Stimulus Gone Bad

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I think an easier way to know whether a tax cut is going to work is to start by making it the same percentage on all income. When we go into a recession you cut the rate for everyone. That way a reduction of 1% would be 1% for everyone not just the rich or the poor, not 10% for the rich and .5% for the poor. It’s the only way to really start manipulating the economy properly. But a little Keynesian theories mixed in with Laffer is not bad. Cut the tax rate across the board but maintain the spedning levels temporarily. Then as the economy recovers everything balances out. There won’t always be a surefire method of pulling us out of recessions. Different times call for different measures.
 
goofyjim said:
I think an easier way to know whether a tax cut is going to work is to start by making it the same percentage on all income. When we go into a recession you cut the rate for everyone. That way a reduction of 1% would be 1% for everyone not just the rich or the poor, not 10% for the rich and .5% for the poor. It’s the only way to really start manipulating the economy properly. But a little Keynesian theories mixed in with Laffer is not bad. Cut the tax rate across the board but maintain the spedning levels temporarily. Then as the economy recovers everything balances out. There won’t always be a surefire method of pulling us out of recessions. Different times call for different measures.
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I really don’t have a problem with that, but you will get the same arguments from the Left when you make a 1% cut. A milliionaire’s 1% cut is a lot more than a McDonald employee’s 1% cut - that is how percentages work.

That’s why when the “Bush tax cut” (way back when) actually cut the rate for the lower income brackets greater than the higher income brackets, the Left still howled that it was a “tax cut for the rich.”
 
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