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tax cuts don't work - Is any one really surprised

Magyar

Graduate Poster
M
Joined
Oct 16, 2004
Messages
1,906
The main takeaway, after a rigorous analysis of each major rate reduction since 1945: "Changes over the past 65 years in the top marginal tax rate and the top capital gains tax rate do not appear correlated with economic growth. The reduction in the top tax rates appears to be uncorrelated with saving, investment and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie."
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Of course any one with an once of honesty and half a brain has been well aware of this since at least the middle of the 1980's, but still we will have all the usual rabid appoligist try to spein this with defining/redifining the middle and taxes and tax cuts and what other word that could possible be re interpreted to fit their delusions.

So let the spin begin. I guess the only surprise will be to see just what kind of pretzels they will twist themselves into

http://www.nydailynews.com/blogs/the_rumble/2012/09/tax-cuts-for-the-wealthy-the-inconvenient-truth


And of course when all esle fails it will be liberal media and attack the source and the messenger. I am sure we'll find out that one of the authors grandfathers cusins uncle twice removed had donated a $1 to the communist party or great evil like that.
 
sir drinks-a-lot said:
Read up on burden of proof.

I'm sure I could go to a conservative website, find an article with statistics saying that tax cuts work, and then post it like the OP did. But, you can do this for yourself if you'd like.
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Exactly. That's what's done a lot around here.
 
You really don't need a complex survey to figure this out.

We've had the Bush tax cuts for over ten years. The economy tanked in 2008 and hasn't recovered yet, even though those tax cuts have been in place all the time.

If someone wants to claim, "there are other factors", then they should admit that there are other factors now too, and tax cuts are no more likely to fix the economy than they did the last time.
 
sir drinks-a-lot said:
Read up on burden of proof.

I'm sure I could go to a conservative website, find an article with statistics saying that tax cuts work, and then post it like the OP did. But, you can do this for yourself if you'd like.
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Can you tell us what's wrong with this study?
 
sir drinks-a-lot said:
Read up on burden of proof.
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Resolved: Tax cuts on the wealthy lead to job creation and economic growth.

Case against:


Empirical evidence: It hasn't worked that way since at least the '40s. It's not working that way now.

Theoretical evidence: If the theory that tax cuts to the wealthy makes increasing production (opening factories, creating jobs, etc.) more profitable, and that because it's more profitable it will necessarily lead to increased production, then what do we make of the fact that corporate profits are at record highs? If the theory that tax cuts to the wealthy free up more capital and will therefore necessarily lead to increased production, then what do we make of the fact that corporate cash reserves are at record highs?

OK. The burden of argumentation is now all yours.

My position is that increasing profitability and having available capital are necessary but not sufficient conditions for vigorous job creation. Currently, especially since tax rates are already very low, this is not the obstacle to vigorous job creation. The obstacle is uncertainty due primarily to brinksmanship in Congress, especially over the ability to do their routine job (passing budgets, raising debt ceiling as necessary) and their ability to deal with the long term debt problem.

Meanwhile, what is driving continued high unemployment is government shrinkage (loss of public sector jobs).
 
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TellyKNeasuss said:
Can you tell us what's wrong with this study?
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Of course he can't - unless you count Rush and some right wing think tanks,

as I predicted, Can't repudiate the evidence
Just ignore it,
Question it's credibility - after all the CRS is part of the eeviiiii gumbit so nothing they say can be trusted.
 
I believe the theory to support the OP is that tax cuts for the wealthy is going to into various savings accounts, stock market, and other such things, rather than actually purchasing the things that all those other things are supposed to finance to build. So more money to build things that don't have customers.

Then there is the data, which has supported the OP for a long time. At least since the 2001 recession.
 
sir drinks-a-lot said:
Heh. I love it.

This is like having a YEC ask you to explain evolution.
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I could give a reasonably good explanation of evolution in about three paragraphs, along with some evidence.

You could at least try to explain what's wrong with this study. Sneering rejoinder ain't workin'.
 
Weak, very weak.

"Some studies find that a broad based tax rate reduction has a small to modest, positive effect on economic growth. Other studies have found that a broad based tax reduction, such as the Bush tax cuts has no effect on economic growth. It would be reasonable to assume that a tax rate change limited to a small group of taxpayers at the top of the income distribution would have a negligible effect on economic growth."

Yep, believe it or not, he just assumes the conclusion that is being trumpeted by Obama supporters. Well, heck, I can "prove" a lot of stuff if you just let me make the assumption that the proof is true.
 
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