haha604
Well-Known Member
No, its not as simple as "tax cut translates to boost in economies." YOu have to look at whose tax is being cut, and the marginal propensity to spend of those people. A person earning a million dollars a year is going to spend a lot less of his 10% taxcut in percentage than a person earning 50,000 a year. This is economics 101. And what George Bush is doing is cutting taxes and INCREASING government expenditures, causing the deficit to go out of control. The Fed is able to maintain a low interest rate only because Asian countries such as China, Japan, Taiwan, South Korea, Singapore, and Hong Kong have to buy American bonds at any rate to push down their own currencies. When these governments lose their appetite for the greenback, expect a dramatic rise in interest rates, suppresing any economic recovery. America can try to cure its budget now, or wait till later when the costs will be much higher.
The whatever stats you provided, if they are any indication of the true condition of the economy, only applies to the short term. Bush's reckless spending is going to haunt America in the next decade. Future taxpayers will shoulder most of the burden. I don't believe Kerry will turn around the deficit during his term but at least he doesn't think that the deficit isn't a problem.
And I am not goint to google a bunch of hollow facts supporting Kerry because anyone with access to google can do that.
The whatever stats you provided, if they are any indication of the true condition of the economy, only applies to the short term. Bush's reckless spending is going to haunt America in the next decade. Future taxpayers will shoulder most of the burden. I don't believe Kerry will turn around the deficit during his term but at least he doesn't think that the deficit isn't a problem.
And I am not goint to google a bunch of hollow facts supporting Kerry because anyone with access to google can do that.