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history has shown that tax cuts in the right place pay for themselves through increased economic activity and tax receipts
Clearly the best idea during a recession is to tax the ever loving shit out of businesses, raise entitlements, hand out money to people who dont work, balloon the deficit, and drastically increase the size of government. Didnt Obama send you the memo?
Boehner is a drone. And, although I'm not a fan of Greenspan, he at least admitted that supply side economics is a farce, by acknowledging that tax cuts don't pay for themselves.
That can work when you're turning away customers and credit is comparatively expensive. Not quite our current environment.
I cant wait till Obama starts fining businesses 2000 per employee for not providing healthcare, that is bound to stir economic activity. Taxes start this fall, get ready for a double dip.
That's overhead, I'll simply pass it on. I'd be concerned if my domestic competition was exempt. The real problem is in terms of my foreign competition. If supply chain costs ever fall enough again, we could be at a damaging disadvantage. No doubt my sector's associations would then lobby for countervailing duties. There is, thankfully, a bit of give and take between ourselves and the developing economies, making the real-world picture one of a race to a middle (not to the bottom), more so because they (China comes to mind) also have commies working behind the scenes to raise wages, protect the environment (all that icky socialism stuff, lol), etc. Edit: admittedly, I work in a non-discretionary sector. I feel for those who do not.
Sorry something about this doesnt add up for me. If you truly think you can just raise the price of your products and make more money then why dont you raise the price of your products right now and make more money? Your products are either priced to low, or you are in one of the rare businesses who has total control over what they charge. If you are in a business where you have total control over what you can charge you are in a business which is only about 1 in 100. Most businesses do not have the power of price control, someone will always undercut them, this especially holds true in the manufacturing sector with China. So it is not an option for most businesses to simply raise the price of whatever they are selling, and especially not in this environment. The other problem with this argument is that if someone is forced to spend more money on your product, it still leaves them with less money to buy something else, so while you may be able to raise your prices and get away with it other companies will inevitably suffer. I have said before i have no problem raising taxes on businesses during an overheated economy like the Tech Bubble, or even the last half of Bush's presidency from 04/05 on, cause in an environment like that people are making money, and they can afford to spend a little more should prices go up. Obviously id still rather see government cut spending, but they seem to be incapable of doing that these days If government was ever responsible we could keep somewhat of a consistently uptrending economy, through adjusting taxes on business, and the fed, but government has proven time and time again they are totally inept.