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Thread: United States loses its AAA Credit rating from S & P

  1. #251
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by apdst View Post
    It was a fake decline. The government can't fix the economy. It didn't happen during the great depression and it's not going to work, now.
    You did not even address anything in the quote which you posted. Try again.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by apdst View Post
    It was a fake decline. The government can't fix the economy. It didn't happen during the great depression and it's not going to work, now.

    so in your opinion, what ended the Great Depression and when did that happen?
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by evanescence View Post

    This is the result of our failed two party system. When will people acknowledge the root of our problems?
    I don't believe that. We've almost always had a two party system and it works well. This is a result of one party trying to take down the other one.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Eighty Deuce View Post
    Again, you are having to make some broad assumptions as to what the tax increases would do. If you look just at the percentage of increase in tax rates, and then slice that out of likely GDP, then you do get $4T. However, tax increases do not exist in a fishbowl. They will stimy GDP, so the pie will not be as large as projected. Tax rates change behavior.

    With regard to "what-if's", in hindsight one can look at the cost of the Wars (about $1.5 T so far) and the tax cuts (about $3 T), and then make assumptions that our $14.5 T debt would only be $10.0 T right now. Possibly. But like so many things, we do not know what else would have gone differently. Had Al Qeada been able to better sustain itself in the last decade, we do not know if that would have yielded another major attack or two here, or in Europe. If and when we get the news bulletin that a major city has suffered a terrorist nuke, it will rock GDP by trillions.

    If Medicare had been set up as a balanced program, what then ? As a percent of budget, entitlements are more than twice what they were 40 years ago, from something like 30% to 66%.
    Obviously there is a high degree of uncertainty in any of these projections or what-if scenarios, but I do believe that the tax cut what-if scenario takes the destimulative effect into account.

    And of course the what-ifs can be spun in both directions. My belief is that the housing crisis would have been much less severe without the tax cuts for the simple reason that individuals woud have had less cash in hand to invest the real estate market. Asset bubbles are frequently preceded by large tax cuts.

  5. #255
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by haymarket View Post
    so in your opinion, what ended the Great Depression and when did that happen?
    Less government intervention in the private sector and it took place after WW2. The Revenue Act of 1948, is what ended the great depression.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by apdst View Post

    It was a fake decline. The government can't fix the economy. It didn't happen during the great depression and it's not going to work, now.
    And yet it did. Go figure?

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Sheik Yerbuti View Post
    I don't believe that. We've almost always had a two party system and it works well. This is a result of one party trying to take down the other one.
    No, it doesn't "work well." At all. And of course they try to take the other down-there's a lot of money at stake.
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by apdst View Post
    Less government intervention in the private sector and it took place after WW2. The Revenue Act of 1948, is what ended the great depression.
    I believe you would be the only person in the world to reach that stunning conclusion.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by apdst View Post
    Less government intervention in the private sector and it took place after WW2. The Revenue Act of 1948, is what ended the great depression.
    In November of 1948, the United States entered a recession.

    I wonder how far you are willing to go to avoid admitting you are dead wrong.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Sheik Yerbuti View Post
    I don't believe that. We've almost always had a two party system and it works well. This is a result of one party trying to take down the other one.
    This is a result of the Democrats trying to make more poor people and grow their voting base. But, the American people on to their plan and are going to vote their dumbasses out next year.

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