Why not just reduce ALL taxes by 50%

Discussion in 'Economics' started by jjf, Jan 26, 2009.

  1. jjf


    Instead of offering a stimulus package which will have a distorting effect on the economy, why not cut ALL taxes to 50 cents in the dollar and let the private sector pick the path to recovery.
  2. Short term bandaids....no

    Permanent change ....yes

    10% Consumption tax only

    The US would rock ....

    Valuations....would explode upwards....

    Which is exactly what banks need....

    Valuation change....One can bet on for the long term....
  3. talknet


    Taxes have already reduced by 50% because there is no income/profit from giant companies and banks.

    People income have also crashed because of crash of stock markets, real estate and commodities and also massive job-loss.

    Basically governments and central banks are bankrupt.
  4. poyayan


    Bush didn't do it.

    Obama sure will not do it.


    Why? Because income is around 70% of gov's income. It will be higher with corporate profit way down this year.
  5. tradersboredom

    tradersboredom Guest

    gov't is INVESTING in the economy. it's not a stimulus. but long term investing.

    investing is the only path to increase GDP and long term wealth creation.

    investing in infrastructure, education, and corporations that produce goods and services. job creation

    jobs are supply and demand.

  6. tradersboredom

    tradersboredom Guest

    war in iraq and military isn't investing but insurance policy and bad debt. only thing you get from military spending is piece of mind and protection of the economic system.

    you can't have economic growth or prosperity with any war.

  7. jjf


    You mean that gov is smart enough to invest but the people are not.

    Interesting point of view.

    So why not double taxes and then gov can invest twice as much.
  8. tradersboredom

    tradersboredom Guest

    in some military states . all taxes collected if their is any tax to collect is used to buy guns an bombs to support the military or the regime.

    the US military spending based percentage on GDP is same as it was in vietnam.

    in some countries, military spending is equal to GDP.

  9. poyayan


    If I paid person X to move dirt from A to B, then paid person Y to move dirt from B to A. That is job creation, but that is not investing in the future.

    Obama is under a lot of pressure from his own party to do just that and I praise him to able to resist that temptation so far.

    The devil is in the detail. Here is a brief list :

    All sounds good except I need to see numbers. How much we are spending on each item...
  10. tradersboredom

    tradersboredom Guest

    and the war in iraq, afghanistan and isreal and palestine that you see all the time on TV isn't a real war.

    man everybody all the soldiers from peace keepign countries are leaving iraq. there is no war there but the US military is spending money like there is a real war going on it's fake war.

    #10     Jan 26, 2009