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| quote: | Originally posted by tupsox
Your wording is vague here...does wealth belong to the people who create it, or do you mean that wealth belongs to "the people" as some sort of collective? If the latter, you're proving Shakka's point. If the former, then why do you want to tax people and redistribute the wealth they created? |
My wording is vague because admittedly the details of economics are not my forte. However, no I do not believe in a Borg-like socialist collective of money for everyone, at least not to the extreme. However, taxes are most certainly a necessity in our society for a wide range of needs from highways, education, social security, military, healthcare, etc., and history has demonstrated these benefits as a whole.
For the most part, our progressive income tax system is effective, and I agree with the system as a whole.
| quote: | | Generally (very generally) you'd want to lower taxes in an economic downtown to stimulate recovery (as the Bush cuts did), and you want to raise taxes to slow the economy down if its doing too well in order to avoid inflation. Raising taxes during an economic downtown will further blunt investment and growth: less jobs, and paradoxically, less tax revenue. |
I agree with your 1st premise, however I disagree with the details of the tax cut. More money should have been distributed to the middle class, which again history has shown a strong middle class benefits our country's economy. However, this was not the case for Bush's tax cuts, which the majority of cuts benefitted the affluent.
Now before you state, "Well, it's their money, isn't it?", I agree with you. However, this does not benefit a recovery situation unless you distribute the money, unevenly if necessary, toward those that spend their money which ultimately lifts up the economy, which is the middle class.
I disagree with your second premise of raising taxes, because you state that we are in an economic downturn. Unless you are disagreeing with Bush, who states we are recovering and are on an upswing, you'll have to expound further on how we are still in a downturn (although some libs might actually agree with you there).
Furthermore, the taxes have contributed heavily towards our deficit, which even the most staunch conservatives can't disagree on now that the figures are well known. So raising taxes now will also benefit our federal revenue and thus start lowering our deficit.
Bottom line: Bush's tax cuts did help stimulate our economy to a certain degree, but he must understand that the deficit (you know, all that fucking money we keep borrowing?) is going to be a major burden on our economic future sooner or later. Combine this with the necessity for the Fed to avoid long-term interest rates to rise to the roof, we need to raise taxes now.
Reagan was wise to listen to my ex-Senator, Bob Dole, on this matter after his major tax cut in '81. Why can't our President understand this basic concept as well?
| quote: | | If your solution to a recession is to at least make sure everyone is suffering at the same mediocre level, you'll find it very hard to ever grow the economy out. |
It would do you more credit not to paint every liberal you see with a broad extremist brush like this. I'm not sure if it's a result of a misunderstanding on your part of what I said, or a need for clarification on my part of my stance, but this Limbaugh tactic of rounding all individuals who disagree with Bush's policies (economic, foreign, etc.) into one corner is becoming rather repetitive.
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Whence September dusk grows crisper still,
with leaves all crimson conquered,
I yearn to shout,
and dance about,
and stick pickles in my honker...
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