patrick.net

The mortgage deduction is actually a subsidy of the real estate industry

We need tax cuts. The economy sucks.

Strategist says

We need tax cuts. The economy sucks.

The main reason the economy doesn't work well is that rich are monopolizing the money.
Moving farther in that direction is patently stupid.

Strategist says

Tax cuts came in early 1980's. Prosperity all the way to the Clinton era. That's 20 years.

We have now the exact opposite problem Reagan had in 1980 (low wage growth rather than inflation).
We need demand side economics, rather than supply side.
Only an idiot would apply the same methods to a different situation.

Heraclitusstudent says

Strategist says

Tax cuts came in early 1980's. Prosperity all the way to the Clinton era. That's 20 years.

We have now the exact opposite problem Reagan had in 1980 (low wage growth rather than inflation).

We need demand side economics, rather than supply side.

Only an idiot would apply the same methods to a different situation.

Tax cuts will put more money into people's pockets. People will spend more. You now have your demand side economics.

Strategist says

Tax cuts will put more money into people's pockets. People will spend more. You now have your demand side economics.

It will put most that money into the rich pockets which will change nothing and is purely a waste.
Instead we should raise taxes, especially on the rich, and spend that money on things we need, like infrastructures. This would have a much better economic return without debt.

Why borrow money from the rich to give them that money, when you can tax them, owe them nothing, and get something useful in the process?

Heraclitusstudent says

Why borrow money from the rich to give them that money, when you can tax them, owe them nothing, and get something useful in the process?

If you take away the incentive to produce you will get nothing. We will become a Cuba.

Strategist says

If you take away the incentive to produce you will get nothing. We will become a Cuba.

You have an incentive if you earn 10 times more if you work, you don't need 100 times more, or 1000 times more.
Hedge fund managers would be well motivated if they earned $1million, they don't need to earn $100millions.
Most of rich have done nothing to deserve their wealth. Holding assets like real-estate doesn't mean you deserve the capital gain.

Strategist says

The tax cuts will get the economy going again. Tax revenues will actually increase. Our deficits will actually go down. We will all be better off.

How come it never worked out that way before and the debt is going through the roof?

Heraclitusstudent says

Strategist says

The tax cuts will get the economy going again. Tax revenues will actually increase. Our deficits will actually go down. We will all be better off.

How come it never worked out that way before and the debt is going through the roof?

When would that be?