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They are not MEANT to grow the economy.
They are meant to provide a stopgap measure and to "prime the pump" so that the economy is able to become self-sustaining again.
Ken
Well you may want to have a discussion with Obama about that. Remeber unemployment may top 8% without stimulus? Could you imagine if that happened?
Now you're just trying to avoid stepping in the big pile you've created. As we all know, there was a recession in the early 90s, with 3 years of 28% tax rate ahead of it.
The booming 90s, by your own chart there, saw the top bracket go up to 40%.
So, which is it you recommend?
50% to spur the booming 80s again or 40% to spur the booming 90s? Certainly not 28%, since that just spurred a recession.
Your kidding right. Tax rates went up in the early 90s, do you remember what else happened? That's right a recession.
During the Clinton administration there was a little thing called the internet bubble. Remember?
Are you really this afraid of another ideology building a successful economy?
How can't you see the value of creating jobs to sustain people until the economy can begin growing again? Why is that so horrific to you?
I don't care about ideology if it can create self sustaining employment. Please let me know of one other than capitalism that has been able to do that.
Well you may want to have a discussion with Obama about that. Remeber unemplyment may top 8% without stimulus? Could you imagine if that happened?
Sure I remember "unemployment may top 8% without stimulus" - it was a PROJECTION, based on data available late in 2008 - data that vastly underestimated just how UGLY an economy Obama was INHERITING and just how rapidly things were ALREADY going downhill. It was wrong, so what? It in no way, shape of form invalidates the need for stimulus - or proves that things wouldn't have been EVEN WORSE without the stimulus. All it proves is that the projections underestimated just how BAD things really were.
Your kidding right. Tax rates went up in the early 90s, do you remember what else happened? That's right a recession.
During the Clinton administration there was a little thing called the internet bubble. Remember?
Wrong again. Tax rates went up after the recession was over. The recession occurred under the watch of George HW Bush, when tax rates were lower. People like you who don't even know American history ought to be banned from City Data and cast into the outer darkness, where there is wailing and gnashing of teeth.
Wrong. The top marginal tax rate under Reagan was 50%. It only went down to 28% during his last year, 1988. And shortly after that, there was a recession. Your link really undermines your case. If Reagan was able to grow the economy with a top marginal tax rate of 50%, why are you beating up on Obama who is not even considering that much of a tax increase? We are headed back to the tax rates of the Clinton era. You remember the Clinton era, don't you? When everyone and his uncle became millionaires? Well, not everyone, but modesty aside, that's when I got my first million, so from first hand experience, I can tell you you are all wet.
This is truely amazing. On one hand you say the top marginal rate uner Reagan was 50% than on the other hand you say it was 28%. Well in the real world it was 28%. OK no that we are back on earth. When you go from a top marginal rate of 70% to 28% and business knows what to expect. There is no populist rant against business, they will be raring to go. What you see now is the exact opposite.
I remember the Clinton era and the internet bubble. What bubble do you plan on replacing it with?
Wrong again. Tax rates went up after the recession was over. The recession occurred under the watch of George HW Bush, when tax rates were lower. People like you who don't even know American history ought to be banned from City Data and cast into the outer darkness, where there is wailing and gnashing of teeth.
Goodness gracious I have schooled you all night and you still don't know when to quit. Please review the handy dandy tax rate chart I posted for you and you will see indeed that the top marginal rates went up in the early 90s. Sheesh. I am going to start charging you.
Btw - a lot of these "temporary" jobs you keep talking about are people allowed to keep their jobs running state and local governments, as cops, etc...
That's the umph time you brought it up. Cops, the infrastructure and the common defense are what we expect to be funded. The first thing that needs to be done is to scale back social services so that they parity similar levels of past tax collections. When you talk about defunding cops, teachers, etc, = scare tactics; non essentials need to be addressed first.
This is truely amazing. On one hand you say the top marginal rate uner Reagan was 50% than on the other hand you say it was 28%. Well in the real world it was 28%. OK no that we are back on earth. When you go from a top marginal rate of 70% to 28% and business knows what to expect. There is no populist rant against business, they will be raring to go. What you see now is the exact opposite.
I remember the Clinton era and the internet bubble. What bubble do you plan on replacing it with?
What? There's no "on the one hand on the other hand" here. Reagan top marginal tax brackets were 50% on average. Here's the breakdown:
1980: 70%.
1981: 69.125%
1982: 50%
1983: 50%
1984: 50%
1985: 50%
1986: 50%
1987: 38.5%
1988: 28%
Why do you continue to lie?
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