Quote:
Originally Posted by Prunepicker
Not true.
When Reagan convinced congress to cut taxes the economy sky rocketed. A certain party that ruled the House of Reps, where ALL spending is created, couldn't stand the thought that he was right. The pain of the Carter years were finally over. Everybody benefited. It was awful so the House created spending bills of the likes no one had seen and tried to blame everything on Reagan for the big spending party.
George Sr. could have continued the great economy but instead caved. Clinton did little to boost the economy. He continued the status quo of Bush Sr.'s cave. George W's cuts have been very positive. My meager middle class life has improved.
We need more tax cuts for everybody including the rich. After all they own businesses and hire musicians for their parties. A lot of less government would be nice, too.
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So the Fed printing up craploads of money at the start of the 1980s to try and reduce skyrocketing interest rates had nothing to do with it at all? It was all supply-side economics?
The ensuing debt run-up and runaway inflation of that decade, is that anything to be concerned about?
I get a little upset with blanket statements like 'cut taxes and all will be well.' The problems we face are much, much more complicated than the media cares to explore. Causality is much more complicated than A -> B.
In some circumstances I agree, tax cuts are beneficial. But right now that would be the absolute worst thing one could possibly due because it would increase our debt and effectively put more money in circulation. Remember supply and demand. If you increase the supply of dollars you will weaken its demand. That will cause the dollar to further devalue, and will cause things like the price of oil which we import to skyrocket further. This will lead to a chain reaction that continues to drive inflation up.
I'm sick to death of our modern political talking heads boiling everything down to good vs. evil or right vs. wrong. It is not that simple.