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Thread: GOP 'Pledge' makes closing argument to voters

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    Re: GOP 'Pledge' makes closing argument to voters

    Quote Originally Posted by Boo Radley View Post
    People provide their own incentives. They don't need government ot do it for them. Government does not control the economy, and that is just the way it is.
    And whoever is in the CIC seat when the economy goes south gets the blame by those who don't understand how economics work and are partisan hacks.

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    Re: GOP 'Pledge' makes closing argument to voters

    Quote Originally Posted by EnigmaO01 View Post
    And whoever is in the CIC seat when the economy goes south gets the blame by those who don't understand how economics work and are partisan hacks.
    This is true, which is in part why they all try to do something, like the stimulus. Better to be seen doing something than nothing.

    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: GOP 'Pledge' makes closing argument to voters

    Quote Originally Posted by EnigmaO01 View Post
    And whoever is in the CIC seat when the economy goes south gets the blame by those who don't understand how economics work and are partisan hacks.
    So you don't believe the President has any impact on the economy? Alone that is true but with the help of Congress can do great damage as is evidenced right now. How can you claim that economic policy like Obamacare, Stimulus, elimination of tax cuts has no impact on the economy? Does your behavior change when you have less spendable income? If so how does a tax increase affect that spendable income?

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    Re: GOP 'Pledge' makes closing argument to voters

    Quote Originally Posted by Conservative View Post
    You really don't even know how your mind works. Do you spend more money when you have less take home pay? Govt. sets tax policy and personal income growth or decline is a factor in economic performance.
    I've barely notied any changes in taxes, so my spending hasn't been effected at all. And there is good information showing the wealthy don't change their habits either way as it concerns taxes. So, I'm looking for something more fact based than your supposing.

    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: GOP 'Pledge' makes closing argument to voters

    Quote Originally Posted by Boo Radley View Post
    I've barely notied any changes in taxes, so my spending hasn't been effected at all. And there is good information showing the wealthy don't change their habits either way as it concerns taxes. So, I'm looking for something more fact based than your supposing.
    Probably because you are one of the 47% that don't pay any Federal Income taxes thus little impact. Your belief that you know how rich people are going to react is just speculation based upon nothing other than your own opinions. What happened to state tax revenue when the states implemented a "millionaires tax? Did tax revenue go up or down?

    http://online.wsj.com/article/SB124329282377252471.html
    Last edited by Conservative; 09-24-10 at 04:07 PM. Reason: Added content

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    Re: GOP 'Pledge' makes closing argument to voters

    Quote Originally Posted by Conservative View Post
    Probably because you are one of the 47% that don't pay any Federal Income taxes thus little impact. Your belief that you know how rich people are going to react is just speculation based upon nothing other than your own opinions. What happened to state tax revenue when the states implemented a "millionaires tax? Did tax revenue go up or down?

    Millionaires Go Missing - WSJ.com
    I like the WSJ, and glad you use opinion pieces as well. Let me counter:

    Hand the wealthiest Americans a tax cut and history suggests they will save the money rather than spend it. Tax cuts in 2001 and 2003 under President George W. Bush were followed by increases in the saving rate among the rich, according to data from Moody's Analytics Inc. When taxes were raised under Bill Clinton, the saving rate fell.

    The findings may weaken arguments by Republicans and some Democrats in Congress who say allowing the Bush-era tax cuts for the wealthiest Americans to lapse will prompt them to reduce their spending, harming the economy. President Barack Obama wants to extend the cuts for individuals earning less than $200,000 and couples earning less than $250,000 while ending them for those who earn more.

    Given Tax Cuts, Rich Americans Save Instead of Spend - BusinessWeek

    Wealthy tend to save, not spend, tax windfalls | The Journal Gazette | Fort Wayne, IN

    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: GOP 'Pledge' makes closing argument to voters

    Quote Originally Posted by Boo Radley View Post
    Hand the wealthiest Americans a tax cut and history suggests they will save the money rather than spend it.
    You make it sound like the government is being magnanimous in "giving" people a break in their taxes. Cutting taxes is the right and proper thing to do regardless of the way in which people spend their money.

    This type of thinking is most of the problem.

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    Re: GOP 'Pledge' makes closing argument to voters

    Quote Originally Posted by Boo Radley View Post
    I like the WSJ, and glad you use opinion pieces as well. Let me counter:

    Hand the wealthiest Americans a tax cut and history suggests they will save the money rather than spend it. Tax cuts in 2001 and 2003 under President George W. Bush were followed by increases in the saving rate among the rich, according to data from Moody's Analytics Inc. When taxes were raised under Bill Clinton, the saving rate fell.

    The findings may weaken arguments by Republicans and some Democrats in Congress who say allowing the Bush-era tax cuts for the wealthiest Americans to lapse will prompt them to reduce their spending, harming the economy. President Barack Obama wants to extend the cuts for individuals earning less than $200,000 and couples earning less than $250,000 while ending them for those who earn more.

    Given Tax Cuts, Rich Americans Save Instead of Spend - BusinessWeek

    Wealthy tend to save, not spend, tax windfalls | The Journal Gazette | Fort Wayne, IN
    So when someone saves money, where does that money go? Are you really this naive? Keep posting articles that ignore human behavior and the benefits to the economy that actual savings generates.

    As for liking Wall Street Journal articles, obviously you don't like this one because it defeats your argument. Maryland implemented a "Millionaires" Tax and lost millionaires thus revenue and that explains human behavior. Rich people with higher taxes or who are punished for making money move. Then where does the revenue come from?
    Last edited by Conservative; 09-24-10 at 04:25 PM. Reason: Content

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    Re: GOP 'Pledge' makes closing argument to voters

    Quote Originally Posted by Conservative View Post
    So when someone saves money, where does that money go? Are you really this naive? Keep posting articles that ignore human behavior and the benefits to the economy that actual savings generates.
    Into savings. Not spent. Not creating jobs. Not helping 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: GOP 'Pledge' makes closing argument to voters

    Quote Originally Posted by Boo Radley View Post
    Into savings. Not spent. Not creating jobs. Not helping the economy.
    What is it you think banks do with the savings? Keep all the money locked up in the vault?

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