Tax cuts don't make basic economic sense - Politics Forum.org | PoFo

Wandering the information superhighway, he came upon the last refuge of civilization, PoFo, the only forum on the internet ...

"It's the economy, stupid!"

Moderator: PoFo Economics & Capitalism Mods

Forum rules: No one line posts please.
#15117785
If tax cuts boost economic growth, then the added taxes will do just the opposite when it comes time to pay it back.

Taking on debt to give tax cuts may not be such a good idea.

How can you use "more economic growth" to justify tax cuts when those tax cuts are paid for by more borrowed money?

And here's something to consider:
There were six times in US history in which budget surpluses were achieved for long enough to retire a significant amount of debt. Five of those were followed by depressions, the last of which culminated in the Great Depression of the 1930s.
When you start taking money out of the economy to pay down debt (either through higher taxes or less government spending) that starts causing the economy to contract.
What I'm saying is it's going to be very difficult to pay down this debt, and in the meantime time just the costs of servicing it are going to eat away a substantial chunk of the government budget.

Of course the root of the problem wasn't trying to get out of debt but getting into it in the first place.
#15126528
Many of these tax cuts are just give always to the rich anyway. The claims of economic growth are just to provide an ideological justification for it.
#15126530
Tax cuts are an excuse to cut programs that earlier presidents established. Or a president might think that if less spending is on education, more money can be allocated towards the defense department. Money gets wasted on travel though so the cuts are not beneficial.

Every living president should be executed. The re[…]

@Godstud I doubt that's true. There was a whi[…]

@Godstud No it's not! Anyway, even a great li[…]

Marxism is Oligarch Astroturf

:D https://twitter.com/BolshevikPotato/status/129[…]