"Hawke" wrote in message
...
On 3/30/2011 1:33 PM, jim wrote:


"John R. Carroll" wrote:

Ed Huntress wrote:
"Stormin wrote in message
...
Some folks in Washington project things based on static
economy. "Well, we make a trillion dollars in taxes. Double
the taxes, and we'll make two trillion."

What they don't realize, is that when taxes go up, people
say "I guess we won't buy that after all, we'll keep using
the old one."

Raising taxes, after some point, lowers actual revenue.
Ronald Reagan recognized that, and that's part of why his
Presidency was so successful.

Reagan ran up the national debt by deficit spending:

http://en.wikipedia.org/wiki/File:US...residen t.jpg

The budgets that Reagan requested during his terms were HIGHER than
the ones that Congress approved:

http://zfacts.com/p/318.html

You've been breathing their blue smoke, Chris. Reagan ran a deficit
even when the economy was improving -- a no-no, according to
everything that was known about economics at that time, and a no-no
under Keynesian theory.
That's why the GDP and employment kept improving. Reagan put us on
that big credit card, and he didn't even try to pay it down when the
economy turned up. Neither did either of the Bushes. Only Clinton did.

Not true, Ed.
Bush 1 recognized the problematic direction the budget was headed in and
raised taxes significantly.

The govt debt increased under Bush1 as fast as under Reagon. By the time
those 12 years were done they had created 3 times more debt than all
debt combined of all the presidents preceding.


When you know that to be the truth it really makes you wonder at the balls
of the current republicans in congress. With that kind of a track record
of spending far more than they take in, where do they come off acting like
they are the financially responsible party? Well, actually they are the
responsible party. Yeah, the party responsible for most of our debt. Now
they want us to believe they're not really big spenders and they aren't
the direct cause of most of our debt problems. How many times do I have to
say it? If you believe what they republicans say about finances then
you're an idiot. Actually, if you believe anything they say you're an
idiot.

Hawke

They're trying to regain the mantle of being the fiscally conservative
party, which they were at one time but which they completely abandoned under
Reagan. When you're in a recession with high unemployment, it's not
difficult to play the demagogue and win votes from people who are looking
for anything that sounds like an answer.

It's a good time, politically, to revive all of their old chestnuts. They'd
resurrect Herbert Hoover if they could. d8-)

I wonder if they actually know better, and are just playing on the lack of
economics education on the part of most voters, or if they actually believe
their nonsense. I'm not sure. Most likely, it's some of each.

--
Ed Huntress