Comments on: Study: Tax Cuts for the Rich Don’t Spur Growth https://habitablezone.com/2012/09/17/study-tax-cuts-for-the-rich-dont-spur-growth/ Thu, 23 Apr 2026 21:07:28 -0700 hourly 1 http://wordpress.org/?v=3.3.1 By: alcaray https://habitablezone.com/2012/09/17/study-tax-cuts-for-the-rich-dont-spur-growth/#comment-18586 alcaray Tue, 18 Sep 2012 19:58:50 +0000 http://habitablezone.com/?p=22318#comment-18586 Oops: meant 'interest', not 'insurance'. Oops: meant ‘interest’, not ‘insurance’.

]]> By: alcaray https://habitablezone.com/2012/09/17/study-tax-cuts-for-the-rich-dont-spur-growth/#comment-18585 alcaray Tue, 18 Sep 2012 19:58:05 +0000 http://habitablezone.com/?p=22318#comment-18585 Think we should crank up insurance rates like Reagan did? Think we should crank up insurance rates like Reagan did?

]]> By: TB https://habitablezone.com/2012/09/17/study-tax-cuts-for-the-rich-dont-spur-growth/#comment-18584 TB Tue, 18 Sep 2012 19:53:42 +0000 http://habitablezone.com/?p=22318#comment-18584 <p>The dollar just dropped against other currencies.</p> The bond market thinks there's going to be inflation. So does the gold market. One agency just dropped our credit rating. Reagan? Inflation was 10 percent in 1980, 4 percent in 1988. The dollar just dropped against other currencies.

The bond market thinks there’s going to be inflation. So does the gold market. One agency just dropped our credit rating.

Reagan? Inflation was 10 percent in 1980, 4 percent in 1988.

]]> By: alcaray https://habitablezone.com/2012/09/17/study-tax-cuts-for-the-rich-dont-spur-growth/#comment-18577 alcaray Tue, 18 Sep 2012 19:10:49 +0000 http://habitablezone.com/?p=22318#comment-18577 It is if and only if you have appreciable inflation, which we do not. You guys loved inflation when Reagan was in charge. It is if and only if you have appreciable inflation, which we do not. You guys loved inflation when Reagan was in charge.

]]> By: bowser https://habitablezone.com/2012/09/17/study-tax-cuts-for-the-rich-dont-spur-growth/#comment-18548 bowser Tue, 18 Sep 2012 06:12:05 +0000 http://habitablezone.com/?p=22318#comment-18548 Edited out. No use. Edited out. No use.

]]> By: TB https://habitablezone.com/2012/09/17/study-tax-cuts-for-the-rich-dont-spur-growth/#comment-18543 TB Tue, 18 Sep 2012 04:48:15 +0000 http://habitablezone.com/?p=22318#comment-18543 Products are purchased by other producers. That's how it works. It's not "consuming" or "producing." It's trade. Anybody who adds value to something through work or skill is a producer. Even the guy sitting in the park selling handmade bracelets made out of old spoons is a producer. Keynesian mythology aside, taking money away from the people who produce goods and services and then turning around and giving it to somebody so they can buy those goods and services isn't really a very effective policy for economic growth. It is good policy for gaining political power in a democracy, though. The Fed just decided to print a shitload more money out of nothing and pump it into the economy. Each dollar is now worth that much less. This trick doesn't work either. Not for long. Interesting factoid: It's estimated that the sales of the new IPhone 5 could add as much as a <a href="http://money.cnn.com/2012/09/10/technology/jpmorgan-iphone-gdp/index.html" rel="nofollow">half percent to fourth quarter GDP.</a> That's where growth comes from. And jobs. Products are purchased by other producers. That’s how it works. It’s not “consuming” or “producing.” It’s trade.

Anybody who adds value to something through work or skill is a producer. Even the guy sitting in the park selling handmade bracelets made out of old spoons is a producer.

Keynesian mythology aside, taking money away from the people who produce goods and services and then turning around and giving it to somebody so they can buy those goods and services isn’t really a very effective policy for economic growth. It is good policy for gaining political power in a democracy, though.

The Fed just decided to print a shitload more money out of nothing and pump it into the economy. Each dollar is now worth that much less. This trick doesn’t work either. Not for long.

Interesting factoid: It’s estimated that the sales of the new IPhone 5 could add as much as a half percent to fourth quarter GDP.

That’s where growth comes from. And jobs.

]]> By: alcaray https://habitablezone.com/2012/09/17/study-tax-cuts-for-the-rich-dont-spur-growth/#comment-18533 alcaray Tue, 18 Sep 2012 03:20:46 +0000 http://habitablezone.com/?p=22318#comment-18533 Or a payroll tax cut. Or a payroll tax cut.

]]> By: ER https://habitablezone.com/2012/09/17/study-tax-cuts-for-the-rich-dont-spur-growth/#comment-18523 ER Tue, 18 Sep 2012 02:05:06 +0000 http://habitablezone.com/?p=22318#comment-18523 Maybe if you gave them a job, or a raise, they could buy more stuff? What a concept. Maybe if you gave them a job, or a raise, they could buy more stuff? What a concept.

]]> By: alcaray https://habitablezone.com/2012/09/17/study-tax-cuts-for-the-rich-dont-spur-growth/#comment-18521 alcaray Tue, 18 Sep 2012 01:50:22 +0000 http://habitablezone.com/?p=22318#comment-18521 ...If no one buys your product then you've done very little for the economy. I wonder who's out there buying products, and how you might make more of these useful people? …If no one buys your product then you’ve done very little for the economy. I wonder who’s out there buying products, and how you might make more of these useful people?

]]> By: ER https://habitablezone.com/2012/09/17/study-tax-cuts-for-the-rich-dont-spur-growth/#comment-18520 ER Tue, 18 Sep 2012 01:45:05 +0000 http://habitablezone.com/?p=22318#comment-18520 Why buy a factory when you can buy stock in a hedge fund? Why buy a factory when you can buy stock in a hedge fund?

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