Laffer: 2011 'Tax' Collapse Coming

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Laffer: 2011 'Tax' Collapse Coming by avengador1

Started on	: 06-08-2010 03:55 PM
Replies	: 46
Last post by	: newf on 06-10-2010 10:19 PM

Pyrthian
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Report this Post06-10-2010 04:19 PM

quote

Originally posted by frontal lobe:
We ALWAYS said BIG peeps about the debt.

We just wanted the solution to be LESS SPENDING by the government.

Do you REALLY think that THIS congress, no matter how much taxes they get their hands on, aren't going to STILL SPEND more than they take in?

of course not. Carter was the ONLY administration in recent history to do such a silly thing.

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jstricker
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Report this Post06-10-2010 05:39 PM

Excuse ME?? Wishfuly thinking? Revisionist history?? There is only one valid reason for running a budget deficit and that is to finance a war. We haven't been financing a war with a deficit since Korea or before. We've been financing social programs and you've NEVER heard me say that was OK.

John Stricker

quote

Originally posted by Pyrthian:

yup.
maybe some of these "fiscal conservatives" should actually look at some truths, and not their emotions

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jstricker
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Report this Post06-10-2010 05:49 PM

Are you truly that ignorant?

Carter's Budgets were in deficit EVERY YEAR. On top of that, he had the BRILLIANT idea of instituting an oil "Windfall Profit Tax" knowing full well that it would reduce domestic oil production at the expense of a short term bump in tax revenues, and it did, reducing domestic oil production by as much as 8% at a time the country was dealing with gas lines and gas shortages. Yeah, Carter, now there's a great economic model. Let's go back to the "misery index"....................

John Stricker

quote

Originally posted by Pyrthian:

of course not. Carter was the ONLY administration in recent history to do such a silly thing.

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ray b
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Report this Post06-10-2010 06:18 PM

quote

Originally posted by frontal lobe:

We ALWAYS said BIG peeps about the debt.

We just wanted the solution to be LESS SPENDING by the government.

Do you REALLY think that THIS congress, no matter how much taxes they get their hands on, aren't going to STILL SPEND more than they take in?

your peeps were always about how VOODOO was going to fix the debts
and every budget under raygun bush1 and BuSh2 was written in RED INK
and only now is it a big deal???

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jstricker
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Report this Post06-10-2010 06:41 PM

No, Ray, it was a big deal then. It was a big deal under GW Bush. The only time in recent history the budget was semi balanced was under Clinton (good for him) and was with a REPUBLICAN CONGRESS. You know, those guys charged under the Constitution with taking care of the finances of the United States Government?? You do know it's THEIR responsibility and not the President's, right?

John Stricker

quote

Originally posted by ray b:

your peeps were always about how VOODOO was going to fix the debts
and every budget under raygun bush1 and BuSh2 was written in RED INK
and only now is it a big deal???

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Wichita
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Report this Post06-10-2010 08:42 PM

quote

Spending and budgets are done by the Congress. A Republican Congress is the only time in modetate times there was a balance budget. There has never been a balance budget or surplus with a Democrat Congress.

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newf
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Report this Post06-10-2010 10:19 PM

quote

Originally posted by jstricker:

That's right, but if we QUIT ADDING TO IT over time, it will be reduced and eventually paid off. If we keep adding to it it will never be paid off.

John Stricker

Reduced and paid off how? I assume there is interest accumulating on that debt too. The U.S. has to raise taxes sometime soon to attempt to get a handle on things IMO. Unfortunately it's political suicide to do, so there is little will to do it.

Having said that I do get the point about reducing the size of Government.

[This message has been edited by newf (edited 06-10-2010).]

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