10-21-2005, 01:03 AM | #11 |
Assistant to the Regional Manager
Join Date: Aug 2005
Location: The Orgasmatron
Posts: 24,338
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Disagree with Chino
First, if you pick a select group of economists, you may get them to agree that income tax rates has no affect upon growth, but intellectually I can't agree.
Let's look at Scandanavia, France and Germany which have high levels of costs, including income taxes, and I argue those rates do impact growth. The reason I argue that is that growth is often stimulated when they are reduced. It's plain if more money is taken out of commerce there will be less to invest. Clinton's "accomplishments" are not something I've seen documented, but how much was Clinton and how much was due to a Republican controlled Congress is another question. The Fed's members are nominated by the President, thus insofar as he selects the members and the chair he impacts fiscal policy. There are other controls as well. Let's not be that simplistic. I do agree government can stimulate some aspects of research and development, but generally disagree with Chino's other statements.
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