Which group of people are most responsible for the debt of the country? (soldier, solution)
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They don't but the right-wing zombie of the decade has been that lowering rates create so much more economic activity that more revenue is generated. This supply-side theory had been first discredited under Reagan, who had to undo his tax-cuts because so much revenue was lost, and then again under Bush (see my analysis.)
Quote:
If there's one thing that Republican politicians agree on, it's that slashing taxes brings the government more money. "You cut taxes, and the tax revenues increase," President Bush said in a speech last year. Keeping taxes low, Vice President Dick Cheney explained in a recent interview, "does produce more revenue for the Federal Government." Presidential candidate John McCain declared in March that "tax cuts ... as we all know, increase revenues." His rival Rudy Giuliani couldn't agree more. "I know that reducing taxes produces more revenues," he intones in a new TV ad.
If there's one thing that economists agree on, it's that these claims are false. We're not talking just ivory-tower lefties. Virtually every economics Ph.D. who has worked in a prominent role in the Bush Administration acknowledges that the tax cuts enacted during the past six years have not paid for themselves--and were never intended to. Harvard professor Greg Mankiw, chairman of Bush's Council of Economic Advisers from 2003 to 2005, even devotes a section of his best-selling economics textbook to debunking the claim that tax cuts increase revenues. TIME
You must have not understood me. I asked for evidence. You know, facts? Not anecdotal quotes.
Let me ask again. Do you have a single shred of evidence to show that tax rate increases lead to higher net revenue?
You are trying to prove that lowering cap. gains rates was causal to more cap. gains revenue. However, if you look at your own graph from1994-97, you will see that capital gains revenue was rising will rates were also rising and continued to rise when rates were lowered. Then in 2001, the rates were lowered again and revenue dropped.
What that shows is that cap gains rates are independent from revenues, just as I said. There was a stock market boom and nobody cared about what the tax-rates were.
Is it the Liberals?
Is it the Conservatives?
Is it the sick, disabled and the elderly?
Is it the out of work people on welfare?
Is it the people who take advantage of money meant for the out of work, sick, disabled, and elderly?
Is it the people that cut jobs and put the people out of work?
Is it the people that supported the recent wars?
Is it the people with ill intentions that abuse the government?
Is it the corporations and their stockholders that buy the politicians?
Is it the politicians?
Is it the voters for the politicians?
Is it the minority?
Is it the majority?
Is it the banks who convinced the congress and president to give them the bailout?
Is it the people who took advantage of the tax cuts?
Is it the people who made the tax cuts?
Is it the soldiers who went to fight the wars?
Is it the ignorant voters?
If you had to split up the debt and make people accountable, what group of people should be personally responsible for paying off the debt?
*******S from both parties. People like Pelosi, Reid, Obama.
You are trying to prove that lowering cap. gains rates was causal to more cap. gains revenue. However, if you look at your own graph from1994-97, you will see that capital gains revenue was rising will rates were also rising and continued to rise when rates were lowered. Then in 2001, the rates were lowered again and revenue dropped.
What that shows is that cap gains rates are independent from revenues, just as I said. There was a stock market boom and nobody cared about what the tax-rates were.
So you are going to completely ignore the macro level effects of a stock bubble in the late 90's in your analysis? Yet again, you have shown no point of fact to prove you are remotely close to being correct.
And also, your interpretation of my graph is flat out wrong! Cap gains as a % of GDP skyrocketed in the early 2000s, in the same time period when the cap gains rate was decreasing. Read the graph and try again.
Is it the Liberals?
Is it the Conservatives?
Is it the sick, disabled and the elderly?
Is it the out of work people on welfare?
Is it the people who take advantage of money meant for the out of work, sick, disabled, and elderly?
Is it the people that cut jobs and put the people out of work?
Is it the people that supported the recent wars?
Is it the people with ill intentions that abuse the government?
Is it the corporations and their stockholders that buy the politicians?
Is it the politicians?
Is it the voters for the politicians?
Is it the minority?
Is it the majority?
Is it the banks who convinced the congress and president to give them the bailout?
Is it the people who took advantage of the tax cuts?
Is it the people who made the tax cuts?
Is it the soldiers who went to fight the wars?
Is it the ignorant voters?
If you had to split up the debt and make people accountable, what group of people should be personally responsible for paying off the debt?
All to some extent, no one group...looking to blame one group or another is part of the problem in the US IMO.
All to some extent, no one group...looking to blame one group or another is part of the problem in the US IMO.
Ah, you mean something like this right:
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