Comments on: Scary

By: RSmitty

RSmitty — Wed, 18 Nov 2009 17:37:16 +0000

What? Me read links? C’mon!

OK, having read that, suddenly I feel like saying, “Yay, double-dip!” Doesn’t seem so ominous anymore, after reading that link.

By: Dave

Dave — Wed, 18 Nov 2009 16:11:29 +0000

Actually, if you click the Brad DeLong link in my post, he’s saying there’s a small chance of it being worse than that.

By: RSmitty

RSmitty — Wed, 18 Nov 2009 16:06:48 +0000

Now the double-dip warnings are starting to come out.

By: anonone

anonone — Wed, 18 Nov 2009 15:52:31 +0000

That is really funny. I wondered what happened to that comment.

By: Dave

Dave — Wed, 18 Nov 2009 15:22:28 +0000

a1 — I just noticed that a comment from you from the other day got caught in the spam queue because the filter thought you were a spammer due to your use of the words “prescription,” “generic” and “price.” Pretty doggone funny if you ask me.

By: Dave

Dave — Wed, 18 Nov 2009 14:22:55 +0000

“Guess what, the tax revenue coming from the top 50% was driven by the deficit spending. If you cut the spending, bye-bye revenue.”

I disagree. I believe the tax revenue came from the growth in the economy due to speculative bubbles built by Fed monetary policy.

By: noman

noman — Wed, 18 Nov 2009 13:53:42 +0000

Those tax cuts were good for the revenue stream.

Let’s assume for a moment you are correct in this. So what? We have created a large class of people who used to be lower middle class who are now paying virtually no taxes (well, income tax anyway), and poor people who are receiving EITC, and a small class of very very wealthy people who are sopping up all the income and paying most of the taxes. “Good for the revenue stream?” – I don’t think so. Bad for the nation.

The problem during the Bush years was spending, not taxes.”

Guess what, the tax revenue coming from the top 50% was driven by the deficit spending. If you cut the spending, bye-bye revenue.

By: anonone

anonone — Wed, 18 Nov 2009 13:43:09 +0000

“And had they not spent so much money and created a new entitlement, the tax cuts would not have added to the deficit. Those tax cuts were good for the revenue stream. The problem during the Bush years was spending, not taxes.”

Wow, is that why you were supporting the fiscally-responsible Democrats all those years? You couldn’t possibly have voted for Bush, right?

“Those tax cuts were good for the revenue stream.”

ROFLMAO

By: noman

noman — Wed, 18 Nov 2009 13:28:57 +0000

Is there a Republican tax cut proposal being considered right now that I’m unaware of?

There will have to be a Dem middle-class tax cut bill if Obama plans to keep his pledge. Repubs will stamp their feet and whine about class warfare until their inevitable tax-cuts-for-the-rich amendments are added.

By: Dave

Dave — Wed, 18 Nov 2009 13:12:44 +0000

Is there a Republican tax cut proposal being considered right now that I’m unaware of?

And had they not spent so much money and created a new entitlement, the tax cuts would not have added to the deficit. Those tax cuts were good for the revenue stream. The problem during the Bush years was spending, not taxes.

“You got all that out of one line from Romer?”

Actually Pethokoukis did, but you can’t tell me with a straight face that all of that is not on the table.