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Re: Most GOP Presidential Candidates Would Increase the Deficit 

By: Zimbler0 in POPE | Recommend this post (1)
Sun, 26 Feb 12 7:52 PM | 41 view(s)
Boardmark this board | (The) Pope's for real stock market report 		Msg. 52068 of 65535
(This msg. is a reply to 52055 by clo)
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Clo> zimbler, any person that can add, knows if you reduce taxes you increase the deficit.


Dear Clo,
You don't really expect me to believe the crap you
post, do you?.

Rumor has it, that the Reagan tax cuts resulted
in an increase in tax revenues.

And, the Bush tax cuts likewise increased tax revenues.

http://www.washingtontimes.com/news/2010/feb/3/bush-tax-cuts-boosted-federal-revenue/

By 2003, Mr. Bush grasped this lesson. In that year, he cut the dividend and capital gains rates to 15 percent each, and the economy responded. In two years, stocks rose 20 percent. In three years, $15 trillion of new wealth was created. The U.S. economy added 8 million new jobs from mid-2003 to early 2007, and the median household increased its wealth by $20,000 in real terms.

But the real jolt for tax-cutting opponents was that the 03 Bush tax cuts also generated a massive increase in federal tax receipts. From 2004 to 2007, federal tax revenues increased by $785 billion, the largest four-year increase in American history.
>>>

Zim: Note: I have a theory that there is a
'taxation sweet spot'. A tax rate which results in
maximum tax revenue with a healthy level of economic
activity.

Zim.




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Re: Most GOP Presidential Candidates Would Increase the Deficit
By: clo in POPE
Sun, 26 Feb 12 7:23 PM 		Msg. 52055 of 65535

zimbler, any person that can add, knows if you reduce taxes you increase the deficit.

The nation's debt load is typically measured as a portion of the economy, or gross domestic product — with 60% being an internationally accepted level of debt. The United States' so-called public debt, which excludes transfers among government accounts, is about 70% of GDP.

Under Obama, the public debt is expected to rise over the decade, to 80% of GDP, according to an earlier analysis by the group. It based its projection on his proposals, including ending the George W. Bush-era tax breaks for those earning beyond $250,000 a year. 

For its analysis of the GOP candidates, the group compared campaign proposals to existing policies, and those it assumes will occur, including the continuation of the Bush-era tax cuts. Under that baseline, the group said, the debt would reach 85% of GDP by 2021.
Gingrich has noted that the federal budget was balanced when he was House speaker. But the budget group said the policies he's promoting now, including spending on space exploration, would increase the national debt by an additional $7 trillion over the baseline over the next decade to 114% of GDP. Santorum's policies would drive up the debt by an additional $4.5 trillion, to 104%.

Romney's proposals would increase public debt to between 85% and 96% of GDP, depending on the level of new revenue his proposals could generate in addition to the new tax policies he announced this week, the budget watchdogs said. 

Only the proposals from Paul, the libertarian Texas congressman, would reduce the debt from current projected levels, by $2.2 trillion, to 76% of GDP.
The budget group didn't take into consideration the Republicans' proposals to slow Medicare costs, because the effect of those changes would be at least a decade away.

http://articles.latimes.com/2012/feb/23/nation/la-na-gop-candidates-deficit-20120224

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