Soaking the rich doesn’t work

[piece-itpete]

This is one putz who believes all cannot be made right by tax & spend.

Pete

[finnbow]

Originally Posted by piece-itpete

This is one putz who believes all cannot be made right by tax & spend.

Pete

While I don't disagree, it's better than increasing spending while decreasing taxes, a Republican specialty.

[whell]

Originally Posted by finnbow

For the GOP, the sweet spot is always below what it currently is, even though the current rate is less than it was under St. Ronnie, peace be upon him.

Yeah, the left likes to keep pointing this out. It's an analogy that lacks context though. The only way the analogy works is if we also bring back Carter era run away inflation and double digit interest rates, and push the unemployment rate back up above 8%.

Raising the cost of converting capital and increasing the disincentives to take the risk of opening / expanding businesses just might get us there. Where's my Gerry Ford WIN button?

[finnbow]

Originally Posted by whell

Yeah, the left likes to keep pointing this out. It's an analogy that lacks context though. The only way the analogy works is if we also bring back Carter era run away inflation and double digit interest rates, and push the unemployment rate back up above 8%.

What it does show is that the sweet spot on the Laffer Curve (an article of faith in the GOP), is at least as high as St. Ronnie's highest marginal rate (i.e., revenues will go up if we raise the top marginal rate to 39.6, not down).

[merrylander]

Originally Posted by whell

Raising the cost of converting capital and increasing the disincentives to take the risk of opening / expanding businesses just might get us there. Where's my Gerry Ford WIN button?

Some example of the 1% actually starting a new business please?

[piece-itpete]

When the GOP tries to rein in spending, the left pitches a fit and lets the government shut down instead.

I do agree, a politician never met a dollar he didn't like. But the time of reckoning is coming.

Pete

[BlueStreak]

Originally Posted by piece-itpete

When the GOP tries to rein in spending, the left pitches a fit and lets the government shut down instead.

I do agree, a politician never met a dollar he didn't like. But the time of reckoning is coming.

Pete

Except they seem to be highly selective at cost cutting and they usually seek to cut it from where it's needed the most in the name of putting it where it isn't needed at all.

Dave

[whell]

Originally Posted by merrylander

Some example of the 1% actually starting a new business please?

You need to get out more. For example, where do you think some of the money comes from to fund start ups, or to fund rapid expansion of existing firms?

http://www.forbes.com/sites/alexkonr...nture-capital/

[Tom Joad]

Originally Posted by whell

Yeah, the left likes to keep pointing this out. It's an analogy that lacks context though. The only way the analogy works is if we also bring back Carter era run away inflation and double digit interest rates, and push the unemployment rate back up above 8%.

Raising the cost of converting capital and increasing the disincentives to take the risk of opening / expanding businesses just might get us there. Where's my Gerry Ford WIN button?

Right, because the economy really sucked back in the 1950's when the top bracket was 90%.

[donquixote99]

I would argue that under-taxation leads to over-investment, as a casino mentality goes wild. Remember right before the last crash, when housing developments were mushrooming, and big retail boxes were sprouting up every mile in the 'hot' suburbs?

Wannabe 1-percenters looking for the big score. I say taking away some of the incentive for THAT leads to sounder investment.