Re: ??? -- Adilbrand Noblesword's Hall of Warriors

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Date Posted: 23:40:58 03/28/04 Sun
Author: mt. healthy mountaineer
Subject: Re: ???
In reply to: stu 's message, "???" on 18:46:32 03/28/04 Sun

Stu, remember your high school government class? the Congress passes all budgets. In fact, all spending bills must originate in the House of Reps - the House was controlled by the Dems until 1994.

It would be most fair to see that both Reagan (Republicans) and the congress (Democrats) created the deficit and both Clinton (Democrat) and the Congress (Republicans) eliminated it. Of course, the second would be a lie since in the 1990s budgetary growth far outpaced inflation so, in reality, the deficit was eliminated during the 1990s by phenomenal economic growth, esp. with tech stocks (capital gains taxes) that went bust after 2000. It was not eliminated by budget wizardry of any kind.

Als, Stu, remember your high school econ class? How does a high deficit help Wall Street during the 1980s? Adilbrand pointed out quite correctly that when the government sops up extra lending power it hurts the economy. I think he has failed, in his arguments, to apply the same logic to taxes and conclude the if the government is sopping up personal income it hurts the economy as well. Freeing up personal income (lowering taxes) should increase consumer spending and boost the economy. It worked with JFK and Reagan. It is similar to the theory of FDR and Hitler (and no, I'm not implying anything) in the Depression when they started massive public works programs just to get some money moving in the economy - its just that the Supply Side theory is hyper-decentralized.

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Replies:

Taxation logic is hard to quantify at times -- Adilbrand, 09:55:12 03/29/04 Mon
- Hey! I agree with you down here, too, Adilbrand. (NT) -- Mt. Healthy Mountaineer, 18:32:18 03/29/04 Mon
REAGANomics (NT) -- stu, 16:12:52 03/29/04 Mon
- Hey, if you're going to leave one of those (NT) responses, make it clear what you're trying to say! (NT) -- Mt. healthy Mountaineer, 18:36:05 03/29/04 Mon