Nizzle,
The comment wasn't directed to you, it was in reference to a different conversation.
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And I have no problem paying taxes as long as the money is spent responsibly on something worthwhile
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^^My point exactly, why are you posing this as an argument? Almost every time I discuss economics on this board I mention the out-of-control spending of Bush. I have yet to change my position nor offer a different one.
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If you want to assert that giving rich people more money leads to more advantages to the poor
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^^You're trolling here..... I did not say that. I do not believe nor do I propose demand-side cuts to stimulate growth. Way off topic on this one. Demand-side cuts, if they were to occur, would not be to stimulate the economy, it would be to lower the burden.
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Let's stick with the Supply-Side argument that spawned this thread. Your assertion is that by making rich people richer, that they will pass this wealth on to the average worker by raising wages and creating new jobs, instead of hording it jelously and still lobbying for legislation to axe workers safety, rights, and wage regulation. Does that about sum it?
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Trolling (again) aside, my point was simple. If you look at the economic predictions that were used to justify the tax cuts, you will see that they came true.
Prediction: Lowering income taxes will actually increase tax revenue.
Outcome: Income tax revenue decreased while corporate tax revenue increased. This was followed by an increase in tax refunds and later, an increase in income tax receipts.
Prediction: The deficit will improve not get worse.
Outcome: It did get worse before it got better, but that is o.k. because of the corresponding interest rates. Now it is trending towards the prediction, which is what we want to see (i.e. deficit below projections).
Could something else have caused the recent economic growth?
Sure.
But by admiting to this you have to also admit that the outcomes followed predictions close enough that it is entirely possible that this was the result of the cuts.
I have no problem discussing this further, but not in the manner in which you presented yourself here.