AEIdeas

The public policy blog of the American Enterprise Institute

Subscribe to the blog

Discussion: (5 comments)

  1. Bassmonkey

    So I’m supposed to take arguments seriously from someone who is claiming revenues are high based on predictions for 19 years from now? Look at the volatility of the last 19 years to realize how silly that is.

  2. No, the author is saying that over the next decade (which equals 10, not 19), revenues will be 1% of GDP higher than historical average. Yet the publicly-held debt will still increase by $7T. This will be due to continued deficits (though smaller) and interest on the debt. Check out OMB Table 1.3 (for historical context) and the CBO Budget & Economic Forecast 2013-23. CBO has been wrong before, but unless we’re headed for a 90’s-like period of peace, prosperity, and windfall tax revenue, I think they’ve got the next 10 years figured pretty well.

  3. To reduce the deficit in a weak economy, new taxes on high-income Americans are a matter of necessity and fairness“…

    What absolute drivel!

    Its quite understandable now why Walter Duranty worked for the New York Times

  4. Todd Mason

    I wonder if you get tired of writing the same old crap.

    1. Kinda hard to make case for preferential tax treatment of investment income when S&P 500 companies are sitting on a $1T in cash, banks have another $2T or so parked at the Fed and money funds are holding $1T. Could it be that the problem is demand?

    2. Spending cuts are in fact dumber than tax increases at this particular moment. Historical studies are pointless in an economy dealing with the first national decline in housing prices, eh? We are almost to the point where losing your job doesn’t automatically mean losing your house. So why in h*ll would you throw govt workers out in the street and start another round of foreclosures? And the point here is timing rather than need.

    3. No one is paying enough taxes thanks to Dubya. Tax revenues as a percentage of GDP looks normal because GDP sucks. (Which also explains the $7T in extra debt in CBO forecasts.) Breaking the news to Joe Sixpack would be easier if we worked first on that fairness thing.

    4. So, in short, the Dow would shoot up 500 points tomorrow if Boehner got up and said he’d side with the House Ds in postponing the sequester thing until further notice.

    5. If you feel the need to do something, then mortgage principal reduction is the best bang for the buck and available through a simple change. Bankruptcy courts routinely approve principal reductions, or cramdowns in bankruptcy speak. But they’re available only to businesses rather than individuals. In ground-zero markets like Las Vegas, cramdowns would deal with the inevitable in an orderly fashion.

    6. But in the Alice in Wonderland world of the teapartiers, the question left unanswered is what the NYTimes did for the Armenians.

    1. Spending cuts are in fact dumber than tax increases at this particular moment. Historical studies are pointless in an economy dealing with the first national decline in housing prices, eh?“…

      LMAO!

      Thankis todd for the chuckle…

Comments are closed.

Sort By:

Refine Content:

Scholar

Additional Keywords:

Refine Results

or to save searches.

Open
Refine Content