Link for Barfo

[barfo]

Maybe the google generated one went away.

So your evidence is a statistic that is so impervious to change that only the great depression and WWII had any effect on it since 1820?
Well, if that's the criterion, then I guess we don't really have to worry about anything... it's all gonna be just fine.

barfo

 

[Denny Crane]

 

[BLAZER PROPHET]

And the cheerleaders come out for smooches.

barfo

Naturally.

Q. Why did they have to put artificial turf down at Reeser stadium?

A. To keep the cheerleaders from grazing.

 

[Denny Crane]

The only hits I see against GDP is when the Democrats took over congress.

 

[barfo]

There's a graph for you. Where's the "hit" you claim we took from cutting taxes?

Clinton: 22.7 million jobs created
Bush: 1.1 million jobs created

Clinton: 21% increase in wages
Bush: 2% increase in wages

Clinton: surplus
Bush: gigantic deficit

Yeah, those tax cuts were really successful.

barfo

 

[Denny Crane]

Clinton: 22.7 million jobs created
Bush: 1.1 million jobs created

Clinton: 21% increase in wages
Bush: 2% increase in wages

Clinton: surplus
Bush: gigantic deficit

Yeah, those tax cuts were really successful.

barfo

Bush isn't a conservative, nor fiscally responsible.

You might want to consider, though, how many jobs were created during the Bush years through when the Democrats took over congress. You might find the number is on the order of 8M. Or what was the deficit the year Democrats took over congress? You might find the number is on the order of $400B.

$0 is better than $400B, but $400B is better than $1.5T and no way to ever pay it down.

 

[barfo]

Bush isn't a conservative, nor fiscally responsible.

Did I suggest he was either of those things?

He did, however, cut taxes, which as I understand it from reading S2, inevitably creates strong economic growth and prosperity for all. Weird that it seems to have done the opposite in this case. It must be because he's one of those damned liberals.

barfo

 

[MARIS61]

The Bush Tax Cuts for the uber-wealthy expired on schedule as pre-determined by their creator, Bush.

Are you saying he was wrong in making his gift to fat-cats temporary?

 

[MARIS61]

BTW, can we merge this thread with the nearly identical one Denny started last week?

 

[MARIS61]

Bush isn't a conservative, nor fiscally responsible.

You might want to consider, though, how many jobs were created during the Bush years through when the Democrats took over congress.

Starting wars is an old GOP trick to create a slew of quick, temporary jobs, but as usual it could not be sustained and profiteering by Haliburton led to the ultimate collapse.

 

[maxiep]

Search "Hauser's Law". In the end, raising tax rates does nothing. Raise GDP and the tax revenue will follow.

 

[barfo]

Search "Hauser's Law". In the end, raising tax rates does nothing. Raise GDP and the tax revenue will follow.

That's fine. So we have evidence that raising tax rates does nothing, and lowering tax rates does nothing. Hey! Maybe tax rates aren't actually all that important!

Ya think?

barfo

 

[maxiep]

That's fine. So we have evidence that raising tax rates does nothing, and lowering tax rates does nothing. Hey! Maybe tax rates aren't actually all that important!

Ya think?

barfo

Oopsie, I think you may have missed the point. If you raise taxes, you shrink GDP; if you lower taxes, you increase GDP. If you want a massive increase in the GDP, you decrease tax rates. Ironically, it increases tax revenues; capital gains is a terrific example. Bottom line, if you wish to have less of an activity, tax it more. Tax rates matter.

If you don't feel like you pay enough in taxes, the IRS takes cash, checks, money orders and all major credit cards.

 

[MARIS61]

The Bush Tax Cuts for the uber-wealthy expired on schedule as pre-determined by their creator, Bush.

Are you saying he was wrong in making his gift to fat-cats temporary?

 

[MARIS61]

Search "Hauser's Law". In the end, raising tax rates does nothing. Raise GDP and the tax revenue will follow.

Taxes were not raised at all.

They were lowered temporarily, then restored back to the norm.

 

[MARIS61]

The graphs climb continuously and increasingly steeper, with a very minor blip or 2 in comparison.

Seems like that is exactly what you'd want from a graph, UNLESS YOU'RE A COMMIE!

 

[barfo]

Oopsie, I think you may have missed the point. If you raise taxes, you shrink GDP; if you lower taxes, you increase GDP. If you want a massive increase in the GDP, you decrease tax rates. Ironically, it increases tax revenues; capital gains is a terrific example. Bottom line, if you wish to have less of an activity, tax it more. Tax rates matter.

If you don't feel like you pay enough in taxes, the IRS takes cash, checks, money orders and all major credit cards.

Oopsie, I think you may have missed reality. We cut taxes under the Bush administration, and we did not see a massive increase in GDP.

barfo

 

[Denny Crane]

Oopsie, I think you may have missed reality. We cut taxes under the Bush administration, and we did not see a massive increase in GDP.

barfo

We had strong GDP growth until Pelosi became speaker, and that was in spite of 9/11 and a terrible effect that had on the transportation industry. And when Bush took office, GDP was shrinking (he inherited a recession).

 

[Denny Crane]

But I digress. Here's more good stuff from CBO:

More generally, persistent, large deficits that are not
related to economic slowdowns—like the deficits that
CBO projects for coming decades—have a number of
significant negative consequences. Therefore, the sooner
that policymakers agree on credible long-term changes to
government spending and revenues, and the sooner that
those changes are carried out without impeding the economic
recovery, the smaller will be the damage to the
economy from growing federal debt.

They list:

1) Crowding out of investment
2) Need for higher taxes or less govt. spending (though a combination works)
3) Reduced ability to respond to international problems

And a whole long section about the risk of financial crisis.

 

[Denny Crane]

And this part is particularly good:

In all three of those fiscal crises in other countries, sharp
increases in interest rates on government debt forced the
affected governments to make difficult choices. The U.S.
government would also face difficult choices if interest
rates on its debt spiked. For example, a 4-percentagepoint
across-the-board increase in interest rates would
raise federal interest payments next year by about
$100 billion relative to CBO’s baseline projection—a
jump of more than 40 percent. As longer-term debt
matured and was refinanced at such higher rates, the difference
in the annual interest burden would mount; by
2015, if such higher-than-anticipated rates persisted, net
interest would be nearly double the roughly $460 billion
that CBO currently projects for that year.11 Moreover, if
debt grew over time relative to GDP, the effect of a spike
in interest rates would become increasingly pronounced.

 

[BLAZER PROPHET]

Oopsie, I think you may have missed the point. If you raise taxes, you shrink GDP; if you lower taxes, you increase GDP. If you want a massive increase in the GDP, you decrease tax rates. Ironically, it increases tax revenues; capital gains is a terrific example. Bottom line, if you wish to have less of an activity, tax it more. Tax rates matter.

If you don't feel like you pay enough in taxes, the IRS takes cash, checks, money orders and all major credit cards.

Liberals do not believe in creating jobs or raising the GDP. Thy believe in raising taxes repeatedly until the government owns the people and ceases to be "of the people, by the people and for the people".

 

[Denny Crane]

Liberals do not believe in creating jobs or raising the GDP. Thy believe in raising taxes repeatedly until the government owns the people and ceases to be "of the people, by the people and for the people".

I must say that my eyes glaze over a bit when I see broad statements like that about "Liberals" or "Conservatives" or whoever. Though it really is tough to get barfo to admit what he believes.

 

[BLAZER PROPHET]

I must say that my eyes glaze over a bit when I see broad statements like that about "Liberals" or "Conservatives" or whoever. Though it really is tough to get barfo to admit what he believes.

Actually, I think barfo presents his beliefs well. However, when you asked him how high he'd like taxes he tapped danced so hard I thought me was Michael Jackson. Denny, you naughty boy!

 

[barfo]

Actually, I think barfo presents his beliefs well. However, when you asked him how high he'd like taxes he tapped danced so hard I thought me was Michael Jackson. Denny, you naughty boy!

Apparently you missed post #6, where I said I didn't know the answer to his question. Not sure how that qualifies as "tapped danced".

barfo

 

[barfo]

Though it really is tough to get barfo to admit what he believes.

Because I'm not a believer.

barfo