Aa
Ok, there was a post encouraging Americans to vote. Any thoughts on the results?
I have been out of work for a while now because of the hep c and tx, so I have spent quite a bit of time watching the progress of the elections in the USA. It was so heartwarming to see the positive reactions to the elections from so many parts of the world. However, I do know our media can be biased, and I'm sure there were some very negative responses in the world, but I found it a moving event. He is only a man and I hope he can hold on to his ideals for American and our children but, as we all know "power corrupts and absolute power corrupts absolutely."
Wilful
Wilful
"Using the last eight years as an example, most people have not done better, so Kudlow is proven wrong."
Not true.
*Between 2001 and 2007 alone the number of Americans with a net worth of more than 1 million quadrupled from 201 million, to 8.9 million! (TNS Financial Services)
* From 1994 to 2004 Americans in bottom 20% income had the HIGHEST increase in incomes. The poor got richer faster than the rich did. (Congressional Budget Office)
1994 was the year that the Republicans swept into congress. Under Newt Gingrich they passed a bill to balance the budget and to Bill Clintons credit, he signed it. (He still gets credit for the whole thing to this day)
* Bush tax cuts actually increased revenue into the US Treasury! That is what supplyside does. It is a win for all.
Besides, one should not judge supplyside on just the last 8 years. (Us conservatives are just sick that Bush let spending get out of control by not vetoing those spending increases)
One should look at supplyside from an historical aspect. Supplyside was once a stricly democratic strategy! Republicans were against it! (especially during Eisenhousers reign)
Kennedy had it right, but the next 4 presidents, LBJ, Nixon, Ford, and Carter (2 dems and 2 Republicans) were complete economic idiots. Then came the Laffer curve (look it up), and Ronald Reagan reconstituted supplyside. Mistakes were made along the way, but every American has prospered and America was once again an economic superpower.
Now, you say Obama wants to balance the defecit. Fair enough. History shows us his plan to do so will not work. His plan is to raise taxes on companies while increasing spending on entitlements.History shows us that will be disaster! LBJ did it, Carter did it, and things were awful for everybody. Obama ran on change, but that does not equate to anything new. He talks about the failed policies of the last 8 years, but plans to pull the failed (and much worse failures) of the last 50 years out of the closet.
Not true.
*Between 2001 and 2007 alone the number of Americans with a net worth of more than 1 million quadrupled from 201 million, to 8.9 million! (TNS Financial Services)
* From 1994 to 2004 Americans in bottom 20% income had the HIGHEST increase in incomes. The poor got richer faster than the rich did. (Congressional Budget Office)
1994 was the year that the Republicans swept into congress. Under Newt Gingrich they passed a bill to balance the budget and to Bill Clintons credit, he signed it. (He still gets credit for the whole thing to this day)
* Bush tax cuts actually increased revenue into the US Treasury! That is what supplyside does. It is a win for all.
Besides, one should not judge supplyside on just the last 8 years. (Us conservatives are just sick that Bush let spending get out of control by not vetoing those spending increases)
One should look at supplyside from an historical aspect. Supplyside was once a stricly democratic strategy! Republicans were against it! (especially during Eisenhousers reign)
Kennedy had it right, but the next 4 presidents, LBJ, Nixon, Ford, and Carter (2 dems and 2 Republicans) were complete economic idiots. Then came the Laffer curve (look it up), and Ronald Reagan reconstituted supplyside. Mistakes were made along the way, but every American has prospered and America was once again an economic superpower.
Now, you say Obama wants to balance the defecit. Fair enough. History shows us his plan to do so will not work. His plan is to raise taxes on companies while increasing spending on entitlements.History shows us that will be disaster! LBJ did it, Carter did it, and things were awful for everybody. Obama ran on change, but that does not equate to anything new. He talks about the failed policies of the last 8 years, but plans to pull the failed (and much worse failures) of the last 50 years out of the closet.
What the rest of the wold thinks of us has an impact on your kids.
Kennedy certainly acted like a supply sider and his tax cuts had a very positive impact on the economy. Before his tax cuts, the tax code was very unbalanced with a huge bias against high income wealthy people. His cuts balanced the taxes and the economy improved.
Bush again cut taxes on wealthy people at the same time he increased spending. Now we have deficits, an unbalanced tax code and a financial disaster. Obama wants to eliminate the deficit and balance the tax code. I think that is the right thing to do.
I don't know what you mean by our constitution hanging by a thread.
I do watch Kudlow frequently and enjoy his commentary. Using the last eight years as an example, most people have not done better, so Kudlow is proven wrong. Supply side economics work when we have a supply side problem. Now we have a consumption side problem and supply side fixes will make it worse, not better.
Kennedy certainly acted like a supply sider and his tax cuts had a very positive impact on the economy. Before his tax cuts, the tax code was very unbalanced with a huge bias against high income wealthy people. His cuts balanced the taxes and the economy improved.
Bush again cut taxes on wealthy people at the same time he increased spending. Now we have deficits, an unbalanced tax code and a financial disaster. Obama wants to eliminate the deficit and balance the tax code. I think that is the right thing to do.
I don't know what you mean by our constitution hanging by a thread.
I do watch Kudlow frequently and enjoy his commentary. Using the last eight years as an example, most people have not done better, so Kudlow is proven wrong. Supply side economics work when we have a supply side problem. Now we have a consumption side problem and supply side fixes will make it worse, not better.
I really don't care much what the rest of the world thinks of us. I care about my kids. Our constitution is hanging by a thread.
I'm in Bangkok. Yesterday a serious faced monk asked where we are from, then replied,"Obama, Obama, Obama."
The U.S. standing in the world has improved but Obama isn't superman.
The U.S. standing in the world has improved but Obama isn't superman.
Well, we are in agreement on P and R! I will try to give Obama a chance to handle this mess without prejudgement on my part. I am a believer in trickle down economics though. Democrats have been railing against supply side (trickledown) for decades, (with the exception of John F. Kennedy who believed in it). Supplyside got us out of the mess of the Jimmy Carter recession.
(Larry Kudlow, CNBC says...)
"History shows that reducing tax rates on the attendant incentives to economic behavior produces not only economic booms, but booms in tax collections from upper-income earners. It also creates jobs. When these principals have been tried, all Americans have done better economically. Supplyside in a nutshell, 1. Strengthen the value of the dollar 2. Keep marginal tax rates low. 3. Drill baby, drill...."
Somehow, I don't see Obama doing this....
(Larry Kudlow, CNBC says...)
"History shows that reducing tax rates on the attendant incentives to economic behavior produces not only economic booms, but booms in tax collections from upper-income earners. It also creates jobs. When these principals have been tried, all Americans have done better economically. Supplyside in a nutshell, 1. Strengthen the value of the dollar 2. Keep marginal tax rates low. 3. Drill baby, drill...."
Somehow, I don't see Obama doing this....
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