Gone are the days when the rich were poorer, and the poor were poorer.
12 Replies to “The Bush Tax Cuts”
one professor’s take.
what is the UN’s position on the US poor?
that’s all that matters isn’t it?
in canada the poor were better off under the Liberals.
and then came steve, with TWO GST cuts.
If the so called progressives don’t have their lies for the common man to cling to what do they have?
Perhaps if the US stopped propping up the UN’s various projects they would have more money to fund their own poverty pimps?
We Canadians have it so much better …. Economic guru Jack Layton tells us that the poor are being abused and the rich are getting away with it!
All you need to know.
I am all for tax cuts. The problem in the US is that they forgot to make the cuts to the expenses side of the ledger. This means that their debts are increasing exponentially. Expecting future generations to pay the current generations debts is morally wrong.
the US economy has been on the verge of collapse for thirty or forty years now, just ask any number of esteemed ‘journalists’, it’s all going to hell in a handbasket any second now….
I just snicker whenever I hear about “tax cuts for the rich”.
In the US income is taxed, not wealth.
It’s easy for the Teddy Kennedy’s and Al Gores to demand higher taxes because they know they can’t be touched. In fact, I wouldn’t be surprised if they don’t advocate higher taxes for higher income brackets as a means of hobbling people who stand a chance of getting ahead honestly.
But trust funds don’t get taxed, do they?
The secret of the American economy is that it is a capitalistic economy.
Capitalism rewards good money management (ie tax cuts) and punishes bad money management (ie a 60 cent dollar), no matter who the leaders are.
Capitalism is the most flexible of all economies because it can adapt to new world economic changes faster than any other more rigid socialist or communist systems.
The efficiency of capitalism does not reward the inefficient wooden-headed thinking of single-minded leaders, ie socialists, who like to think that they are smarter than the markets.
Frederick Hayek and von Mises showed that all economies and businesses absolutely need to know their prices and costs of production.
Because it leads to the best results.
Anything less leads to inefficiency and misallocation of precious resources.
And the whole nation suffers.
Kevin:
1. The US gov’ts at all levels spend less as a percent of GDP than CDian ones do. And their economy is growing faster with productivity improving at a far faster rate.
Fretless:
2. (discretionary family) Trust income is taxed at the top personal rate in Canada. I am pretty sure they are taxed the same in the US.
The US government spends less is not exactly true. It is a statistical aberation. For instance the debt that is reported to the public does not include the off budget items like the entire Iraq war. As well the social security and medicare trust funds are moved to the general revenue fund and replaced with an IOU. This is also not included in headline debt numbers.
The US GAO has a full report on the debt problem here. http://www.gao.gov/new.items/d07510r.pdf
Of particular interest is page 6.
I said “US gov’ts at all levels” by that I mean fed, prov/state and muni. And they as a percentage of GDP are spending less than in CDA. Are they overspending? Absolutely, but they also have more room to spend. And as for the Iraq costs, it is money extremely well spent.
But…Ted (or Cereberus, the three-headed dog that guards the gates of Hades) says that economists are unanimous in their criticism of the American economic approach! This man must be labelled a DENIER and publicly scorned! /sarc off
PS: Hmmm…Cereberus guards the gates of Hades…Ted guards the gates of the Liberal Party…ergo, the Liberal Party represents Hades! Makes sense to me.
Kevin,
The Iraq war is fully budgeted as they have to go to the US Senate to fund it as they go along.
The handout liability for medicare, medicaid, Pensions etc are NOT funded nor accounted for and no US politician wants to go near it because the current generation of old people are the most selfish, scummy and moraless jerkoffs the world has ever seen.
The AARP or whatever the theiving scumbag lobby for old people is will fight tooth and nail against any reform that doesn’t impoverish the future generations for their selfish benefit. They are vermin.
Tax all those wealthy demacrats tax the KENNEDYS,GORES, and all their supporters in hollywood
one professor’s take.
what is the UN’s position on the US poor?
that’s all that matters isn’t it?
in canada the poor were better off under the Liberals.
and then came steve, with TWO GST cuts.
If the so called progressives don’t have their lies for the common man to cling to what do they have?
Perhaps if the US stopped propping up the UN’s various projects they would have more money to fund their own poverty pimps?
We Canadians have it so much better …. Economic guru Jack Layton tells us that the poor are being abused and the rich are getting away with it!
All you need to know.
I am all for tax cuts. The problem in the US is that they forgot to make the cuts to the expenses side of the ledger. This means that their debts are increasing exponentially. Expecting future generations to pay the current generations debts is morally wrong.
the US economy has been on the verge of collapse for thirty or forty years now, just ask any number of esteemed ‘journalists’, it’s all going to hell in a handbasket any second now….
I just snicker whenever I hear about “tax cuts for the rich”.
In the US income is taxed, not wealth.
It’s easy for the Teddy Kennedy’s and Al Gores to demand higher taxes because they know they can’t be touched. In fact, I wouldn’t be surprised if they don’t advocate higher taxes for higher income brackets as a means of hobbling people who stand a chance of getting ahead honestly.
But trust funds don’t get taxed, do they?
The secret of the American economy is that it is a capitalistic economy.
Capitalism rewards good money management (ie tax cuts) and punishes bad money management (ie a 60 cent dollar), no matter who the leaders are.
Capitalism is the most flexible of all economies because it can adapt to new world economic changes faster than any other more rigid socialist or communist systems.
The efficiency of capitalism does not reward the inefficient wooden-headed thinking of single-minded leaders, ie socialists, who like to think that they are smarter than the markets.
Frederick Hayek and von Mises showed that all economies and businesses absolutely need to know their prices and costs of production.
Because it leads to the best results.
Anything less leads to inefficiency and misallocation of precious resources.
And the whole nation suffers.
Kevin:
1. The US gov’ts at all levels spend less as a percent of GDP than CDian ones do. And their economy is growing faster with productivity improving at a far faster rate.
Fretless:
2. (discretionary family) Trust income is taxed at the top personal rate in Canada. I am pretty sure they are taxed the same in the US.
The US government spends less is not exactly true. It is a statistical aberation. For instance the debt that is reported to the public does not include the off budget items like the entire Iraq war. As well the social security and medicare trust funds are moved to the general revenue fund and replaced with an IOU. This is also not included in headline debt numbers.
The US GAO has a full report on the debt problem here.
http://www.gao.gov/new.items/d07510r.pdf
Of particular interest is page 6.
I said “US gov’ts at all levels” by that I mean fed, prov/state and muni. And they as a percentage of GDP are spending less than in CDA. Are they overspending? Absolutely, but they also have more room to spend. And as for the Iraq costs, it is money extremely well spent.
But…Ted (or Cereberus, the three-headed dog that guards the gates of Hades) says that economists are unanimous in their criticism of the American economic approach! This man must be labelled a DENIER and publicly scorned! /sarc off
PS: Hmmm…Cereberus guards the gates of Hades…Ted guards the gates of the Liberal Party…ergo, the Liberal Party represents Hades! Makes sense to me.
Kevin,
The Iraq war is fully budgeted as they have to go to the US Senate to fund it as they go along.
The handout liability for medicare, medicaid, Pensions etc are NOT funded nor accounted for and no US politician wants to go near it because the current generation of old people are the most selfish, scummy and moraless jerkoffs the world has ever seen.
The AARP or whatever the theiving scumbag lobby for old people is will fight tooth and nail against any reform that doesn’t impoverish the future generations for their selfish benefit. They are vermin.
Tax all those wealthy demacrats tax the KENNEDYS,GORES, and all their supporters in hollywood