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The 75% tax rate raised very little revenue*, but expressed very clearly the envy and hatred for the rich of many on the left.
*The Finance Ministry estimates the proceeds from the tax amounted to 260 million euros in its first year and 160 million in the second. That's broadly in line with expectations, but tiny compared with a budget deficit which had reached 84.7 billion euros by the end of October.
And, even though the left hates to admit it, outside of a relative handful of people who inherited their wealth, most rich people actually created value that others would voluntarily pay for.
Every balanced budget in our history has resulted in a national recession shortly after.
Because there are those who love to spend on unfunded programs which causes a budget crisis. The Revenue coming has to match your expense. Business 101. We are 18t in debt,
Thanks Democrats!
Ohio, Florida, Texas and Wisconsin is a good model of a balance budget with money to spare.
A right size Gov is a smart Gov. If you look at all of the Gov agencies one could cut those agencies and sub agencies in half. What a budget savings!
So a balanced budget not only smart but provides financial security to America. We control our future , not the Bank of China.:t hink:
Every balanced budget in our history has resulted in a national recession shortly after.
The sample size would be too small to draw any conclusions. We had a balanced budget in 1969 under Richard Nixon, and again the last several years under Bill Clinton. It is true that the economy was poor during the 1970's with stagflation, unemployment, and again in the early 2000's following the dot com crash.
So you've basically got two data points to work with. Not enough for any sort of conclusion.
Because there are those who love to spend on unfunded programs which causes a budget crisis. The Revenue coming has to match your expense. Business 101. We are 18t in debt,
Thanks Democrats!
Ohio, Florida, Texas and Wisconsin is a good model of a balance budget with money to spare.
A right size Gov is a smart Gov. If you look at all of the Gov agencies one could cut those agencies and sub agencies in half. What a budget savings!
So a balanced budget not only smart but provides financial security to America. We control our future , not the Bank of China.:t hink:
What nonsense. Thanks Democrats? Really? So we havent had any Republicans in charge during this time? Get real, its both parties. Heck, which party coined the phrase "deficits don't matter". Do you even know, or are you being purposefully ignorant?
A balanced budget is a bad idea as well....but a ALMOST balanced budget is great. We're a long ways from either, but getting better every year lately.
And you can of course prove that, and then prove that it was a balanced budget that directly led / caused the recession, of course.
Quote:
Originally Posted by wutitiz
The sample size would be too small to draw any conclusions. We had a balanced budget in 1969 under Richard Nixon, and again the last several years under Bill Clinton. It is true that the economy was poor during the 1970's with stagflation, unemployment, and again in the early 2000's following the dot com crash.
So you've basically got two data points to work with. Not enough for any sort of conclusion.
No. I was clear. Every balanced budget in Federal history has had a recession shortly after.
The vertical bars are recessions. Every time the federal debt growth is reduced, a recession follows.
Quote:
Originally Posted by GHOSTRIDER AZ
Because there are those who love to spend on unfunded programs which causes a budget crisis. The Revenue coming has to match your expense. Business 101. We are 18t in debt,
Thanks Democrats!
Ohio, Florida, Texas and Wisconsin is a good model of a balance budget with money to spare.
A right size Gov is a smart Gov. If you look at all of the Gov agencies one could cut those agencies and sub agencies in half. What a budget savings!
So a balanced budget not only smart but provides financial security to America. We control our future , not the Bank of China.:t hink:
You failed economics 101.
Ohio, Florida, Texas, and Wisconsin are monetarily non-sovereign. They don't issue currency.
They are also ****holes.
The United States is monetarily sovereign. It issues its own currency.
look at your own chart. There are only two areas of balanced budget. One at the very beginning (1969) and one in the late 1990's. You have only 2 data points to show that balanced budgets are followed by recessions.
look at your own chart. There are only two areas of balanced budget. One at the very beginning (1969) and one in the late 1990's. You have only 2 data points to show that balanced budgets are followed by recessions.
Are you moving the goal post?
This is not an opinion.
Balanced budgets cause recessions. They take money out of the economy. Look at the graph again. Every reduction in Federal debt held by the public has led to a recession bar.
GDP = Federal Spending + Private Sector Consumption and Investment + Net Exports
Public Debt = Private Sector Balance + Foreign Sector Balance
We know that for GDP to increase, there has to be an increase in Federal Spending. Private sector transactions are just money changing hands.
France is not monetarily sovereign. France basically has microeconomic limitations that we don't.
Another leech arguing for the money-printing Obama regime.
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Balance budgetsWorks
