tag:blogger.com,1999:blog-6616959642391988608.post8576132306807651355..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Tax and deficit scaremongeringScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger23125tag:blogger.com,1999:blog-6616959642391988608.post-61053293379841290822017-10-12T06:44:55.691-07:002017-10-12T06:44:55.691-07:00aadhar.download
check aadhar status<a href="http://aadhar.download/" rel="nofollow">aadhar.download</a><br /><a href="http://aadhar.download/check-aadhar-card-status/" rel="nofollow">check aadhar status</a>sarvanhttps://www.blogger.com/profile/03788207791678709051noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-35094774132637893512017-10-07T07:38:34.121-07:002017-10-07T07:38:34.121-07:00Re the GDP equation (GDP = C + G + I + NX). The eq...Re the GDP equation (GDP = C + G + I + NX). The equation makes sense, but only up to a point. Increase government spending is politician's favorite way of "stimulating" the economy, but it doesn't necessarily work. The key here is to realize that government can't spend more without taking resources from the private sector, which then has fewer resources. There is no free Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-3200858954697543372017-10-06T18:13:00.683-07:002017-10-06T18:13:00.683-07:00I wish canada would lower taxes like US is trying ...I wish canada would lower taxes like US is trying to do. We increased the top tax rate to 53% when we voted in a majority liberal government. And now they are going to bring thr hammer down on small incorporated businesses.<br /><br />So frustrating. <br /><br />Lower the taxes. It's healthy for everything.<br /><br />I would love to see this come though.<br /><br /><br />Alhttps://www.blogger.com/profile/01261213308707778791noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-24785955220376779612017-10-05T13:12:33.878-07:002017-10-05T13:12:33.878-07:00Tom: good pointTom: good pointScott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-76586337189820124012017-10-05T13:11:00.687-07:002017-10-05T13:11:00.687-07:00The Kennedy and Reagan tax rate cuts did wonders f...The Kennedy and Reagan tax rate cuts did wonders for economic growth but focusing on the chart that presents tax revenues as a percent of GDP hides the fact that growth did occur. <br />Tom Nugenthttps://www.blogger.com/profile/11869275021755483909noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-75671380524173703212017-10-05T11:18:45.611-07:002017-10-05T11:18:45.611-07:00Steve
The Dems are not playing a cat and mouse ga...Steve<br /><br />The Dems are not playing a cat and mouse game...nobody is talking to them! <br /><br /><br />The GOP wants to control all aspects of the legislation, there are no Dems on any meetings -- their input is unwanted. <br /><br />Frozen in the Northhttps://www.blogger.com/profile/04901959687094626879noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-49002185376762729222017-10-05T06:37:16.818-07:002017-10-05T06:37:16.818-07:00The GOP is caving on the deductability of state ta...The GOP is caving on the deductability of state tax. Without that exclusion there is no tax bill. You guys are deluded if you think anything close to this will pass. The GOP can't agree on a damn thing and you think something significant will pass? Get real. IF anything passes-and I have serious doubts-perhaps a reduction in corporate rates and an increase in exemptions. Big freakin deal. No stevehttps://www.blogger.com/profile/07387986994469835875noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-90078222046183730602017-10-05T00:07:40.389-07:002017-10-05T00:07:40.389-07:00This is from a fellow named Lars Christensen, and ...This is from a fellow named Lars Christensen, and I think maybe right. <br /><br />"Contrary to the perception of many policymakers and commentators, we use an econometric study of 10-year bonds in 21 countries since 2000 to show that yields have not been driven lower by lax monetary policy.<br /><br />Instead, the decline has been driven by three factors: low inflation expectations, ageing Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-56577548279727130412017-10-03T09:26:14.949-07:002017-10-03T09:26:14.949-07:00As an experimental scientist, I'm going to be ...As an experimental scientist, I'm going to be cautious about data that is affected by so many input variables. But, ignoring that caution for the moment... <br /><br />Chart 1 tells me, as Scott says, that income tax revenue is fairly insensitive to top marginal tax rate. (Given this info only, I'd argue that lower is better.)<br /><br />Chart 2 tells me that debt can be reduced over an Charliehttps://www.blogger.com/profile/04163738909524521887noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-20406671065133751862017-10-03T09:20:37.097-07:002017-10-03T09:20:37.097-07:00The entire deficit and growth argument seems like ...The entire deficit and growth argument seems like a red herring to me. In reality, the Triffin dilemma explains all that is needed at the moment. The Triffin dilemma is the conflict of economic interests that arises between short-term domestic and long-term international objectives for countries whose currencies serve as global reserve currencies. Basically, the deficit and debt have to continue Thinking Hardhttps://www.blogger.com/profile/11528747799967719972noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-71056828624216673842017-10-03T09:01:02.394-07:002017-10-03T09:01:02.394-07:00One point I'm making here is that lowering tax...One point I'm making here is that lowering tax rates is not necessarily bad. I'm not arguing at all that deficits are good. But I would add that deficits that result from a reduction in tax rates can end up being a good thing, if the lower taxes boost investment and productivity. The Obama deficit was driven primarily by government spending, and I have always argued that increased Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-85265100502927893542017-10-03T08:19:00.960-07:002017-10-03T08:19:00.960-07:00I'm sorry I have a really hard time taking you...I'm sorry I have a really hard time taking your column seriously today. During the Obama years you were Deficits are bad, deficits ar bad. Now that its Republicans in charge deficits are ok! <br /><br />What you mean is deficits are OK as long as I get my tax cuts...I get that <br /><br />Hypocrite!Frozen in the Northhttps://www.blogger.com/profile/04901959687094626879noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-77709836315862336092017-10-03T07:02:16.192-07:002017-10-03T07:02:16.192-07:00Reagan tripled the national debt
Obama doubled th...Reagan tripled the national debt<br /><br />Obama doubled the national debt.<br /><br />The true burden of the debt is not the % of GDP, <br />it is the annual interest payments.<br /><br />Since there is almost no chance that any of the debt will be paid back <br />(rolled over, yes paid back, no), there is no sense to growing the debt so fast<br />BEFORE the huge burden of financing senior The Cliff Claven of Financehttps://www.blogger.com/profile/13541954550199246606noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-73725473084631445902017-10-03T07:01:09.923-07:002017-10-03T07:01:09.923-07:00This comment has been removed by the author.The Cliff Claven of Financehttps://www.blogger.com/profile/13541954550199246606noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-78399124780350595182017-10-03T00:27:34.583-07:002017-10-03T00:27:34.583-07:00Well said. Thanks for the easy explanation of the ...Well said. Thanks for the easy explanation of the article.<br /><a href="https://www.shine.com/job-search/" rel="nofollow">Jobs</a><br /><a href="https://www.shine.com/" rel="nofollow">Job</a>Sophie94https://www.blogger.com/profile/16090087545450162049noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-80460688132341180472017-10-02T21:05:00.358-07:002017-10-02T21:05:00.358-07:00Scott, I tend to agree very closely with most of w...Scott, I tend to agree very closely with most of what you write regarding the direction of the economy and current conditions. However, I don't find your first chart convincing. Cutting the top rate that nobody paid, to a rate that perhaps more were willing to pay, while eliminating loopholes, seems a long way from demonstrating that reductions in the top individual rate drive increased AmericanFoolhttps://www.blogger.com/profile/16633144268215290058noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-86680866278898793432017-10-02T19:16:12.107-07:002017-10-02T19:16:12.107-07:00WELL SAID, Scott Grannis!!WELL SAID, Scott Grannis!!Johnny Bee Dawghttps://www.blogger.com/profile/06836875640973245734noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-68017767243959064812017-10-02T17:01:10.079-07:002017-10-02T17:01:10.079-07:00Re the top 1%. Those who pay the top tax rate are ...Re the top 1%. Those who pay the top tax rate are wealthy, no argument there. But they are also the ones who can make the biggest difference if allowed to keep more of what they earn. Regardless, it is almost always the case that when the top rate is lowered significantly, so are all the other rates—so this chart is a valid representation of important changes in tax rates that can have huge Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-84579681524371344642017-10-02T14:51:46.302-07:002017-10-02T14:51:46.302-07:00The first chart is extremely misleading because of...The first chart is extremely misleading because of the small population that actually pay the top tax rate. This is akin to claiming everyone can run the marathon in around 2 hours because Olympic distance runners can do this.<br /><br />Furthermore, the small population that do pay the top tax are the wealthiest Americans. Lowering the top tax rate will benefit them and no the majority that 狂猪https://www.blogger.com/profile/16599529315620633684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-90738189542588095232017-10-01T15:14:25.178-07:002017-10-01T15:14:25.178-07:00Cliff: the only meaningful measure of federal debt...Cliff: the only meaningful measure of federal debt is the ratio of debt held by the public to nominal GDP. That is the true burden of the debt. By that measure, Reagan increased the nation's debt burden by 14 percentage points, to about 40% of nominal GDP. Obama raised our debt burden by 28 percentage points, to 76% of nominal GDP. The increase in the nation's debt burden under Obama was Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-4431100080301093642017-10-01T11:59:33.464-07:002017-10-01T11:59:33.464-07:00Chart 1 shows the largest marginal tax rate cut, b...Chart 1 shows the largest marginal tax rate cut, by far, was in the Reagan years.<br /><br />Chart 2 shows a large rise in the federal debt as a percentage of GDP in the Reagan years.<br /><br />Gross Federal Debt tripled in the Reagan years, from $900 billion to $2.7 trillion. <br /><br />Ford and Carter in their combined terms could only double it. <br /><br />It took 31 years to accomplish theThe Cliff Claven of Financehttps://www.blogger.com/profile/13541954550199246606noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-466192772451228952017-09-30T11:55:39.264-07:002017-09-30T11:55:39.264-07:00Scott,
Again a most helpful article.
Thank you for...Scott,<br />Again a most helpful article.<br />Thank you for all the writing and easy explanations& charts your provide.Medguyhttps://www.blogger.com/profile/17658510065872398051noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-49056785577370855652017-09-29T20:29:24.956-07:002017-09-29T20:29:24.956-07:00Well great post, and certainly federal deficits an...Well great post, and certainly federal deficits and rising federal debt to GDP ratios have not seem to have hampered real growth since 1980. James "Doomsday Is Pending" Grant is perplexed (to put it extremely mildly). Many have predicted more federal debt would ruin America. Well, here it is, lots of it, and piling up. <br /><br />See especially Chart 2 (I will hector Scott Grannis Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.com