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Author: 1poorguy Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 465064  
Subject: Re: The Fiscal Cliff-Solving the wrong problem Date: 11/15/2012 10:17 PM
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This shows a profound ignorance of science.

Ummmmm...I'm an undissertated doctor in physics. My name is on several papers in astrophysics. I know a damned sight more about it than you do.

There are far too many other variables affecting economic growth to make this claim. The theory is only that other things equal, higher taxes reduce economic growth and lower taxes increase economic growth, and the empirical evidence is very strong on this matter.

When are all other things ever equal? They're not. Your idea is to hold everything equal and move the one slider (taxes). That's ludicrous when you're talking an economy or a society.

And the data (real world results) shows you are wrong. The economy was healthier under Clinton (higher taxes) than Bush. It was also healthier back when the top marginal tax rate was over 70%. Tax cuts get pocketed. The stimulus, if any, is like a sugar rush that wears off quickly.

You're simply wrong.

Increased taxes while allowing for deductions for reinvestment is the way to go. If they don't reinvest their monies, they are taxed. If they do, they're not. THAT'S how to get growth. What we've been doing is just making rich people's mattresses fatter.

And time will prove (again) that this is correct (unless Obama wimps out again).
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