[QUOTE="imaps3fanboy"][QUOTE="SpartanMSU"]Raising the marginal tax rate for the highest bracket is of the utmost importance. We need to raise the capital gains tax as well. Raising taxes is the "utmost important" no wonder why we're in a bad situation and getting even worse lol We need more revenue. It's a fact. Raising taxes on the wealthy is the least painful way to do so. The situation is actually not getting worse. We haven't been in an actual recession since 2009He implied that tax increases on "the 1 %" would be beneficial, yet earlier claims that tax increases and spending cuts are detrimental.
cslayer211
imaps3fanboy's forum posts
It's called deficit spending. Counter-cyclical economics works. Spain and Greece tried austerity cuts, which is a pro-cyclical method, and it doesn't work.[QUOTE="imaps3fanboy"][QUOTE="SpartanMSU"]
Keynesians advocate tax cuts and increases in spending during harsh economic times. He is contradicting himself. How can he not be?
SpartanMSU
Increasing taxes is an austerity measure, which was my point...
Sort of, depends who the taxes fall on though, plus the U.S isn't really raising the taxes, the old tax rates are just expired. Those rates were put in place ONLY because Bush thought we would have a surplus for the distant future. He was wrong, and it cost us 5 trillion $$[QUOTE="nocoolnamejim"]Bush Administration partially contributing to the economic collapse? coolbeans90
Whoa, buddy, hold up. The consequential pieces were set in motion long, long before, primarily by Reagan and Clinton W.R.T. deregulation - the rest was, mostly, riding the status quo.
Greenspan also admitted to causing the housing crisis as well.[QUOTE="imaps3fanboy"]The U.S is a consumer economy that runs on middle class and lower class spending. Without it, the economy collapses.Jebus213
SPEND SPEND SPEND SPEND!!!!!
This spending culture needs to die. I hope an economic collaspe does come.
Why would you hope for something like that? Are you a fan of people losing their jobs and general misery during a crisis?The more money you have, the more you save. People with less money tend to spend more, relatively. A slight increase in taxes for the higher income folks gives the government more money to spend. If taxes increased for everyone then everyone would spend less (Remember that 1% of my money is a lot more for me than 1% of Bill Gate's money is for him.)[QUOTE="harashawn"][QUOTE="SpartanMSU"]
He implied that tax increases on "the 1 %" would be beneficial, yet earlier claims that tax increases and spending cuts are detrimental.
SpartanMSU
Keynesians advocate tax cuts and increases in spending during harsh economic times. He is contradicting himself. How can he not be?
It's called deficit spending. Counter-cyclical economics works. Spain and Greece tried austerity cuts, which is a pro-cyclical method, and it doesn't work.The more money you have, the more you save. People with less money tend to spend more, relatively. A slight increase in taxes for the higher income folks gives the government more money to spend. If taxes increased for everyone then everyone would spend less (Remember that 1% of my money is a lot more for me than 1% of Bill Gate's money is for him.)[QUOTE="harashawn"][QUOTE="SpartanMSU"]
He implied that tax increases on "the 1 %" would be beneficial, yet earlier claims that tax increases and spending cuts are detrimental.
hartsickdiscipl
Tell that to professional athletes who make $10 million a year and then end up broke 3 years after they retire. I think they spend a lot, relatively.
That's because they don't know how to handle their money. You think warren buffet goes out of his way to spend his billions? No. He saves it. It's pretty simple. The U.S is a consumer economy that runs on middle class and lower class spending. Without it, the economy collapses. Therefore we need to stimulate as much spending as possible (as long as it's sustainable.) Making the middle class pay higher tax rates than a lot of investors is ridiculous.[QUOTE="Stesilaus"]
[QUOTE="SpartanMSU"]
Wait, I don't get it. He states tax increases are bad, yet then advocates tax increases later in his article.
SpartanMSU
I didn't read it that way.
He just advocates a tax policy that rewards corporations that focus on employing domestic workers.
He implied that tax increases on "the 1 %" would be beneficial, yet earlier claims that tax increases and spending cuts are detrimental.
Raising the marginal tax rate for the highest bracket is of the utmost importance. We need to raise the capital gains tax as well.
Log in to comment