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Thread: Obama: No Deal Without Tax Hikes

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    Re: Obama: No Deal Without Tax Hikes

    three quarters of a TRILLION dollars in raised taxes in obamacare:

    Director's Blog Blog Archive Additional Information on CBOs Preliminary Analysis of H.R. 2

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    Re: Obama: No Deal Without Tax Hikes

    "It would be an embarrassment for the United States of America to default on its obligations,'' Virginia Governor Bob McDonnell (P) told the Reuters news agency at a meeting of the National Governors Association in Salt Lake City Saturday.

    "I really think we need more statesmen and less politicians in Washington right now because it is a situation that must be solved,” Alabama Governor Robert Bentley (R) said in another Reuters interview.
    I've been saying the bolded bit for weeks.

    Debt ceiling crisis: another day without resolution as the clock ticks - CSMonitor.com

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Boo Radley View Post
    Nope. A theory must be tested. And when you reach the conclusion that there is no evidence to support it, you adjust the theory and not just hold on to it.
    There's certainly a debate (as with much of economics) but most have reached the conclusion that sufficient evidence exists to hold to the theory that increasing taxes would hurt the economy, at least in the short term.

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Taylor View Post
    There's certainly a debate (as with much of economics) but most have reached the conclusion that sufficient evidence exists to hold to the theory that increasing taxes would hurt the economy, at least in the short term.
    I can't speak to what convinces some and not others, but the fact remains we have seen the economy do well with a high tax rate and poorly with a low tax rate. And the reverse. There appears to be little actual evidence that taxes make any significant difference. It should never be about opinions as much as about what we can show actually happening or has happened.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by sangha View Post
    I posted several links to people, all rightwingers, saying that tax increases prevent growth
    Nope, they say they hurt growth. Again, not the same thing. To say that tax increases prevent growth is to imply that an increase will result in a recessions or at best, zero growth. Nobody is making that claim.

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    Re: Obama: No Deal Without Tax Hikes

    Instead of predictions, how about a look at results?

    UConn report finds state income tax hasn’t hurt job growth

    (snip)

    “States with income taxes had job growth rates that were not statistically lower than states without income taxes. This finding is consistent with the hypothesis that Connecticut’s recent economic performance has had less to do with the income tax and more to do with national and global forces that have contributed to structural changes in its economy,” Lanza wrote.

    UConn report finds state income tax hasn?t hurt job growth- The New Haven Register - Serving New Haven, Connecticut

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Boo Radley View Post
    I can't speak to what convinces some and not others, but the fact remains we have seen the economy do well with a high tax rate and poorly with a low tax rate. And the reverse. There appears to be little actual evidence that taxes make any significant difference.
    With an analysis that simplistic, I don't know why you both analyze at all. It's like saying "we've seen smokers live very long lives and non smokers live very short lives, and we've seen smokers live short lives and non smokers live long lives, therefore there's no evidence smoking makes any difference on one's lifespan."

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by Taylor View Post
    With an analysis that simplistic, I don't know why you both analyze at all. It's like saying "we've seen smokers live very long lives and non smokers live very short lives, and we've seen smokers live short lives and non smokers live long lives, therefore there's no evidence smoking makes any difference on one's lifespan."
    You're misreading. There is plenty of evidence of the damages of smoking, something you do not have with taxes and the economy.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Obama: No Deal Without Tax Hikes

    let the Bush tax cuts expire....for all.....simple as that....
    If tax cuts are key to job creation, we should have next to no unemployment right now...
    Oracle of Utah
    Truth rings hollow in empty heads.

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    Re: Obama: No Deal Without Tax Hikes

    Quote Originally Posted by BDBoop View Post
    And you're been right.


    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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