Quote:
Originally Posted by Jim in CT
" disagree with them on the economics of recovery from the recession. "
OK, so I assume you mean that you think we need taxes on the wealthy.
Zimmy, PLEASE share numbers with me that support the notion that taxes on the wealthy will even put a small dent in our fiscal mess.
You're in a tough spot here, Zimmy. Because I think long, hard, and rationally before I form my opinions. And in this case, my opinion is based on hard, irrefutable facts. All liberals have is ideology.
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Apparently you have thought long and hard so this might be hard for you to understand; most economists say the last thing that should be done in a recession is cuts. The economy needs an influx of money and people need jobs. Your major cuts idea would intially lead to the loss of 100,000's of jobs at a time when the economy needs people to spend money. Taxes on the wealthy would not fix the problem, but returning to the tax policies considered reasonable under Reagan, Bush 1, and Clinton would do a huge amount toward rudicing the yearly deficit, which would increase consumer confidence. Long term deficit reduction requires cuts and a reduction in tax loopholes. There is no plan that gets us out of the deficit without tax increases. WHen I bring that up here, the response from many is that we have to cut first. I disagree. Go back to what I started with: many, many economists say that the last thing you should do during a recession is cut. The tea party types mix anger and frustration about taxes with the current economic situation. They are two different things. A recession does not end by cutting. Long term deficit reduction could be done with cuts and increases in taxes.