Lightbringer
Loves Me Some Souls
You don't understand the Laffer Curve. I already know you don't so don't lie to me.
What's causing rising debt?
- Thread starter Oneuli
- Start date
You don't understand the Laffer Curve. I already know you don't so don't lie to me.
I am not sure you do. But I see that you are reluctant to answer a very simple question; why? Do you have proof that revenues declined when tax rates are lowered? I have proof of the exact opposite. I am just trying to figure out where your proof is coming from; or if you are just erupting out of your bung hole again.
Lightbringer
Loves Me Some Souls
I am not sure you do. But I see that you are reluctant to answer a very simple question; why? Do you have proof that revenues declined when tax rates are lowered? I have proof of the exact opposite. I am just trying to figure out where your proof is coming from; or if you are just erupting out of your bung hole again.
I understand it very well. For example, I know it doesn't say that cutting taxes results in more revenue.
Actually, if you check the history, you'll see that the period from 1946 to 1981 (which was a period when Keynesian Economics had great influence in the nation and the welfare state was growing more generous), was a period when debt as a share of GDP dropped almost every year. What changed in FY 1982 wasn't a rise of Keynesianism or expansion of welfare. What changed was Reaganomics. Once the government radically cut upper-class taxes, deficits soared.... and an orgy of peace-time spending on the military didn't help either. That's why the period from FY 1982 to the early 90s was one when debt as a share of GDP doubled. And, of course, when the same catastrophic experiment was repeated by Bush, the results were the same: we went from debt falling as a share of GDP, to it doubling again. Of course, that won't keep the dummies from cheering as Trump tries the same thing yet again and then acts surprised when he gets the same results.
Okay, I see a little education is going to be needed here. First off, the thread topic is about Federal revenue. You're the one who started bloviating stupidly about the Laffer Curve.
So first, let's deal with the FACT that tax reductions have always resulted in higher revenue.
Lower tax rates = more money for taxpayers to spend = more demand = more production = more demand for labor = more tax payers = more tax revenue.
Next, the laffer curve is about a similar effect but an entirely different topic; the less something is taxed, the more of it is generated.
Lightbringer
Loves Me Some Souls
You are really fucking stupid. The Laffer Curve dictates tax policy you fucking moron. I won't go any further than that because you're too fucking stupid to understand.
Your premise is false. Keynesian theories had NOTHING to do with the welfare state. Keynesian theories dealt with massive Government investment to preserve jobs during recessionary periods much as was done during the Roosevelt years.
The massive rise in debt to GDP is not about preventing recessions through massive Government spending, which has been proven to be an incorrect economic policy and all but rejected, but rather, due to the massive increase of the Welfare state promoted by the Democratic Party of the Jackass over the decades.
The notion that Government can SPEND its way out of recessions is laughably stupid, in and of itself, and merely buries the taxpayers with more debt. How nice if the world was that simplistic. One could just massively borrow it's way out of any downturn. But that is built on a lie.
Again, tax cuts did not result in a reduction of revenue no matter how many times you moronically claim it does. There is NOTHING to support your claims. What happened was that the increase in revenues was far outstripped by massive welfare spending resulting in the deficits we saw until BillyBob Clinton lost the Congress in 1994 and Republicans started getting the house in order.
That ended when Democrats once again took over and started massive spending programs again. Grow a brain you partisan hack.
Wrong you moron, this is why I hate arguing with idiots:
The curve is used to illustrate Laffer’s main premise that the more an activity — such as production — is taxed, the less of it is generated. Likewise, the less an activity is taxed, the more of it is generated.
https://www.investopedia.com/terms/l/laffercurve.asp
I am still waiting for you to PROVE that tax reductions result in less revenue. Stop being a massive whiny cunt and prove it.
The fact you'd pair those two sentences means you didn't understand what my premise was. Try rereading.
It happens repeatedly. What's massively stupid is the right-wing insistence that it's all some big random cosmic coincidence, and that, say, the correlation between the change in government spending levels and how quickly nations emerged from the last recession, means nothing.
The error the stupidest people on the right make is that they think their opponents are arguing that tax cuts resulted in revenues falling relative to pre-tax-cut levels. Obviously, that's not the argument. Rather, it's that tax cuts result in slower revenue growth, such that even somewhat below-average spending growth rates are enough to outpace revenue growth, resulting in growing deficits. We've seen it happen again and again, but it's hard to communicate this to the simple-minded, since they'll fart out the observation that revenues grew, and imagine that somehow addressed the argument. How does one get through to someone with an IQ so low? I honestly haven't figured that out yet.
In what fiscal year do you think deficits started falling?
What do you think happened to deficits in which Bush and Trump had a Republican Congress to work with? Be specific, please.
Lightbringer
Loves Me Some Souls
The Laffer Curve says that a point on the downslope of the curve will result in the same revenue as the equivalent point on the upslope. It doesn't say cut taxes and you get a shitload of money you fucking monkey. In fact, I'm about to iggy your dumb ass because you're really fucking stupid.
Blah, blah, blah, Blah, blah, blah, Blah, blah, blah. Stop whining.
Dear idiot; up until 1994, Democrats ruled the Congress. Grow a fucking brain you partisan hack.
Don't be so hard on yourself.
That is a massive pile of bovine bile. But then, you are quite full of it.
You mean what years I KNOW they were falling? 1994 to 2001 (104th, 105th and 106th Republican controlled Congress). Then again from 2005 to 2007 (108th and 109th Republican controlled congress).
What a stupid question; why do you always ask moronic questions?
Hey, triggered moron; who made the bolded statement? No one scarecrow; cut the strawman bullshit you whiny twat.
Lightbringer
Loves Me Some Souls
Hey, triggered moron; who made the bolded statement? No one scarecrow; cut the strawman bullshit asshat.
Iggy it is.
Doing me a favor; your bullshit is tiresome and cunt like.
Althea
Althea told me...
He suckered me?
MAGA!
The story of recent American history, the story of our generation is that Republican presidents fuck up the economy, then Democratic presidents have to come in and clean up the mess.
I hope Trump doesn't destroy the decade-long Obama economic recovery, and steer us into another Great Republican Recession.
But history is working against us, man.
Fentoine Lum
Verified User
What's causing rising debt?
We have a ruling aristocracy to subsiduze, a global empire and global occupations to fund, and endless wars of colonial wealth extraction to manage.
We have a ruling aristocracy to subsiduze, a global empire and global occupations to fund, and endless wars of colonial wealth extraction to manage.
Fentoine Lum
Verified User
IS there a GIF for that? Cunt?
Republicans are causing our rising debt.
"When your outgo exceeds your income,
the upshot will be your downfall." Paul Harvey
$Fiscal conservatives would not cut taxes to decrease government revenues if the budget was already in deficit.
But Republicans are in charge.
Republicans via Speaker Ryan (R) control the house.
Republicans via Majority Leader McConnell (R) control the senate.
Republicans via President Trump (R) control the exec.
And our U.S. federal debt is record high.
Republicans!