Irresponsible pinko commie socialist 'tax rebates'

[tim huntzinger]

Comes now big gubmint socialism to address the economy and - in seeming violation of their Party's principles - are proposing an unprecedented flat-out giveaway of cash to stimulate consumer spending.  What a stupid idea.

My question is how many of you commie-haters and deficit hawks are going to refuse your check?  Not me.  I am going to go buy a bunch of cheap Chinese imports to help the economy.

[cannon_fodder]

Ahh yes, Chinese imports with your government check borrowed from... China.

Anyway, I'm already all over this Timmay:
http://www.tulsanow.org/forum/topic.asp?TOPIC_ID=8626

[tim huntzinger]

One voter on the poll? Sheesh this is worse than primaries . . .

[cannon_fodder]

Well, it's 5 voters.  But thanks to the lower numbers and your response I can see that like most people that complain about a lack of voters... you did not bother to do so yourself.

[tim huntzinger]

Do not be sore, buddy, I will vote on the poll![]

[Hometown]

Voodoo economics never really happened.  David Stockman, the chief architect of Voodoo, declared it dead about 2 years into Reagan's first term.  He blamed its demise on both parties.  Supply Side never got off the ground and we have continued to practice Keynesian economics since long before and after Reagan.

All of that makes later day Voodoo advocates like Oklahoma Republicans and particularly Lance Cargill and his crowd in state government irrelevant to everyone except their victim constituents.

Government stimulus has Keynesian practice written all over it.  Voodoo was nothing more than a topic for Sunday morning talk shows and an excuse to cut rich folks' taxes.

[Conan71]

quote:Originally posted by Hometown

Voodoo economics never really happened.  David Stockman, the chief architect of Voodoo, declared it dead about 2 years into Reagan's first term.  He blamed its demise on both parties.  Supply Side never got off the ground and we have continued to practice Keynesian economics since long before and after Reagan.

All of that makes later day Voodoo advocates like Oklahoma Republicans and particularly Lance Cargill and his crowd in state government irrelevant to everyone except their victim constituents.

Government stimulus has Keynesian practice written all over it.  Voodoo was nothing more than a topic for Sunday morning talk shows and an excuse to cut rich folks' taxes.

Right.  And your $400 or $500K you've pumped into our economy since your triumphant return from Frisco has not trickled throughout the economy?

What the hell does Lance Cargill have to do with a federal refund...sheesh.

[inteller]

It is awful.  This is the type of action our founders were thinking about when they granted the people the right to overthrow the government.
-
This was the action I was predicting all along.  The end of the US is near.

[FOTD]

"Those who know Bernanke, however, say he is not motivated by politics. "He wants to be known as a great central banker,"

BULL! He's getting an f for flunkey like every Bush appointee....

"Too many bubbles have been going on for too long," Volcker added. "The Fed is not really in control of the situation."


http://www.nytimes.com/2008/01/20/magazine/20Ben-Bernanke-t.html?pagewanted=1&_r=1&sq=paul%20volcker&st=nyt&scp=2

DOES NOT APPEAR TO ME THIS WEEKS MONETARY NOR FISCAL STRATEGIES ARE GOING TO HELP!  MORE LIKE HURT!

[FOTD]

http://www.ft.com/cms/s/0/1a7af090-c956-11dc-9807-000077b07658.html
George Soros nicely sums up current crisis.     I'm not a big fan of his but this is an interesting yet a scary thought.

[cannon_fodder]

HT:  

Do doubt a mass government handout to stimulate consumer spending is demand side - Keynesian economics.  I don't think anyone was arguing that handing out large wads of cash to middle America was somehow a form of a real "tax break."  It is a handout disguised as a tax rebate, plain and simple (since the amount has NOTHING to do with how much or even whether you paid taxes).

I won't bother debating the finer points of the theory, but take heart in the fact that demand economics have driven us into our current problems. Gimme gimme gimme, I want a new house I can't afford, I want an LCD TV, I'll just barrow more money.  The government will bail me out/fund my retirement.  

A demand side driven economy is a pyramid scheme.  Demand grew so much that it is now unfeasible to continue at current levels (the government can not spend more money nor can consumers).  When demand growth slows down the system starts to crumble.

I'm not touting the merits of Mundell's supply side notions, since alone they suffer serious flaws also.  I just don't get why you think encouraging the government and citizens to both spend spend spend is an avenue to long term economic stability?  Especially when most consumer products are now part of the import market.

[Hometown]

Cannon, Someone like you that works in the legal biz should understand the importance of words and their meanings.  I did not endorse or encourage anything.  I merely pointed out that Voodoo was talked about but never really implemented.  That is until Baby Face Cargill went to OKC.  He seems determined to breath life into Reagan's failed economic schemes (while really just lining his friends' pockets).  Lucky us.