PearlWatson
Well-Known Member
Not true. Reagan rate cuts resulted in a roaring economy and a doubling in revenues by the end of his second term.
Reduce Spending and Raise Taxes?
- Thread starter GoJazz
- Start date
Not true. Reagan rate cuts resulted in a roaring economy and a doubling in revenues by the end of his second term.
Both sides want to slow deficit growth without causing an economic contraction. Conventional wisdom is that decreasing spending is contractionary. So is raising taxes. (Note: Painting it in the broadest terms possible, obviously not all spending cuts would be contractionary nor would all tax increases, but the bastardization of real economic theory leads to those points of conventional wisdom depending on your viewpoint).
Your position is unpopular because it's a contractionary double-whammy to the audience.
Honest question to test your knowledge in this period of US economic history vs. just parroting what someone told you. Without looking it up, do you know a) who Paul Volcker is, b) what he did during early 1980s, c) who appointed him, and d) who fired him?
Extra credit if you can figure out how Paul Volcker relates to revenue levels.
Mission Accomplished
Well-Known Member
This is the biggest problem is that we are going to continue to overspend unless we touch the big four. Social Security, Medicare, Medicaid, and Defense. So, yes we are still in big trouble until these are drastically changes. But, we cannot continue with the Bush tax cuts.
https://www.youtube.com/watch?v=ZhAO1RWCeEQ
My question to Tim Pawlenty is who are these people that he is talking to?
https://www.youtube.com/watch?v=ZhAO1RWCeEQ
My question to Tim Pawlenty is who are these people that he is talking to?
Mission Accomplished
Well-Known Member
https://www.youtube.com/watch?v=if88PgI-vfU&feature=related
This is talks about some real problems in mindsets.
This is talks about some real problems in mindsets.
Mission Accomplished
Well-Known Member
I love how most of these clowns sit around and push the drug. Which is spend, spend, spend, buy, buy, buy, debt, debt, debt, everything is going to make you rich don't worry about the future just line my pockets.
Everyone laughed in the face of the truth.
Those videos lost a lot of people money when they decided that Schiff was the sole Oracle of truth. He was becoming famous for sage financial advice at the same time that he was killing all his clients in the market.
For example, if you have a wsj account you can read: https://online.wsj.com/article/SB123327685671031439.html
trigg3r
Well-Known Member
His advice on gold was pretty solid. I will say that he is getting the last laugh when it comes to some of those guys calling him Dr Doom on those programs. At least Ben Stein came out and apologized to him and said he was right.
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Gyp Rosetti
Banned
Well if a serious analytical mind like Ben Stein agrees with Peter Schiff ...
Stein graduated with honors in economics from Columbia.
And has also gotten progressively crazier in the years since, becoming an evolution denier and one of the last people to trumpet subprime mortgages as a growth proposition as late as early 2008.
Put gently, Stein's political and economic philosophy could be called incoherent at best and absurdly cynical and calculating at worst.
And yes, I liked his game show.