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|Subject: Re: Don't worry about boomers killing the market||Date: 8/2/2006 11:50 PM|
|Author: JAFO31||Number: 52917 of 74536|
OldOne: "Secondly, I do not believe that we have had "unwarranted, idealogically driven tax cuts". The only people who believe this are those who use "static scoring" when analyzing tax cuts. "Dynamic scoring" is much more accurate and shows what we have seen in reality -- tax cuts lead to greater economic activity, which more than offsets the tax cut, leading to higher tax revenue."
Data please, showing that tax cuts lead to high real revenues?
From my records, regarding FIT revenue:
Year----gross--CPI-U-----------real revenue---- delta
CPI Info from http://data.bls.gov/servlet/SurveyOutputServlet
I realize that I need to update for 2003 data, and for 2004 once such data becomes available.
Contrary to popular mythology, the Reagan tax cuts did not significantly increase real federal income tax revenue.
"What if the surplus at the end of the Clinton administration had been invested..." My feeling is that the surplus was not "squandered", it was soaked up by the war on terror, which we did not start, but must pursue unless we wish to live under islamic domination. Even if I could get $250 k per year in SS, I would not want my children to live in a muslim country. The tax cuts have actually increased government revenue and have been a net positive.
I will probably regret responding to this paragraph, but are you really intending to argue that GWB's war on terror is the most cost effective method for avoiding the islamic domination you fear? If not, then it is reasonable to target about squandered funds resulting from sub-optimatl choices.
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