Economic Collapse 2011?

[LarryTheRenter]

2010 – A good year to teach my grandparents skydiving…what do you think?

Maybe scuba diving or sightseeing in Pakistan while wearing an American flag T-shirt…..

[mike92104]

[quote=Ash Housewares][quote=Aecetia]Raising tax rates lowers tax revenue. The government is going to end up imploding if they continue down this path…Time to get your head out of the sand.[/quote]

Or not. All evidence points to the US being well onto the left side of the laffer curve, where cuts in tax rates decrease revenue. Even the early 1980s (much higher) tax rates were on the left side of the curve, as the Reagan tax cuts decreased revenue.

The Congressional Budget Office estimated that extending the Bush tax cuts of 2001-2003 beyond 2010 would increase deficits by $1.8 trillion over the following decade:
http://www.cbo.gov/ftpdocs/78xx/doc7878/03-21-PresidentsBudget.pdf

Nice unbiased reporting by the WSJ, giving credit to Bush for the cuts, but calling their expiration Obama’s tax increase.[/quote]

Do the tax cuts increase the deficits or does the out of control spending increase the deficits?

Also, I don’t see much difference in raising taxes or allowing tax cuts to expire. Point is that taxes will go up under Obama’s watch.

[mike92104]

[quote=Ash Housewares][quote=Aecetia]Raising tax rates lowers tax revenue. The government is going to end up imploding if they continue down this path…Time to get your head out of the sand.[/quote]

Or not. All evidence points to the US being well onto the left side of the laffer curve, where cuts in tax rates decrease revenue. Even the early 1980s (much higher) tax rates were on the left side of the curve, as the Reagan tax cuts decreased revenue.

The Congressional Budget Office estimated that extending the Bush tax cuts of 2001-2003 beyond 2010 would increase deficits by $1.8 trillion over the following decade:
http://www.cbo.gov/ftpdocs/78xx/doc7878/03-21-PresidentsBudget.pdf

Nice unbiased reporting by the WSJ, giving credit to Bush for the cuts, but calling their expiration Obama’s tax increase.[/quote]

Do the tax cuts increase the deficits or does the out of control spending increase the deficits?

Also, I don’t see much difference in raising taxes or allowing tax cuts to expire. Point is that taxes will go up under Obama’s watch.

[mike92104]

[quote=Ash Housewares][quote=Aecetia]Raising tax rates lowers tax revenue. The government is going to end up imploding if they continue down this path…Time to get your head out of the sand.[/quote]

Or not. All evidence points to the US being well onto the left side of the laffer curve, where cuts in tax rates decrease revenue. Even the early 1980s (much higher) tax rates were on the left side of the curve, as the Reagan tax cuts decreased revenue.

The Congressional Budget Office estimated that extending the Bush tax cuts of 2001-2003 beyond 2010 would increase deficits by $1.8 trillion over the following decade:
http://www.cbo.gov/ftpdocs/78xx/doc7878/03-21-PresidentsBudget.pdf

Nice unbiased reporting by the WSJ, giving credit to Bush for the cuts, but calling their expiration Obama’s tax increase.[/quote]

Do the tax cuts increase the deficits or does the out of control spending increase the deficits?

Also, I don’t see much difference in raising taxes or allowing tax cuts to expire. Point is that taxes will go up under Obama’s watch.

[mike92104]

[quote=Ash Housewares][quote=Aecetia]Raising tax rates lowers tax revenue. The government is going to end up imploding if they continue down this path…Time to get your head out of the sand.[/quote]

Or not. All evidence points to the US being well onto the left side of the laffer curve, where cuts in tax rates decrease revenue. Even the early 1980s (much higher) tax rates were on the left side of the curve, as the Reagan tax cuts decreased revenue.

The Congressional Budget Office estimated that extending the Bush tax cuts of 2001-2003 beyond 2010 would increase deficits by $1.8 trillion over the following decade:
http://www.cbo.gov/ftpdocs/78xx/doc7878/03-21-PresidentsBudget.pdf

Nice unbiased reporting by the WSJ, giving credit to Bush for the cuts, but calling their expiration Obama’s tax increase.[/quote]

Do the tax cuts increase the deficits or does the out of control spending increase the deficits?

Also, I don’t see much difference in raising taxes or allowing tax cuts to expire. Point is that taxes will go up under Obama’s watch.

[mike92104]

[quote=Ash Housewares][quote=Aecetia]Raising tax rates lowers tax revenue. The government is going to end up imploding if they continue down this path…Time to get your head out of the sand.[/quote]

Or not. All evidence points to the US being well onto the left side of the laffer curve, where cuts in tax rates decrease revenue. Even the early 1980s (much higher) tax rates were on the left side of the curve, as the Reagan tax cuts decreased revenue.

The Congressional Budget Office estimated that extending the Bush tax cuts of 2001-2003 beyond 2010 would increase deficits by $1.8 trillion over the following decade:
http://www.cbo.gov/ftpdocs/78xx/doc7878/03-21-PresidentsBudget.pdf

Nice unbiased reporting by the WSJ, giving credit to Bush for the cuts, but calling their expiration Obama’s tax increase.[/quote]

Do the tax cuts increase the deficits or does the out of control spending increase the deficits?

Also, I don’t see much difference in raising taxes or allowing tax cuts to expire. Point is that taxes will go up under Obama’s watch.

[UCGal]

[quote=LarryTheRenter]2010 – A good year to teach my grandparents skydiving…what do you think?

Maybe scuba diving or sightseeing in Pakistan while wearing an American flag T-shirt…..[/quote]

Only if your grandparents are rich. Mine weren’t – so the estate tax was a total nothingburger… didn’t apply. And remember – it’s only money ABOVE the exclusion figure… so it’s not like the whole estate is taxed.

but… if your grandparents are wealthy – skydiving might be an option. 😉

[UCGal]

[quote=LarryTheRenter]2010 – A good year to teach my grandparents skydiving…what do you think?

Maybe scuba diving or sightseeing in Pakistan while wearing an American flag T-shirt…..[/quote]

Only if your grandparents are rich. Mine weren’t – so the estate tax was a total nothingburger… didn’t apply. And remember – it’s only money ABOVE the exclusion figure… so it’s not like the whole estate is taxed.

but… if your grandparents are wealthy – skydiving might be an option. 😉

[UCGal]

[quote=LarryTheRenter]2010 – A good year to teach my grandparents skydiving…what do you think?

Maybe scuba diving or sightseeing in Pakistan while wearing an American flag T-shirt…..[/quote]

Only if your grandparents are rich. Mine weren’t – so the estate tax was a total nothingburger… didn’t apply. And remember – it’s only money ABOVE the exclusion figure… so it’s not like the whole estate is taxed.

but… if your grandparents are wealthy – skydiving might be an option. 😉

[UCGal]

[quote=LarryTheRenter]2010 – A good year to teach my grandparents skydiving…what do you think?

Maybe scuba diving or sightseeing in Pakistan while wearing an American flag T-shirt…..[/quote]

Only if your grandparents are rich. Mine weren’t – so the estate tax was a total nothingburger… didn’t apply. And remember – it’s only money ABOVE the exclusion figure… so it’s not like the whole estate is taxed.

but… if your grandparents are wealthy – skydiving might be an option. 😉

[UCGal]

[quote=LarryTheRenter]2010 – A good year to teach my grandparents skydiving…what do you think?

Maybe scuba diving or sightseeing in Pakistan while wearing an American flag T-shirt…..[/quote]

Only if your grandparents are rich. Mine weren’t – so the estate tax was a total nothingburger… didn’t apply. And remember – it’s only money ABOVE the exclusion figure… so it’s not like the whole estate is taxed.

but… if your grandparents are wealthy – skydiving might be an option. 😉

[briansd1]

Again, only 5,500 estates are taxes each year.

For people of more modest wealth, estate planning would have already allowed them to transfer wealth to heirs during their lifetimes.

[briansd1]

Again, only 5,500 estates are taxes each year.

For people of more modest wealth, estate planning would have already allowed them to transfer wealth to heirs during their lifetimes.

[briansd1]

Again, only 5,500 estates are taxes each year.

For people of more modest wealth, estate planning would have already allowed them to transfer wealth to heirs during their lifetimes.

[briansd1]

Again, only 5,500 estates are taxes each year.

For people of more modest wealth, estate planning would have already allowed them to transfer wealth to heirs during their lifetimes.

[Author]

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