How long will it take to repair the damge to America done by the Bush regime

[DuncanK]

Originally posted by Imran Siddiqui

If the market always clears, than increases in supply alway result in immediate and adequate price drops. That is Say's law. Either you believe in market equilibrium or you don't. All free market economists basically believe in Say's law.

Are you confusing movement along the supply line (which is when you increase supply by simply producing more) with shifts in the supply line (which results from increases in technology)?

No, I'm talking about shift in supply and movement along the demand curve. That is say's law and it is also neo-classical economics.

[DuncanK]

Originally posted by Imran Siddiqui
Most tax cuts have been aimed at the middle class, the tax cuts of Reagan (and maybe Bush II) being notable exceptions. After all, affecting upper income groups and being aimed at upper income groups are two different things. Especially when the stated goal is to increase spending.

Only one time have taxes been cut for the middle class in order to create a budget deficit that would hopefully stimulate demand in the economy. That was the Kennedy tax cuts. The other tax cuts were not designed for that. They were just designed for themselves.

[DuncanK]

Originally posted by Imran Siddiqui

Most tax cuts have been aimed at the upper income groups and have been supply side.

I'm glad that you really, really feel this way, but simply because it is your feeling doesn't mean that your view is true .

Do yo agree that income is the most significant determinant of demand and that people with greater income save a greater percentage of their income?

[DuncanK]

You are thinking that all tax cuts are designed to get the economy back to full employment. When taxes are cut when the economy is already at full employment you can't have growth anyway so those can't be demand-side. On the otherhand I'm sure that there are some economists who believe that you can cut taxes for the rich when the economy is at full employment and get growth.

That's all for me tonight. Have a good one.

[Alexander's Horse]

Originally posted by Ned


AH, you don't have a clue, do you.

I have lived through presidents since Truman. The presidents that really stood out and inspired people were Kennedy and Reagan. Both knew how to inspire people and a nation to great things.

(Odd, isn't it, that both were Irish?)

Oh - so its the childish cornball speeches you like?

(I didn't know you were that old btw!)

[Ned]

Yeah, I'm a baby boomer.

[DuncanK]

I'm 4 years away from being a baby boomer.

[Sava]

Bush's tax cuts are aimed at giving his rich buddies and constituents more money

[PLATO]

Originally posted by Sava
Bush's tax cuts are aimed at giving his rich buddies and constituents more money

And just about everybody else too.

[Ned]

Yeah, Duncan, I find interesting to talk with folks here on Apolyton that only know events from history books while I experienced them firsthand. Some, particularly the far left here, have a very distorted view of history.

[Alexander's Horse]

And some of us have modern history prizes from universities

[Traianvs]

Some are actually aiming for such prizes right now!!

[DuncanK]

I'm old enough to reason.

[DuncanK]

I know more than most of the rightwing and moderate fellas around here.

[Ned]

Originally posted by Alexander's Horse
And some of us have modern history prizes from universities

Universities generally are dominated by the far left. Getting history prizes from such universities does not counter my statement.