENDING!!! STOP SPENDING!!! STOP SPENDING!!!
AAARRRGGGHHH!!! How freaking hard is it to understand?!?!?!
Hey Alan!
Federal Receipts need to rise!
NOT TAXES!
Federal tax receipts in 2007, set an ALL TIME RECORD UNDER THE CURRENT TAX LEVELS!!!!
Lower taxes inspire innovation and expansion, resulting in a BROADER TAX BASE!!!!!
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