Quote:
Originally Posted by Maynard
Sad to see intelligent people trying to defend an immoral money-grab by the donor class. Trickle-down is a lame myth - not that it doesn't improve economy, just that it does so by such a tiny pittance of the amount lost in tax revenues. Compare this to a REAL tax reform that kept/increased taxes on wealthy, while boosting disposable income on the bottom 50% - now THAT would really juice up a consumption based economy. If you want wage increases, specifically incentivize them (like only give tax breaks on the amount going into wages). And WTF happened to fiscal responsibility? If I get it right, they did not just bump up the deficit, they intentionally pushed it exactly as far as they were allowed to w/o having to get more than 50% support - like some loser who gets credit consolidation so they can run out and get a new card to max out.
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Isn't the bolded part exactly what happened when the last tax cuts expired (minus the juiced economy)?
There is no silver bullet to make everyone prosperous. There are theories to make things better overall, but there will always be some who lag economically. Some subscribe to trying to manipulate results by transferring wealth, ignoring unintended consequences. Others prefer lower taxes and smaller government. I personally think a strategy focused on promoting broad economic growth is better for long term wage growth than an attempt by government to force it through manipulation. Obviously not everyone sees things the same way.
As far as fiscal responsibility, stay tuned for entitlement reforms next year and wait to see what happens with actual results from tax cuts. The left tried to force tax increases by increasing spending. The right is trying to force spending cuts by cutting taxes. That's what happens when everything in government becomes a sound bite instead of a negotiation between (at least semi-) rational people.