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We don't just need tax cuts, though we need tax cuts. We also need spending cuts -- and more spending cuts than tax cuts, given our deficit situation.
And you're right about tax cuts not being the only problem. What we need to be concerned with is the overall size of government. If we cut taxes but spending stays high we still run up debt. And debt means future high taxes, because we eventually have to pay that debt off with interest.
Go ahead, tell me conservatism didn't reign for 30 years.
Small government is for third world countries. Civilized, advanced people require public institutions to organize, prioritize and direct resources. The weakening of government has led to our current crisis.
Do you advocate corporations with weak leadership? Schools with weak authority? Why do you think a society can function with no one in charge?
Yet here you are trying to blame negative developments on Obama's stimulus.
[quote]Obama has put us in a lose-lose situation.[/quote]
The situation we find ourselves in was there before Obama.
Of course it has. And it failed. Miserably. Perhaps you are confusing conservatism with anarchy. That's what people who call themselves conservatives advocate.
Some believe in this mythical form of society where there are no rules and no controls but everything magically works together in creating Utopia. Since it's never been achieved, least of all through the policies conservatives implement, the excuse is that it's "never been tried."
What conservatism has done is dismantle government, destroying it's effectiveness from the inside. That tactic accelerated greatly under republicans, particularly bush who intentionally made government weak and inept to reinforce the peoples' disgust with government. Of course the private sector was given free rein to completely fuck us over leading us to the awful place we're at right now.
Conservatives are like the guy who takes the helm of a company and intentionally destroys it for personal gain- a buyout, stock manipulation or to please some outside liquidators. In that way conservatives are far, far worse than any enemy this country might have. You could call them interrnal terrorists.
???
Since when did John Maynard Keynes become an advocate of supply-side economics?
Tax cuts are great, but the idea of cutting taxes while continuing to increase spending is a disaster. The government borrows and prints the difference and what exactly does that accomplish? Whatever you want to call it, it isn't conducive to economic growth.
I like EconLog and I like Cato, but some members of Cato & EconLog are supply-siders (typically neoclassical microeconomists who adopt keynesian lite views as far as macroeconomics). That's fine for 90% of economic analysis, but then you read stuff like this from Kling and, like Rob said, it doesn't make sense, because it is wrong.
The truth is, reducing marginal tax rates, especially on capital formation, helps generate the economic growth necessary to pay off the debt. It would, of course, be fiscally conservative to both reduce marginal tax rates and reduce govt spending, but one good thing is better than none.
So, it's far less a disaster to have tax rate reductions and increased spending than it is to have increased tax rates and increased spending, which is what Obama is doing now. He's disabling the ability to pay for the debt he is massively increasing. Now, that's a disaster.
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And who did not know this was going to happen. Barri told the world he was going to bankrupt American businesses and drive up the cost of all energy and food. And now leftards are surprised he is doing exactly that. What a bunch of fucking morons.
Since you have publicly stated you want to see America destroyed I have to conclude you support the stimulus because it will destroy America.
[quote]Trading of GM shares was halted early Monday after they plunged Friday as low as 74 cents. GM will be kicked out of the Dow Jones Industrial Average because rules of the index prohibit it from including companies that have filed for bankruptcy.[/quote]
The whole article is here:
http://www.foxnews.com/politics/2009/06/01/gene...
The reason trolls like Buzz and Dino (1, 2) like this is because the government is redistributing wealth and picking winners and losers. GM and Chrysler should have been allowed to wither and die on the vine.