Tax cut observation ........

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  • L-Pink
    working on my tan
    • Mar 2005
    • 39151
    #1

    Tax cut observation ........

    Ever notice the first step when the economy stumbles is a tax cut to stimulate the economy?

    Following this logic always brings the question ... Why in the hell aren't we always looking for ways to DECREASE government spending instead of constant new programs, entitlements, aid packages, etc ?
    Tags: None
    • killermule
      Registered User
      • Jan 2008
      • 79
      #2
      Because youve had bush as a president.
      ICQ: 377-213-339

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        • ADL Colin
          Too lazy to set a custom title
          • Feb 2001
          • 11929
          #3
          The idea of cutting taxes during a recession was popularized by John Maynard Keynes after his study of what went wrong during the Great Depression. He also advocated INCREASING government spending during a recession (increasing effective demand). Either way more money gets into the consumer's hands. Check out "The General Theory of Employment Interest and Money".

          If you are interested in the opposing view check out the Austrian School of Economics (Mises, Hayek).

          Both sides have their logic.


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            • spunkmaster
              Confirmed User
              • Jan 2004
              • 2052
              #4
              Originally posted by L-Pink
              Ever notice the first step when the economy stumbles is a tax cut to stimulate the economy?

              Following this logic always brings the question ... Why in the hell aren't we always looking for ways to DECREASE government spending instead of constant new programs, entitlements, aid packages, etc ?
              The real reason is because 90% of the spending is mandated by law.

              That's right we're a welfare state now !

              The reason tax cuts help the economy is they get spent and taxed several times if given to the consumers to spend. When the Gov't spends the money it gets spent once and most isn't taxed again.
              Last edited by spunkmaster; 01-22-2008, 07:28 PM.

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                • Snake Doctor
                  I'm Lenny2 Bitch
                  • Mar 2001
                  • 13449
                  #5
                  Originally posted by ADL Colin
                  The idea of cutting taxes during a recession was popularized by John Maynard Keynes after his study of what went wrong during the Great Depression. He also advocated INCREASING government spending during a recession (increasing effective demand). Either way more money gets into the consumer's hands. Check out "The General Theory of Employment Interest and Money".

                  If you are interested in the opposing view check out the Austrian School of Economics (Mises, Hayek).

                  Both sides have their logic.
                  What he said.

                  Only republicans talk about cutting taxes to boost economic growth.
                  Don't confuse using tax rebates as a short term stimulus with "cutting taxes" to "boost growth"
                  sig too big

                    Comment

                    • pocketkangaroo
                      Confirmed User
                      • Jan 2005
                      • 8452
                      #6
                      Originally posted by spunkmaster
                      The real reason is because 90% of the spending is mandated by law.

                      That's right we're a welfare state now !

                      The reason tax cuts help the economy is they get spent and taxed several times if given to the consumers to spend. When the Gov't spends the money it gets spent once and most isn't taxed again.
                      1% of the federal budget goes to welfare.

                        Comment

                        • L-Pink
                          working on my tan
                          • Mar 2005
                          • 39151
                          #7
                          Originally posted by ADL Colin
                          The idea of cutting taxes during a recession was popularized by John Maynard Keynes after his study of what went wrong during the Great Depression. He also advocated INCREASING government spending during a recession (increasing effective demand). Either way more money gets into the consumer's hands. Check out "The General Theory of Employment Interest and Money".

                          If you are interested in the opposing view check out the Austrian School of Economics (Mises, Hayek).

                          Both sides have their logic.
                          thanks for the info .......

                            Comment

                            • woj
                              <&(©¿©)&>
                              • Jul 2002
                              • 47880
                              #8
                              Originally posted by pocketkangaroo
                              1% of the federal budget goes to welfare.
                              1% too much
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                                • woj
                                  <&(©¿©)&>
                                  • Jul 2002
                                  • 47880
                                  #9
                                  Originally posted by pocketkangaroo
                                  1&#37; of the federal budget goes to welfare.
                                  and I'm not sure your 1% claim is accurate:

                                  "The cost of these programs has increased from 0.8% of GDP in 1962 (before Medicaid) to 2.7% of GDP in 2006, or by 1.9% of GDP. If we exclude Medicaid, health care for children and veterans pensions it is 0.89 % of GDP, or $117 billion. (The numbers for the excluded items are found in Table 8.5, page 142). This represents approximately 7.5% of total non-Social Security receipts to the Federal Government."

                                  http://polecolaw.newsvine.com/_news/...s-welfare-cost
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                                    • After Shock Media
                                      It's coming look busy
                                      • Mar 2001
                                      • 35299
                                      #10
                                      Do not worry the average citizen has been brainwashed and actually thinks that getting a tax refund at the end of the year is also a great thing too.

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                                        • ADL Colin
                                          Too lazy to set a custom title
                                          • Feb 2001
                                          • 11929
                                          #11
                                          Originally posted by Snake Doctor
                                          What he said.

                                          Only republicans talk about cutting taxes to boost economic growth.
                                          Democrats often advocate a middle class tax cut as a stimulus.

                                          EXAMPLE
                                          "Four months ago I said it was time to put a middle-class tax cut worth $1000 per family into the pockets of workers who deserve it," Obama said. "A tax cut that would eliminate income taxes for seniors who make under $50,000. We can’t wait for the next president to act. We need that middle-class tax cut now more than ever – not five months from now or five weeks from now, but now."


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                                            • ADL Colin
                                              Too lazy to set a custom title
                                              • Feb 2001
                                              • 11929
                                              #12
                                              Originally posted by After Shock Media
                                              Do not worry the average citizen has been brainwashed and actually thinks that getting a tax refund at the end of the year is also a great thing too.
                                              Same people that think a 6% mortgage and 3% long-term home appreciation is a great investment. In reality, people just aren't very good at saving and their home eventually becomes their biggest net asset by default.


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