by kentm follow (0)
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Supply-side tax cuts worked for JFK. Then Reagan
What really worked for Raygun was a pretty healthy credit surge/bubble:
http://research.stlouisfed.org/fred2/graph/?g=1cb
Like Bush the Lesser, this was partially prompted by the Fed easing interest rates:
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http://www.reddit.com/r/politics/comments/irijc/dan_savage_in_50_years_taxes_have_never_been/
Dan Savage: "In 50 years taxes have never been lower. If Republican theories about the economy worked, we'd be having a boom right now. We're told over and over if you lower taxes people will create jobs, it will trickle down and they'll pee all over us and it never happens."
"Just to educate you americans; I live in Sweden, I pay almost exactly 25% income tax (the percentage rises with income, doctors and such (who makes double of what I'm making) pay up to 50% income tax.). And then I pay 25% sales tax on almost everything except food (12%), books (6%), culture like concerts, museums and such (6%).
I'm a high school teacher and make $2.900/month after income tax. I rent an 2 bdr apartment (860 sq ft) in a good neighborhood for $850/month. Gas prices are $8.43/gallon (14.43sek/liter). I have almost free (max cost is $137/year) health care, free education to PhD-level, a social safety net that actually works, 2 year unemployment security (80% of my normal income), almost free (max cost is $275/year) medication. Health and medication is free to the year you turn 20. And I retire when I'm 65.
So, my advice is: you should really pay more taxes. I just came back from a 3w trip in the states, driving from Miami up to N.Y. and I've seen some scary shit. You all say you are the richest country in the world. Let me tell you, you are NOT the richest country in the world. Not even close. I've never seen so much poverty and injustice. You really should take more care of each other. Your government needs more money because your sick and poor needs more money. And the republicans talk about "cutting down on spending". I say: cutting spending on what? You have seniors working the graveyard shift, people with bad mental health wandering the streets, homeless trying to sell bottled water and a "spit and shine" on the roads etc. Of course, you could stop going to war all the time, but that's apparently not going to happen anytime soon. Your government needs to spend MORE money. And you who can afford it, you should pay more taxes. A lot more."
...read on:
http://www.reddit.com/r/politics/comments/irijc/dan_savage_in_50_years_taxes_have_never_been/
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