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A little outnumbered I'd say:

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  • A little outnumbered I'd say:

    Bush's economists

  • #2
    Milton Freidman is just corrupt. Since when does he support budget deficits.
    "When you ride alone, you ride with Bin Ladin"-Bill Maher
    "All capital is dripping with blood."-Karl Marx
    "Of course, my response to your Marx quote is 'So?'"-Imran Siddiqui

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    • #3
      But the letter also called on the government to show spending restraint to keep the deficit under control.


      Thank you Duncan for reading your own biases in .
      “I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
      - John 13:34-35 (NRSV)

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      • #4
        The fact is that he supports the budget which calls for supply side deficits. Why even stating in the letter that they support a ballanced budget. All they really care about is the supply side tax cuts.
        "When you ride alone, you ride with Bin Ladin"-Bill Maher
        "All capital is dripping with blood."-Karl Marx
        "Of course, my response to your Marx quote is 'So?'"-Imran Siddiqui

        Comment


        • #5
          It's not a supply side budget. As DanS has consistently pointed out to you, demand side of the budget is about 3/4ths while supply side is 1/4th. To call it a supply side budget is dishonest.
          “I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
          - John 13:34-35 (NRSV)

          Comment


          • #6
            The 3/4ths demand side is dishonest. That's just ridiculous. That would mean that Bush is the most liberal president of our time. Do you really think Freidman would support him if that were true?
            "When you ride alone, you ride with Bin Ladin"-Bill Maher
            "All capital is dripping with blood."-Karl Marx
            "Of course, my response to your Marx quote is 'So?'"-Imran Siddiqui

            Comment


            • #7
              Um... there is such a thing as demand side tax cuts, Duncan. I suggest you go back to your economics textbook and you'd see MOST tax cuts are based on increasing demand.

              I guess you'd consider Kennedy, and every other person that has cut taxes, a supply sider then?
              “I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
              - John 13:34-35 (NRSV)

              Comment


              • #8
                Originally posted by Imran Siddiqui
                Um... there is such a thing as demand side tax cuts, Duncan. I suggest you go back to your economics textbook and you'd see MOST tax cuts are based on increasing demand.

                I guess you'd consider Kennedy, and every other person that has cut taxes, a supply sider then?
                Don't be ridiculous, of course there are such things. The Bush budget isn't even close to being demand-side. There is a tiny increase in unemployment benefits. The tax cuts are all supply side trickle down crap.

                edit: change supply side to demand side. I'm messing up today
                "When you ride alone, you ride with Bin Ladin"-Bill Maher
                "All capital is dripping with blood."-Karl Marx
                "Of course, my response to your Marx quote is 'So?'"-Imran Siddiqui

                Comment


                • #9
                  Just because you keep saying it doesn't make it true.

                  When DanS posted his breakdown, you had nothing to contest that.

                  A general tax cut is not always supply side. Supply side is based on trickle down, that if you cut the highest rates, the increased business profits will lead to more jobs and thus increase tax revenue. Only the most unknowledgable would consider Bush's tax cut plan to kowtow to that belief. Bush's tax cut is very much based on the demand side because it is based on people having more money to CONSUME. It is not based on the fact that supply would increase, leading to an increase in demand (ie, Say's Law)
                  “I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
                  - John 13:34-35 (NRSV)

                  Comment


                  • #10
                    Originally posted by Imran Siddiqui
                    Just because you keep saying it doesn't make it true.

                    When DanS posted his breakdown, you had nothing to contest that.
                    I was skeptical, but I didn't want to say anything until I looked into it further.

                    Originally posted by Imran Siddiqui
                    A general tax cut is not always supply side. Supply side is based on trickle down, that if you cut the highest rates, the increased business profits will lead to more jobs and thus increase tax revenue. Only the most unknowledgable would consider Bush's tax cut plan to kowtow to that belief. Bush's tax cut is very much based on the demand side because it is based on people having more money to CONSUME. It is not based on the fact that supply would increase, leading to an increase in demand (ie, Say's Law)
                    maybe you should look into it further. The tax cuts are aimed at people who save their extra money not those use spend it. Therefore its supply side.
                    "When you ride alone, you ride with Bin Ladin"-Bill Maher
                    "All capital is dripping with blood."-Karl Marx
                    "Of course, my response to your Marx quote is 'So?'"-Imran Siddiqui

                    Comment


                    • #11
                      Actually it's very consumption based, with MINOR supply side effects thrown in there. Like I said, look at DanS's numbers. Dividend Tax, etc are very minor compared to cutting rates on taxes designed to stimulate consumption.
                      “I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
                      - John 13:34-35 (NRSV)

                      Comment


                      • #12
                        Hmm, doesn't work that way. What the people do with their extra net income - spend it, save it, or (you forgot) 'buy' free time (work less hours) - is in no way influenced by the administration's intentions, except when the tax cuts change price ratios.
                        A horse! A horse! Mingapulco for a horse! Someone must give chase to Brave Sir Robin and get those missing flags ...
                        Project Lead of Might and Magic Tribute

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                        • #13
                          Actually depending on the tax cuts, the government can influence how that extra money is utalized. Not exactly, but to a great degree.
                          “I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
                          - John 13:34-35 (NRSV)

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                          • #14
                            Only if the cuts make one thing cheaper / more expensive than something else. For instance, reducing wage taxes can potentially increase the demand for labour.
                            A horse! A horse! Mingapulco for a horse! Someone must give chase to Brave Sir Robin and get those missing flags ...
                            Project Lead of Might and Magic Tribute

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                            • #15
                              Take two Economist's -get two positions :P
                              Nuttin new.
                              Curse your sudden but inevitable betrayal!

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