Tan V asked:


a)It downplayed the role of the governmen in stimulating economic growth.
b)It discouraged the establishment of overseas colonies.
c)It encouraged trade by abolishing laws that regulated trade.
d)It was based on the belief that a nation’s real wealth was measured in its gold and silver treasure.

Tristan

truthisback asked:


The ONLY real capital is earnings - wealth that was created by the private sector. Money is not capital - this is why inflating doesn’t work in the long run.

In this country the primary tax is the income tax - the government takes some of those earnings, meaning the economy cannot reinvest them.

All a tax cut does is allow the economy to reinvest more of its earnings - to grow organically.

And that’s precisely how it has worked since 1981 - why we’ve had steady growth and why a repeat of the 1970s is out of the question.
strattz - tax REVENUE has gone UP - what part of that don’t YOU get?
Usama, Clinton got a lot of help from the Fed - - - also, in terms of economic policy, Clinton was basically a Republican - - - he expanded free trade, deregulated the financial services sector, signed welfare reform, opened huge corporate tax loopholes…

All of which worked!
Sorry, the numbers don’t support you. Median household income dropped precipitously in 1979 and 1980 due to the runaway inflation and runaway unemployment. We cut tax rates, enabling the economy to reinvest its own earnings and rely less on the Fed for growth, in turn allowing the Fed to focus on price inflation, and the economy grew, created jobs, incomes rose, inflation AND unemployment fell. Reagan also inherited gas lines because someone in DC forgot to read Jean-Baptiste Say and didn’t realize that price ceilings cause shortages. Reagan had read Say, undid the price ceilings, and the gasoline shortages disappeared within six weeks - which is about the time it takes a barrel of crude being pulled out of the ground halfway around the world to wind up in your local gas station’s UGT.
strattz you are a joke - how can the tax cuts add to the national debt when REVENUE HAS GONE UP?
World Peace Now what news might that be? The Fed says the subprime market’s woes really aren’t affecting the broader economy, and the data supports that conclusion. Where do you get your news? Not the WSJ, Barron’s, CNBC or Bloomberg…..

Anthony