Actually, Bullwinkle, there is some truth there. Raise taxes too high, and revenues will fall. But drop them too low and revenues will fall as well. There is an optimum level that neither stifles enterprise nor fails to harness the successful for the common good, and that most efficiently raises revenue.
Unfortunately, politicians who speak of it in such pragmatic terms don’t whip crowds into frenzies and don’t get elected.
^ Yeah but even Laffer disavowed Reagan’s use of his work. Laffer never tried to pin where he thought we were on his scale. Heck he didn’t even put numbers on his curve.
And just why can’t we roll our Government Spending back to levels of just 2 years ago? Obama and Pelosi raised our spending by 25% over the past two years, and we somehow can’t afford a rollback of just 2%?
The major part of the spending increase is that the current administration is counting the cost of the wars in Afganistan and Iraq and the Bush administration didn’t, as if they were free.
Sure they did. The world economy did not collapse as it was predicted to if nothing was done. Lots of jobs saved. That’s success.
If you could find one serious economist or even politician who was opposed to the bailouts AT THE TIME, you’d have a point. Even McCain stopped his campaign to get the bailouts passed. It was a hugely successful attempt, despite the unfairness around the edges.
Here’s a thoughtful essay on it:
http://www.scrippsnews.com/node/60586
the major part of spending increase was to fatten the wallets of timmy’s buddies– toles wake up your brain you are asleep – jimathai you are half right obamacare will become the biggest strain on the economy – yes bail get success unemployment is only1% right?
^^^ Actually, the fact of the matter is that that is the Republican mission. It was stated by the Republicans and is on record. I NEVER wished Bush to fail, because I knew that wanting him to fail meant wanting the country to fail, as he is the leader of the country. Mitch McConnell has said, on record, that the GOP’s #1 priority is to make Obama fail. That literally means that they want the country to fail.
Doughfoot about 13 years ago
Actually, Bullwinkle, there is some truth there. Raise taxes too high, and revenues will fall. But drop them too low and revenues will fall as well. There is an optimum level that neither stifles enterprise nor fails to harness the successful for the common good, and that most efficiently raises revenue.
Unfortunately, politicians who speak of it in such pragmatic terms don’t whip crowds into frenzies and don’t get elected.
meetinthemiddle about 13 years ago
^ Yeah but even Laffer disavowed Reagan’s use of his work. Laffer never tried to pin where he thought we were on his scale. Heck he didn’t even put numbers on his curve.
parrotthead2009 about 13 years ago
And just why can’t we roll our Government Spending back to levels of just 2 years ago? Obama and Pelosi raised our spending by 25% over the past two years, and we somehow can’t afford a rollback of just 2%?
sjc14850 about 13 years ago
The major part of the spending increase is that the current administration is counting the cost of the wars in Afganistan and Iraq and the Bush administration didn’t, as if they were free.
mnsmkd about 13 years ago
^Agree, HarleyQ.
ARodney about 13 years ago
Sure they did. The world economy did not collapse as it was predicted to if nothing was done. Lots of jobs saved. That’s success.
If you could find one serious economist or even politician who was opposed to the bailouts AT THE TIME, you’d have a point. Even McCain stopped his campaign to get the bailouts passed. It was a hugely successful attempt, despite the unfairness around the edges.
Here’s a thoughtful essay on it: http://www.scrippsnews.com/node/60586
oneoldhat about 13 years ago
the major part of spending increase was to fatten the wallets of timmy’s buddies– toles wake up your brain you are asleep – jimathai you are half right obamacare will become the biggest strain on the economy – yes bail get success unemployment is only1% right?
Magnaut about 13 years ago
Obama’s mission is to make the country fail
WarBush about 13 years ago
^That’s the Neocon’s mission.
Jaedabee Premium Member about 13 years ago
^^^ Actually, the fact of the matter is that that is the Republican mission. It was stated by the Republicans and is on record. I NEVER wished Bush to fail, because I knew that wanting him to fail meant wanting the country to fail, as he is the leader of the country. Mitch McConnell has said, on record, that the GOP’s #1 priority is to make Obama fail. That literally means that they want the country to fail.
That is the fact of the matter. Undeniably.
pirate227 about 13 years ago
TP’ers are about to get a dose of reali-TEA.