Isn't it a bit hypocritical to blast the President for increasing the debt when he was forced to extend the tax cuts?

Comments

• Actually, most economists agree that letting rich people keep more of their money does not stimulate the economy because all the rich people do is put the money into savings. That is why Regan-Era "trick down economics" has been discredited.

  • Report
  

  by Anna44 on January 27th, 2011

• My question had nothing to do with Bush's presidency or what he did or didn't do. It is about basic economics. By all means, cut all the taxes, who needs schools, police, firefighters, roads, bridges and other infrastructure.

  • Report
  

  by Anonymous on January 30th, 2011

• You don't get it. The more taxes we cut then the more people spend. The tax revenue is then reaquired on the back end, because there are taxes on the goods that have been bought. But, the person selling the goods or services also gets more money, which in turn gives them more spending power. They then buy more things, and thus leads to more tax money coming from what they buy. So we can then actually have MORE bridges, roads, schools, whatever you like. But keep the taxes higher, and no one spends. Thus leading to higher unemployment and jobs leaving the state or even country because it is too expensive to do business in that area.
  
  I am seeing it right now in my state.....Illinois. The "wonderful" governor, along with the Democratic House, just voted to raise our taxes. Think they will get more money? NO!! Businesses are leaving at an excelerated pace, and people are actually looking to move to neighboring states because of the rise in taxes.
  Here is just one example:
  http://www.news-gazette.com/news/business/economy/2011-01-19/jimmy-johns-founder-contemplates-moving-headquarters-out-illinois.h

  • Report
  

  by Tiger61 on February 4th, 2011

• Again, cutting taxes for the wealthy does not better the economy. The wealthy just increase their savings. They do not spend the extra cash.
  
  As for Illinois, would you prefer we end up like California or New Jersey? Hopelessly in debt, cutting police force, firing teachers and closing schools? Governor Quinn did what he had to do. It was a hard choice that he knew would be unpopular. It sucks, but I respect him for it.

  • Report
  

  by Anna44 on February 5th, 2011

• You respect him for lying? There is a reason we now call him Quinoccio
  
  And to be like CA and NJ is Exactly were he is taking us!!!!

  • Report
  

  by Tiger61 on February 5th, 2011

• John Maynard Keynes Quotes
  
  
  "Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone."
  
  The avoidance of taxes is the only intellectual pursuit that still carries any reward.
  
  The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
  
  It would not be foolish to contemplate the possibility of a far greater progress still.
  
  http://www.brainyquote.com/quotes/authors/j/john_maynard_keynes.html

  • Report
  

  by Anonymous on February 6th, 2011

• Well, I don't want to abolish capitalism. I want it to flourish! No socialism, that is what we need to go away.

  • Report
  

  by Tiger61 on February 6th, 2011

Comments

• Unless you personally make more than 250K then Obama did not want to raise your taxes. And even if you do make more than 250K, the increased tax rate would have only been applied to any earnings exceeding 250K. So... you would have gotten the low tax rate on the first 250K, and whatever over that you made would have been taxed at the 1999 rate.

  • Report
  

  by Anna44 on January 26th, 2011

• I don't have a problem with spending cuts as long as they are across the board. By paying less taxes now our children will have to pay more.

  • Report
  

  by Anonymous on January 30th, 2011

• The government is brainwashing us as we sit back and accept their manipulation.

  • Report
  

  by HEYTHERE on January 30th, 2011

Comments