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Re: OT Tax Cuts increase revenue/cut deficit
Scott in Florida wrote:
[color=blue]
>Great Republican Leadership.[/color]
According to economists who are paid to be right rather than be
political, the growth comes primarily from great corporate profits,
increasing income inequality, and pump priming from huge federal
deficits. Middle class incomes have fared poorly in comparison.
These federal deficits aren't causing inflation, unlike those of the
1960s and 1970s, because American workers no longer have pricing power,
thanks to immigrant and Chinese labor.
The multiplier for tax cuts still remains 0.7, not > 1 as radical
supply siders would want us to think. Even Paul Craig Roberts, Deputy
Secretary of Treasury in the Reagan administration, doesn't approve of
these Bush tax cuts.
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