Comments on: Fanatics

By: HB

HB — Thu, 11 Aug 2005 18:09:49 +0000

I don’t give Clinton all the credit, eventhough there was a greater commitment to econoic responsibility back than.

back in the 80’s they also raised the payroll tax, so what’s the point of income tax cuts? *cough* hand outs *cough*

By: thomas

thomas — Thu, 11 Aug 2005 17:55:31 +0000

um, yeah, what michael said.

By: thomas

thomas — Thu, 11 Aug 2005 17:53:08 +0000

actually, HB, what they did in the 90s that they arent doing now was limit spending. do you think prosperity in that period was due to Clinton? remember all money is doled out by the House.

during the Reagan years, massive debt piled up despite all-time high tax revenues (and very low tax rates) due to congressional spending of a democratic majority.

By: Michael C. Mikulis

Michael C. Mikulis — Thu, 11 Aug 2005 17:49:59 +0000

The reason we don’t cut taxes to zero is that despite the fact that the economy would be booming, government revenues would have to be obtained from somewhere else. There in fact have been some serious proposals recently to completely eliminate the income tax and replace it with a national sales tax.

If we raise taxes then the economy will not do as well and we will get less revenues from taxes. The easiest way to pay off the debt would be to hold spending increases to only three times the rate of inflation.

I previously stated “In general the economy is doing better than it was in 1996 (but not 1998 and 1999), and all of this with a very low inflation rate.”

As far as spending goes, I’m disgusted that Congress has no self control and Bush has not done nearly enough to keep them in line. However, the Democrats have been attacking Bush for not spending enough!

As for the late 90s, capital gains taxes were cut. The economy did well since the federal government mostly left it alone, and Greenspan manipulated the interest rates. Probably the smartest thing Clinton did was not firing Greenspan.

By: HB

HB — Thu, 11 Aug 2005 16:58:10 +0000

You just proved my point right there. Common sense is something you don’t use. If tax cuts are always a great thing than why don’t we cut taxes ALL to zero? Have you ever heard contractionary and expansionary fiscal policy?

Well if things are indeed going this amazingly great than it mean that we really can raise taxes and no longer be in debt.

Being a hack, of course, you really don’t want to admit that things were indeed good in the late 90’s. This same party taht you give credit to giving us a good economy is spending like there is no tomorrow, President and all. What is it that they have done in the 90’s that worked so damn well? They didn’t cut taxes.

By: Michael C. Mikulis

Michael C. Mikulis — Thu, 11 Aug 2005 00:13:09 +0000

The overwhelming majority of liberal and socialist economists say that tax cuts stimulate the economy and tax hikes hurt it. The reason why the deficit will be shrinking next year is that like in the 1980s, tax revenues in the United States has actually increased. In Europe for instance, Ireland now has one of the largest standards of living since they cut their tax rates in half (which ended up doubling tax revenues). Previously, Ireland was one of the poorest.

As for Clinton, his tax hikes damaged the economy. His luxury tax increases for instance reduced government revenues and increased unemployment (since much fewer luxury goods were being produced due to the dramatic drop in demand when the prices were increased). Actually, it wasn’t until after the Republicans took over Congress that the economy starting doing very well.

By: HB

HB — Wed, 10 Aug 2005 22:31:06 +0000

We need to raise taxes back, so that we can start living with our means (at least make a show that our bonds are still good. A bond is a promise; the big boy spender club must learn to keep that promise). The top 2% of the population are not struggling under the burden of taxes. This is an age of sacrifice so I’m sure the millionaires and billionaires can cut the nation (that allowed them to be rich in the first place) a little more of their pie. We are at war! It is not cheap!

Taxes were raised under Clinton and it spurred one of the greatest expansions in the recent history. This knee jerk reaction to tax cuts being the greatest thing ever is nothing more than party hackery.