Arguing that government spending is stimulative is non-sense. Government only decides where money is to be spent. It doesn't produce wealth at all, it simply dictates where it is to be wasted or consumed.
To actually grow the economy, it is necessary to save and invest in the means of production. Common sense (the thing Mr. Bartlett would have you abandon) says wealthy people are better savers and investors. Taking their savings and decreasing their investments can increase consumption (stimulation) in the short run, but it decreases production in the long run. Bartlett is arguing for a prescription for progressive impoverishment. His initials should be changed from BB to BS.
Bruce Bartlett didn’t recently join anything! He’s been on board for quite some time!
http://www.youtube.com/watch_popup?v=JY8LKII_MNA&feature=youtube_gdata_player
Taxes should NOT be raised on anyone, rich or poor, until the government gets its fiscal house in order. Too much wasteful spending, too much money is unaccounted for, too much pork spending, and government agencies growing and spending without oversight.
“To actually grow the economy, it is necessary to save and invest in the means of production. Common sense (the thing Mr. Bartlett would have you abandon) says wealthy people are better savers and investors. Taking their savings and decreasing their investments can increase consumption (stimulation) in the short run, but it decreases production in the long run. Bartlett is arguing for a prescription for progressive impoverishment.”
It is worth repeating.
“To actually grow the economy, it is necessary to save and invest in the means of production. Common sense (the thing Mr. Bartlett would have you abandon) says wealthy people are better savers and investors. Taking their savings and decreasing their investments can increase consumption (stimulation) in the short run, but it decreases production in the long run. Bartlett is arguing for a prescription for progressive impoverishment.”
It is worth repeating.
The house is on fire. Tax increases of any kind are more fuel. When the house is burning, throwing in fuel is not balanced.
Only spending cuts will reduce the flames. A balanced approach is to cut spending everywhere.
“Careful studies by the Congressional Budget Office ...”
Like asking Dracula to study the benefits of blood-letting...
Government spending and borrowing is paid for by the children-
what kind of society thinks it “compassionate” to charge children for their food?
CUT the pay of federal workers.
If a blue collar worker can pay a set percentage of their 5 digit income to taxes. Then a white collar worker can pay the same percentage on their 7 digit income.
Since the GOP appears to lack any stomach for real spending cuts, I’m afraid that’s where we are headed.
A VAT and a Tobin Tax are my predictions.
I always thought raising taxes on the wealthy was a folly. But, seeing as how rich liberals seem to be pushing it and seeing as how the same rich lib’s control the media and rich Repub’s dont seem to be doing anything about it except for Rupert Murdoch maybe they deserve to pay more. Maybe that will wake up our 1% since they only seem to be concerened about thier own tax loopholes.
A permanent tax on a **temporary** payroll tax cut.
How’s that for progressive logic?.