Tax Cuts Better for Politicians Than for Economy

truthskr10, seems like there's no limit is not the same thing as no limit. I guess it's the same thing as no matter how high the tax on the rich is, it seems like they still get richer and the poor get poorer... It only means the limit has not been reached. In the mean time, it's the people who are caught in the middle that suffers the most...

People with household incomes of $250K+ voted 50% to 48% in favor of Obama, so I say let Obama raise their taxes!

And the economy doesn't need any more stimulus; our economic problems are structural. The average wage in China is less than $5000/year, and no amount of stimulus is going to change the fact that it's a lot cheaper to pay Chinese worker than U.S. workers. U.S. stimulus just increases demand for Chinese labor.

Sunday
My post was more to abuse Nello's and their 50 dollar pasta and $25 cocktails. :)

And by the way, Reagan didn't really cut taxes so much as he lowered marginal rates but also closed loopholes, such that the effect was revenue neutral, but the tax code was much improved as a result. I'm 100% in favor of increasing tax revenue by not raising rates, but by closing loopholes instead. Loopholes cause a lot of inefficient economic activity designed to game the system rather than to create real value; a system with loopholes rewards game-players and tax attorneys. We should figure out what the tax rate needs to be to fund the government, and say "this is the tax rate, there's no way out of it, pay up."

AND what Reagan did was help close the gap on the undeground economy.
When your asked to pay a "reasonable" tax rate, you find more people declaring for peace of mind and legitimacy.
The more tax rates will go up, the more cash business will explode, which will also put more pressure for the economy to decline.

And for any of you voters in the 15th district, if you are voting for Charles Rangel would like to hear your explanation why.

Because Charlie knows how to get a decent rent-stabilized apartment.

Or two or three.