Alan Greenspan backs higher taxes, less government spending (dollars, financial, billion) - Politics and Other Controversies -Democrats, Republicans, Libertarians, Conservatives, Liberals, Third Parties, Left-Wing, Right-Wing, Congress, President - City-Data Forum

AnUnidentifiedMale · 09-15-2010, 07:53 PM

Quote:

"I am in favor for the first time in my memory of raising taxes," he said. He had previously called for the George W. Bush tax cuts to expire at the end of this year, which would raise taxes for most Americans. But keeping the cuts in place would add hundreds of billions of dollars to the national deficit, he told the Council on Foreign Relations audience.

Kiplinger.com

He's right. It's the responsible thing to do.

lifelongMOgal · 09-15-2010, 07:58 PM

Didn't Greenspan help get us into this mess? Weren't the liberals screaming about Greenspans policies when he was head of the FED under Bush? Now suddenly because he wants those middle class people who may, along with their business, earn up to $250K (for a family), he is right?

Flip flop much libs?

AnUnidentifiedMale · 09-15-2010, 08:02 PM

Quote:

Originally Posted by lifelongMOgal

Didn't Greenspan help get us into this mess? Weren't the liberals screaming about Greenspans policies when he was head of the FED under Bush? Now suddenly because he wants those middle class people who may, along with their business, earn up to $250K (for a family), he is right?

Flip flop much libs?

Well, it sounds like you're addressing me personally, so I'll respond: It's not a flip-flop. It's an agreement with this particular opinion of his. I don't follow in lockstep with anyone 100% of the time, nor do I oppose anyone 100% of the time. Try it sometime.

summers73 · 09-15-2010, 08:07 PM

Anything Greenspan recommends, just do the opposite to maximize success. This theory works for Paul Krugman and Jim Cramer advice as well.

HappyTexan · 09-15-2010, 08:09 PM

Greenspan is in a fine place to talk NOW..after the fact. He's still denying he had anything to do with this..isn't he ?

marcopolo · 09-15-2010, 08:09 PM

Quote:

Originally Posted by summers73

Anything Greenspan recommends, just do the opposite to maximize success. This theory works for Paul Krugman and Jim Cramer advice as well.

Greenspan thought derivatives reduced risk in the financial system, too.

chiaroscuro · 09-15-2010, 08:11 PM

Though I agree generally with more taxes and less spending to solve the deficit, Greenspan is a loon. Greenspan = BUBBLE.