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The financial industry got greedy. Smart and greedy are two separate things.
They are the ones who were set to be able to take advantage of the easy money. It was your position here. So now you are saying it was the greedy who were in best position to take advantage of the easy money?
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QE is monetary policy. You'll need to blame the republicans for not supporting a smart fiscal policy to accompany cheap money.
People need to learn how fiscal and monetary policy work together.
No, they all are to blame. All of them. Not that you don't know this.
Tax cuts do not pay for themselves. The Keynesian multiplier effect is quite minimal. Spending cuts do not have to exactly match tax cuts as there is a stimulating effect to tax cuts but spending cuts need to be at least 80 to 90% of the tax cuts.
In what world does the Keynesian multiplier effect apply to tax cuts?
If your income range is between $0 and $15,000, your tax rate on every dollar of income earned is 3.5%.
If your income range is between $15,001 and $30,000, your tax rate on every dollar of income earned is 6.25%.
If your income range is $30,001 and over, your tax rate on every dollar of income earned is 6.45%.
2012-2013, lawmakers in Kansas slashed personal income taxes because it would supposedly 'stimulate the economy'. Today Kansas now faces horrendous budget deficits and is struggling to repair roads, fund schools, and has slashed funding for research at universities. They should just write this saga into a novel entitled 'The GOP Economic Playbook: How to Ruin a State.'
According to the BLS current population survey (CPS), the unemployment rate for Kansas rose 0.1 percentage points in June 2016 to 3.8%. The state unemployment rate was 1.1 percentage points lower than the national rate for the month. The unemployment rate in Kansas peaked in July 2009 at 7.3% and is now 3.5 percentage points lower. From a post peak low of 3.7% in May 2016, the unemployment rate has now grown by 0.1 percentage points. You can also see Kansas unemployment compared to other states.
In proper English it looks like their economy is doing well. However you decided to substitute the condition of the state budget for the "economy". Thus the problem is it looks like the state representative don't know when they have blown their budget.
There is no such economic theory as trickle down as it goes against the basic principles of economics.
When businesses save money because they pay less taxes we the people see the money right away. In good times we get hired and promoted. More goods are made. In bad times we retain our jobs because the cost of training is high. R and D, which is usually the first to go, does not get shut down, so jobs are saved.
There is a economic theory; its called the Laffer Curve.
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