Here is the scenario back in the 80’s Ireland was basically a third world nation they have completely turned it around now, they are a economic power in Europe how? In a nutshell they cut tariffs, cut corporate and personal income tax which attracted business and economic development.
Now Estonia a former Soviet republic is growing at 8.5% a year following basically the same formula, these are just a few ex of nations that has copied this formula, back in the Reagan era he cut tariffs, cut personal and corporate income tax and we saw the greatest economic boom in the US history, please no tired response about he increase the deficit, income to the US treasury actually doubled in that period the deficit was created by runaway spending mainly by a democratic congress.
Unfortunately this president has done the former but has not control spending and of course the democrats do what they do best, spend. Before anyone say Clinton balance the budget that was done after the republicans took over congress in 96 and controlled spending. Now here is the question for liberals and Democrats
If the formula has been shown to work very well here and in nations that have adopted it what is the logical reason for continually denying it? And why this insistence on wanting to
raise taxes even though it chokes economic growth.
2007-04-30
01:25:31
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9 answers
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asked by
Ynot!
6
in
Law & Ethics