The Economy Immediately After the Election

[billvon 3,118]

>My theory was that they wouldn't have to be raised because the extra
>taxes received on income tax because of it being passed down as well as
>the more jobs might make up for it. Just a thought.

Right. That's the theory behind ALL tax cuts. As we've seen, it doesn't work.

>It just seems that money is going to get passed on to people in the
>company who will be paying income tax on it anyway. If its not passed on
>and used to expand the business, then more jobs would be created and
>hence more income taxes collected.

Yes, many people think that - but it's not borne out in practice.

The concept you may be thinking of is the Laffer Curve, which is a way of expressing what an "ideal" amount of taxation is when it comes to getting maximal tax revenue from an economy without damaging it. Under some Laffer Curve scenarios, decreasing taxes will actually increase revenues.

It's a nice theory, but again, one not borne out in practice here in the US. Most studies (including by our own government) agree that cutting taxes cuts revenues. Indeed, several studies suggest that if anything we're still on the left side of the curve, and increasing taxes will increase revenues.

>If only 4% of tax revenue is from corporations is accurate, then it
>seems cutting corporate taxes would make a much bigger difference
>for the economy than a 4% tax burden being widely distributed to the
>rest of personal income taxes would be.

Not sure about that. Give the tax break to Enron and they'll just lose more money. Give to to Exxon and they'll have the same record profits they'd have without it. Give it to a middle class family of 4 and you are almost guaranteed it's going right back into the economy. (And when you look at who the biggest beneficiaries of those corporate tax cuts would be, they would be the Enrons, Exxons and AIG's of the world.)

All in all I'd rather cut spending, and then cut corporate (and income) taxes, than spend another few years arguing over how to redistribute taxes once again. Seems more fruitful.

[diverborg 0]

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All in all I'd rather cut spending, and then cut corporate (and income) taxes, than spend another few years arguing over how to redistribute taxes once again. Seems more fruitful.

I couldn't agree more, but when are we going to get our government on path to do this. Its starting to seem like a lost battle, when the people keep demanding more services and more spending, and the candidates playing politics just try to please the masses.

[billvon 3,118]

>Its starting to seem like a lost battle, when the people keep demanding
>more services and more spending, and the candidates playing politics
>just try to please the masses.

Yep. Like the man said:


"The America of my time is a laboratory example of what can happen
to democracies, what has eventually happened to all perfect democracies
throughout all histories. A perfect democracy, a "warm body" democracy in
which every adult may vote and all votes count equally, has no internal
feedback for self-correction.... Once a state extends the franchise to
every warm body, be he producer or parasite, that day marks the beginning
of the end of the state. For when the plebs discover that they can vote
themselves bread and circuses without limit and that the productive members of the body politic cannot stop them, they will do so, until the state bleeds to death, or in its weakened condition the state succumbs to an invader as the barbarians enter Rome."

[TheAnvil 0]

And in a down economy with an unpopular incumbent party, still couldn't pull off 60% of the vote. Or even 55%. mandate, sir John?

Vinny the Anvil
Post Traumatic Didn't Make The Lakers Syndrome is REAL
JACKASS POWER!!!!!!

[kallend 2,148]

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And in a down economy with an unpopular incumbent party, still couldn't pull off 60% of the vote. Or even 55%. mandate, sir John?

Well, Duke Vinny, last time I checked 51% was enough to get elected

...

The only sure way to survive a canopy collision is not to have one.

[micro 0]

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And in a down economy with an unpopular incumbent party, still couldn't pull off 60% of the vote. Or even 55%. mandate, sir John?

Well, Duke Vinny, last time I checked 51% was enough to get elected

It's shameless the way you two flirt.

I miss Lee.
And JP.
And Chris. And...

[kallend 2,148]

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And in a down economy with an unpopular incumbent party, still couldn't pull off 60% of the vote. Or even 55%. mandate, sir John?

Well, Duke Vinny, last time I checked 51% was enough to get elected

It's shameless the way you two flirt.

He's not really my type. Too short.

...

The only sure way to survive a canopy collision is not to have one.

[Gawain 0]

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What gives?

Well, you do know the President-elect Obama's platform was to raise taxes on the top earners, plus a raise in the capital gains tax (among other things, like increase government spending) right? No matter how rich or poor, most don't respond well to have stuff that's rightfully theirs taken from them.

So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!

[kallend 2,148]

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What gives?

Well, you do know the President-elect Obama's platform was to raise taxes on the top earners, plus a raise in the capital gains tax (among other things, like increase government spending) right? No matter how rich or poor, most don't respond well to have stuff that's rightfully theirs taken from them.

If you live in this nation and subscribe to its Constitution, tax is rightfully the people's (by way of the government OF the people). Don't like that, go live somewhere else.

...

The only sure way to survive a canopy collision is not to have one.

[kelpdiver 2]

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Well, Duke Vinny, last time I checked 51% was enough to get elected

Less than that, in fact, viewing 1992 and 2000. 43.4% gave Clinton a sizeable victory.

[Gawain 0]

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What gives?

Well, you do know the President-elect Obama's platform was to raise taxes on the top earners, plus a raise in the capital gains tax (among other things, like increase government spending) right? No matter how rich or poor, most don't respond well to have stuff that's rightfully theirs taken from them.

If you live in this nation and subscribe to its Constitution, tax is rightfully the people's (by way of the government OF the people). Don't like that, go live somewhere else.

Or, I can use my right to ensure that the government uses what it already gets, in nauseating quantities, more prudently. I'm not advocating that anyone not pay tax, and you know that.

The people ceded way too much power with the 16th amendment. Just look at the IRS and 66,000 pages of tax code and tell me otherwise.

So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!

[kallend 2,148]

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Well, Duke Vinny, last time I checked 51% was enough to get elected

Less than that, in fact, viewing 1992 and 2000. 43.4% gave Clinton a sizeable victory.

I'm referring to the % of over $200k annual income voters who reported voting for Obama.

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The only sure way to survive a canopy collision is not to have one.

[kallend 2,148]

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What gives?

Well, you do know the President-elect Obama's platform was to raise taxes on the top earners, plus a raise in the capital gains tax (among other things, like increase government spending) right? No matter how rich or poor, most don't respond well to have stuff that's rightfully theirs taken from them.

If you live in this nation and subscribe to its Constitution, tax is rightfully the people's (by way of the government OF the people). Don't like that, go live somewhere else.

Or, I can use my right to ensure that the government uses what it already gets, in nauseating quantities, more prudently. I'm not advocating that anyone not pay tax, and you know that.

The people ceded way too much power with the 16th amendment. Just look at the IRS and 66,000 pages of tax code and tell me otherwise.

The Constitution, as amended, is what it is.

...

The only sure way to survive a canopy collision is not to have one.