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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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 Posted: Fri Dec 02, 2011 4:24 am Post subject: |
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Voodoo economics has not worked. It has been a scam from the start. The only people who still believe in it are the people who start with the conclusion (neurotically wanting a smaller government) and working back to arrive at the path they wanted in the first place. It doesn't really have anything to do with managing the economy so as to produce a vibrant middle class. It has everything to do with forcing a radical political theory down the public's throat that serves the haves, not the rest of us.
Thirty years of ever-lower taxes and we end up in an economic mess. What is the solution? Even lower taxes.
There is a reason why more and more people think conservative economics are in service to the 1%. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Sun Dec 04, 2011 3:47 pm Post subject: |
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| Ya-ta Boy wrote: |
Voodoo economics has not worked. It has been a scam from the start. The only people who still believe in it are the people who start with the conclusion (neurotically wanting a smaller government) and working back to arrive at the path they wanted in the first place. It doesn't really have anything to do with managing the economy so as to produce a vibrant middle class. It has everything to do with forcing a radical political theory down the public's throat that serves the haves, not the rest of us.
Thirty years of ever-lower taxes and we end up in an economic mess. What is the solution? Even lower taxes.
There is a reason why more and more people think conservative economics are in service to the 1%. |
As pointed out above lower taxes are not the reason why America is in an economic mess. Unrestrained spending (as in overvalued acquisitions ...think AOL) and virtually free credit (banks and companies handing out credit cards and loans to people who were "high-risk" did far more damage to the economy than low taxes ever did. As also stated above there are a whole host of other issues that should be addressed as well ( I suggested a few things in my first post on this subject). |
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smee18
Joined: 24 Mar 2009
Location: Korea
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| Posted: Wed Dec 14, 2011 9:49 pm Post subject: |
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| Leon: You're trying to push water uphill with a rake debating the likes of Urbanmyth. In the words of Voltaire, �The earth swarms with people who are not worth talking to�. Or you might consider Schopenhauer's advice: �Whoever attaches a lot of value to the opinions of others pays them too much honor� ... �Would the musician feel flattered by the loud applause of his audience if it were known to him that, with the exception of one or two, it consisted entirely of deaf people?�. |
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bucheon bum
Joined: 16 Jan 2003
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| Posted: Thu Dec 15, 2011 6:20 am Post subject: |
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| TheUrbanMyth wrote: |
| Ya-ta Boy wrote: |
Voodoo economics has not worked. It has been a scam from the start. The only people who still believe in it are the people who start with the conclusion (neurotically wanting a smaller government) and working back to arrive at the path they wanted in the first place. It doesn't really have anything to do with managing the economy so as to produce a vibrant middle class. It has everything to do with forcing a radical political theory down the public's throat that serves the haves, not the rest of us.
Thirty years of ever-lower taxes and we end up in an economic mess. What is the solution? Even lower taxes.
There is a reason why more and more people think conservative economics are in service to the 1%. |
As pointed out above lower taxes are not the reason why America is in an economic mess. Unrestrained spending (as in overvalued acquisitions ...think AOL) and virtually free credit (banks and companies handing out credit cards and loans to people who were "high-risk" did far more damage to the economy than low taxes ever did. As also stated above there are a whole host of other issues that should be addressed as well ( I suggested a few things in my first post on this subject). |
Overvalued acquisitions didn't tank the economy. It isn't like Time Warner went bankrupt. If that was a cause of the economic mess, every country in the world every year would be in a fininancial mess. Just a part of doing business. No one is perfect.
Anyway, lower taxes ARE one reason why the US government finances are a mess. The previous President had the genius idea of cutting taxes significantly, then entering two wars (one 100% by choice) and passing a massively expensive entitlement into law. Consequence? Less money for the government now to spend on infrastructure, which does produce jobs, especially in a sector that was decimated by that easy credit (i.e. construction), and provide grants to universities and other higher learning institutions. |
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smee18
Joined: 24 Mar 2009
Location: Korea
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| Posted: Thu Dec 15, 2011 3:46 pm Post subject: |
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| TheUrbanMyth wrote: |
You have the top one percent paying more tax then the bottom 95%. They pay around 40% of all taxes which according to the link is the highest percentage in modern history. |
Anyone who would recycle this Fox news staple is a moral and intellectual midget not worth speaking to. Seriously, I'm pretty sure I learned that a smaller percentage of a larger number can be vastly greater than a larger percentage of a smaller number in about the 4th grade. |
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Steelrails
Joined: 12 Mar 2009
Location: Earth, Solar System
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| Posted: Thu Dec 15, 2011 4:06 pm Post subject: |
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| smee18 wrote: |
| TheUrbanMyth wrote: |
You have the top one percent paying more tax then the bottom 95%. They pay around 40% of all taxes which according to the link is the highest percentage in modern history. |
Anyone who would recycle this Fox news staple is a moral and intellectual midget not worth speaking to. Seriously, I'm pretty sure I learned that a smaller percentage of a larger number can be vastly greater than a larger percentage of a smaller number in about the 4th grade. |
Check your math again Descartes.
If you have 95 people, each making a 1-95 dollars according to their rank and getting taxed at a rate of 25% and you have the top 1% making 100,000 dollars and being taxed 40%, then the top 1% will be paying more in taxes.
I mean isn't it a tenet of the Occupy Movement that the top 1%'s income is wildly out of proportion? If so, that would imply that the gross tax revenue from them is wildly out of proportion too. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Thu Dec 15, 2011 4:51 pm Post subject: |
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| smee18 wrote: |
| TheUrbanMyth wrote: |
You have the top one percent paying more tax then the bottom 95%. They pay around 40% of all taxes which according to the link is the highest percentage in modern history. |
Anyone who would recycle this Fox news staple is a moral and intellectual midget not worth speaking to. Seriously, I'm pretty sure I learned that a smaller percentage of a larger number can be vastly greater than a larger percentage of a smaller number in about the 4th grade. |
First of all that is based on IRS data. The IRS would be the final authoritative word on the subject. And they say much the same.
http://www.taxfoundation.org/news/show/250.html
In 2008 they paid 38% and in 2009 36.7% both which are close to the 40%. And I did say "AROUND 40%" meaning close and not EXACTLY.
In fact the bottom 95% have only paid MORE tax as a percentage relative to the top 1% since 2008. However the top 5% still paid more at 58.7%
So the IRS data backs me up.
Secondly those insults you tossed in my general direction...yeah 4th grade was where I heard that kind of talk as well. |
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