Comments on: Good Stuff from the 2003 Tax Cuts http://www.digitalbrainwaves.com/2006/11/05/good-stuff-from-the-2003-tax-cuts/ One random geek's view of the world around him Wed, 16 Jun 2010 02:04:28 +0000 http://wordpress.org/?v=2.9 hourly 1 By: K4 http://www.digitalbrainwaves.com/2006/11/05/good-stuff-from-the-2003-tax-cuts/comment-page-1/#comment-723 K4 Tue, 07 Nov 2006 04:36:40 +0000 http://www.digitalbrainwaves.com/?p=105#comment-723 I remember Ben Stein Asking Ferris about Voodoo Exonomics! :P K I remember Ben Stein Asking Ferris about Voodoo Exonomics! :P

K

]]> By: Pauley http://www.digitalbrainwaves.com/2006/11/05/good-stuff-from-the-2003-tax-cuts/comment-page-1/#comment-717 Pauley Sun, 05 Nov 2006 23:06:57 +0000 http://www.digitalbrainwaves.com/?p=105#comment-717 Again, assuming the research is correct on the numbers posted above (my original post has been edited with research source information), the deficit has gone <i>down</i> $207 billion over the last 2 years. Hardly ballooning out of control. And tax cuts affect everyone. Yeah, they affect people who are paying more taxes to begin with more. And while richer individuals pay a lot of taxes, another group that pays a lot of taxes are small- and medium-sized businesses. The less taxes they're charged, the more people whom they can afford to hire, who then pay more income taxes than they would have initially. Lowering the tax rates <i>does</i> then end up actually <i>increasing</i> the revenues. We've had 3 years to look at the results. How else would you explain the revenue increase? -- Pauley Again, assuming the research is correct on the numbers posted above (my original post has been edited with research source information), the deficit has gone down $207 billion over the last 2 years. Hardly ballooning out of control.

And tax cuts affect everyone. Yeah, they affect people who are paying more taxes to begin with more. And while richer individuals pay a lot of taxes, another group that pays a lot of taxes are small- and medium-sized businesses. The less taxes they’re charged, the more people whom they can afford to hire, who then pay more income taxes than they would have initially. Lowering the tax rates does then end up actually increasing the revenues. We’ve had 3 years to look at the results. How else would you explain the revenue increase?

– Pauley

]]> By: Kirz http://www.digitalbrainwaves.com/2006/11/05/good-stuff-from-the-2003-tax-cuts/comment-page-1/#comment-716 Kirz Sun, 05 Nov 2006 22:46:23 +0000 http://www.digitalbrainwaves.com/?p=105#comment-716 Oh, and re: How lowering taxes increases tax revenue. During Bush I presidency, they had a term for that kind of Macro economic thinking, I believe it was: <i> VOODOO ECONOMICS </i>! Oh, and re: How lowering taxes increases tax revenue.
During Bush I presidency, they had a term for that kind of Macro economic thinking, I believe it was:
VOODOO ECONOMICS !

]]> By: Kirz http://www.digitalbrainwaves.com/2006/11/05/good-stuff-from-the-2003-tax-cuts/comment-page-1/#comment-714 Kirz Sun, 05 Nov 2006 22:41:48 +0000 http://www.digitalbrainwaves.com/?p=105#comment-714 ummmm, but what about the deficit? Last time I looked it is totally ballooning out of control and out of all reason! In absolute dollar amounts (and even in inflation adjusted dollars) it is totally out of control and will put an incredible burden on the next generation and will be a total budget buster <i>just on the interest charges to service it, alone!</i> to fund this out-of-control Frankenstein of a deficit! What happened to Bill Clinton's <i>federal budget SURPLUS</i>? Oh, that's right, Bush II and the Republicans blew it! Blew it ALL on tax cuts for the rich! You know, one of these days (November 7th) they're gonna have to answer for that ummmm, but what about the deficit? Last time I looked it is totally ballooning out of control and out of all reason! In absolute dollar amounts (and even in inflation adjusted dollars) it is totally out of control and will put an incredible burden on the next generation and will be a total budget buster just on the interest charges to service it, alone! to fund this out-of-control Frankenstein of a deficit! What happened to Bill Clinton’s federal budget SURPLUS?
Oh, that’s right, Bush II and the Republicans blew it! Blew it ALL on tax cuts for the rich!
You know, one of these days (November 7th) they’re gonna have to answer for that

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