Plus they slashed their corporation tax rate and made their financial system more corporate-friendly.
Why Ireland Lyle ?
Printable View
Plus they slashed their corporation tax rate and made their financial system more corporate-friendly.
Why Ireland Lyle ?
Because what they did and what happened with their economy destroys everything you believe in regarding taxes.Quote:
Originally Posted by Kirkland Laing
In what way?Quote:
Originally Posted by LyleBecause what they did and what happened with their economy destroys everything you believe in regarding taxes.Quote:
Originally Posted by Kirkland Laing
In that it boosted their economy, the continuation of that boost would happen if they lowered the taxes for the average everyday person therefore freeing up more for them to spend on things like houses, appliances, etc.....sales taxes give to the government too and if people spend more then they pay more sales tax and therefore the tax revenue increases
BTW why do people who don't trust the government always want MORE government??? Like why the fuck would Louis Farrakahn support Barrack Obama a DEMOCRAT which means HUGE federal government
How does it mean that I don't know what I'm talking about re. taxes ?Quote:
Originally Posted by Lyle
And how did you find out about this? Where did you bump into this information?
You do realise that the Bush administration has grown the federal government by more than any other presidency, right ?
Yes I do recognize that the Bush Administration has grown the government to a huge extent. I don't agree with what he has done with that.
Re: taxes, I'm just giving you the way I view things....you apparently don't understand how much Americans dislike taxes
An emerging economy attracting foreign investment by cutting corporation tax cannot be compared to a $13 trillion advanced/mature economy.Quote:
Originally Posted by Lyle
You feel overtaxed because over the last three decades the overall tax burden has been shifted from the top-earning <1% of Americans to middle/low income earners. You're paying a bigger chunk of the tax burden than you should be.
.....note to Kirkland, America has never and WILL NEVER like being taxed.
What you say may or may not be true however historically speaking Americans don't like high taxes
Who does ?Quote:
Originally Posted by Lyle
All of Europe
Comment Withdrawn
European governments raise enough taxes to match spending. Since Reagan (apart from Clinton) US governments have slashed taxes for the wealthiest <1%, creating stratospheric deficits and exponential growth of the national debt. The true measure of US fiscal nutjobbery can be seen in the tax policies and results under the current administration.Quote:
Originally Posted by Lyle
Let's not get on the whole deal about taxes again...supply side economics works. Spending SHOULD be cut and that's obvious but taxes don't need to go up.Quote:
Originally Posted by Kirkland Laing
Our debt is our leverage with China...we're like a high roller in Vegas and they are the House they COULD break our legs but that won't get them their money any faster if at all AND if we welch on our debt the WORLD economy goes down the shitter....so the way I see it America holds the cards debt or no debt
Did you ever ask yourself....why would a country with a deficit (especially as big as the US deficit) benefit from a weak dollar?
The thing is a dollar is a dollar it doesn't matter how much it is actually worth if you owe someone a dollar and the dollar is worth 1/2 of the Euro or worth 1/80th of the Euro you still owe them only $1.
Devaluation of money is how Germany paid it's WWI debts....the US could, I am not saying it will but it COULD pay off a ton of debt very cheaply right now.
There is no evidence that supply side economics works. Not a single member of Bush's council of economic advisors would endorse his tax cuts as no credible economist believes supply side economics is anything but snake oil. BTW, Bush's council of economic advisors is currently down to one economic advisor, the rest having resigned and nobody credible willing to take their places. Tells you all you need to know about supply side policies right there.Quote:
Originally Posted by LyleLet's not get on the whole deal about taxes again...supply side economics works. Spending SHOULD be cut and that's obvious but taxes don't need to go up.Quote:
Originally Posted by Kirkland Laing
Our debt is our leverage with China...we're like a high roller in Vegas and they are the House they COULD break our legs but that won't get them their money any faster if at all AND if we welch on our debt the WORLD economy goes down the shitter....so the way I see it America holds the cards debt or no debt
Did you ever ask yourself....why would a country with a deficit (especially as big as the US deficit) benefit from a weak dollar?
The thing is a dollar is a dollar it doesn't matter how much it is actually worth if you owe someone a dollar and the dollar is worth 1/2 of the Euro or worth 1/80th of the Euro you still owe them only $1.
Devaluation of money is how Germany paid it's WWI debts....the US could, I am not saying it will but it COULD pay off a ton of debt very cheaply right now.
The US can't get out of its debt by inflating the dollar because it needs to sell a trillion dollars of new treasuries every year to finance its ongoing deficits. If the Fed devalues the dollar then foreign creditors will ask for higher and higher rates of interest to cover the capital losses of a depreciating dollar and if they don't get them they'll invest in the Euro leaving America screwed or having to deal with double digit interest rates. You'd also have to deal with huge increases in import prices, making a trip to Wal Mart cost like a trip to Nordstrom. Either way the economy gets fucked.
We're just going to have to agree to disagree because I'll debate you all friggin day about supply side economics. Ireland cut taxes and bam instant economic upturn, they might not have done enough to continue that trend but they were at one point on the right track.
China and everyone else with any portion of America's debt can't call us on it because as I said before the WORLD ECONOMY hangs in the balance