09-15-2008, 07:09 AM
Sangetsu, I appreciate your knowledge and experience.
You can say "What happened after the Reagan tax cuts? Revenue increased. The only reason that the deficit also increased was Reagan's massive military spending. " but you are mixing apples and oranges.
Trickle-down economics worked incredibly well...for people like your uncle. But for people that weren't making 300k a year the benefits weren't as obvious.
And were are not only in a similar state, but a worse state right now, in more expensive war(s) and bankruptcies and foreclosures at record highs.
More of the same is not the answer.
I do not blame the entire ARM situation on the Bush administration, but their hands are not entirely clean either.
If our economy hinges on hurricanes, then we need to do something different. McCain wants to drill more off the coast of Florida, Louisiana and Texas. On the eve of another oil price hike thanks to Ike, does that make sense?
I already answered your tax question, and don't feel the need to repeat myself. I understand and applaud your uncle. I wish he was more representative of the rich in America.
|