Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
marmico wrote:The Reagan-era individual income tax changes, as a fedgov revenue raising tool relative to GDP, are unremarkable in the post-war historical record.
marmico wrote:Laffer Curve .... is individual income taxes (IIT).
marmico wrote:
1970-1979 IIT .....1980-1989 Laffer Curve IIT .....1990-1999 IIT ....
On a decadal basis .... nominal ITT ....
efarmer wrote:When the big banks received bail outs and sat on them, it did not exactly inspire a little fish like me to bust a move.
Revi wrote:it makes the most sense to hold up the present system until it goes down. They shouldn't try to tip the tax code...... It will sink the ship, in my opinion.
efarmer wrote:Most people think that the big bank bailout was the $700 billion that the treasury department used to save the banks during the crash in late 2008. But this is a long way from the truth because the bailout is still ongoing. The Special Inspector General for TARP summary of the bailout says that the total commitment of government is $16.8 trillion dollars with the $4.6 trillion already paid out as of 2015 tallies. This is the issue I had in mind questioning if the supply side or demand side tricks work as they have historically when they did, due to this amount of guaranteed, loaned, and spent money associated with the government rescue.
efarmer wrote:I agree Obamacare played it's part in hurting growth, the Obama admin deployed the thing in stages and deferred implementation of some parts in what seemed to be active managing it's economic hits to be covered by the growth that was forecast but did not manifest. Likewise a huge tax cut, similar to the bungled Reagan cut in 1981 could be just as damaging or more than Obamacare if the growth doesn't match the financial bet involved and it just drives more national debt for a short sugar high. Always expect and get a good post from you Plant, it beats head butts and mud fights hands down.
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