01-04-2008, 11:29 PM | #11 | |
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01-04-2008, 11:34 PM | #12 | |
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No grand visions here, just selfish concerns for me and my family. We've asked for nothing, received nothing and want to be burdened by nobody. Most people really want that, but they are not frank enough to admit it.
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01-04-2008, 11:38 PM | #13 | |
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1. Archaea asks liberals why they support liberal economic policies. 2. Liberals explain why. 3. Archaea's argument is then reduced to, "I hate paying taxes. Taxes suck. I can't demonstrate why a moderate tax hike on the rich will hurt the economy, but stop taking my money."
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01-04-2008, 11:40 PM | #14 | |
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BTW, Italy's taxes are insane. Hong Kong is almost the opposite, with a flat tax for personal income and quite a business friendly environment Monaco is a well-know tax shelter haven, so maybe you will bump into VV while you are there. Wonder how the tax landscape in China and HK will evolve as Shanghai gets more and more Westernized. WFOEs are the lifeblood of a lot of our lage domestic clients with Asian ops.
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01-04-2008, 11:44 PM | #15 | |
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Economic liberals take the view, government programs are essential so let's find a way to fund them. It's that simple. However, we have no comparable economic model to the most complex model, the US. All other economies in some way or another are dependent upon our success or failure. You can cite a study or forecast that predicts "modest" increases may demonstrate some degree of elasticity, but you can't show any ironclad models that show how much is modest and whether program is net beneficial. In reality, nobody wants their own goat to be gored. You will cloak your goring of another by a complicated prognostication but will ignore the holes in the assumptions or lack of evidence. You rarely apply business logic or modeling. That is my principle complaint, that economic liberals misuse and ignore the benefits of the market and good business principles. They rely upon others to fix their mistakes.
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01-04-2008, 11:47 PM | #16 | |
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I didn't say I wished to own anything in Italy. No income would ever touch Italy, I may be daft but not that daft.
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01-05-2008, 12:15 AM | #17 | |
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Kudos for using the word elasticity, but the word you should have used was inelastic. The basic question is this: Will rich people slack off if we raise their taxes? Probably not. Many work even harder to recuperate lost income, and be more productive. We can't compare with others, but we have evidence from our own economy across time. How much hurt did Clinton's hikes on the rich put the economy? FDR's?
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01-05-2008, 12:21 AM | #18 | |
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I would like add my 2 cents to this discussion, but I don't know who you define as rich. Income level please. Also Obama is going to cut taxes for the middle class, what is this income level going to be. |
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01-05-2008, 12:24 AM | #19 | |
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I know the difference between elasticity and inelasticity. Liberal economists study the markets and try to reason around them. Liberal politicians ignore them in their calculations. I have not seen adequate documentation that wealthy business people work harder say in Sweden to recuperate lost investment, but rather they look elsewhere or cheat on their taxes. i Is it good social policy to adopt a tax strategy which encourages and rewards its citizenry for cheating rather than being honest? Clinton's taxes did affect the economy in a delayed manner once the phony tech bubble burst early in W's tenure. You give too much credit to Clinton, and ignore the foibles of the tech bubble. It was phony markets that benefited his image. We have a far more complex and different economy than FDR's time so comparisons are invalid.
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01-05-2008, 12:28 AM | #20 | |
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When that question is posed most of them are stumped.
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