Michele Bachmann: A Fact Checker’s dream

Bob Dole was on FOXNews over the weekend and said Nixon, Reagan and HW Bush would not have made it in today's republican party. The Koch Brothers and Sheldon Adelson came out after the election to voice their support for gay marriage for what may be seen as a way to distance themselves from the lunatics that now run the republican party. It will be interesting to see what the new party will look like.

In the meantime, Steve King: "Ronald Reagan’s signature on the 1986 amnesty act" gave Barack Obama about 15 million additional Hispanic votes in 2012."Ronald Reagan’s signature on the 1986 amnesty act brought about Barack Obama’s election."

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Now the crazies are blaming Reagan for Obama's win.

 

bob dole sure looked like an establishment senator who fleeced america while in office.

from pauper to multi millionaire.

also. when he was there they were not running trillion dollar deficits every year... many dems back then were not nuts.



and finally...

the establishment republicans were always bad mouthing Reagan and the changes he was making.


George Bush called the idea of cutting taxes to raise revenue voodoo economics... Even though Keynes himself said cutting taxes can raise revenue.

 

It now appears that raising taxes raises revenue, too. Who would have thunk it!?

 

There is a point of diminishing returns and that point is probably always changing.

 

Too bad those revenues don't go to paying down debt.

 

Actually, they are.

 

the vote is still out on whether raising taxes expanded this economy and raised revenue in more than just the short term while the economy adjusts.

the economy seems to built on a few stilts including spending, monetary policy and QE. Obamacare and its taxes may overwhelm.

 

I believe he was talking about national or state debt not the debt incurred by "the Chicago way".

 

Yah, right!

 

Let's say the x-axis is the tax rate. The Y-axis is revenue*.

At the apex of the parabola is the point where revenue is at its greatest.

Let's start anywhere to the left of the apex. By moving rightward toward the apex, the tax rate is increasing. You'll also see that by moving rightward, you're moving upward on the y-axis meaning revenues are going up.

The reverse will hold true. Start anywhere to the right of the apex. By moving leftward, tax rates fall but revenues increase.

So depending on which side of the apex you're located, increasing or decreasing taxes can generate more revenue.


*Revenue as a percentage of GDP.