Quote:
Originally posted by Vick@Jun 9 2003, 01:00 PM
ok now that Wig and Colin (as well as many other fine minds) are here please give me a little help (maybe you can figure out the formula if there is one)
Is the current tax cut (actually a rebate as checks are going to be sent out) going to stimulate the economy enough to offset the reduction in the actual tax base ($ the gov have to spend) ?
Will the tax cut add more revenues to the tax base due to growth the rebate will provide?
I'm under stand supply side and trickle down (and am a fan of both)
But I'm also a firm believer in tax cuts/rebates should be equal to reductions in spending - then we don't have the situation we had in the late 70's- early 80's where the USA ran at a huge deficit (which caused the USA to use up available funds which gave us some inflation and higher interest rates - to some degree)
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Vick,
I don't really know.
I am for tax cuts because I believe that the Federal Gov't wastes money on things that do not impact me and/or that I do not agree with.
I don't mind paying taxes, but I feel if the gov't was fiscally responsible, my tax rate would be lower so I am for lower taxes (actually would prefer consumption tax). I am against many of the areas that the federal gov't has its hands in and i do not think in many regards it serves the better good of the ppl like it's all cracked up to be.
It's all the principle of it to me.
However, being the calculating bastard that i am, I really don't care what happens. I just watch the motion and try and buy low and sell high. LOL