Friday, August 6, 2010

US Plans to Let Tax Cuts For The Rich Expire

Bush had cut tax rates for the wealthiest 2% Americans and this did not boost economic activity while it only increased the budget deficit. America will however extend those granted to middle-income families.

Recall that when Reagan lowered top tax rates by about 10% in the 1980s the US didn't experience higher growth rates but only a quadrupling of its debt. Similarly when the bean-counter flattened our tax structure we not only got some of the worst growth rates in decades but very little happened in our country save Voodoo economics and the doubling of foreign debt.


Anonymous said...

Just a quick note Sir : the lowered tax is still here as far as I can tell, as is Mr Mansoor too, not to talk about the low growth rate!!

My gut feeling is PJ is just a non-event himself and it is getting funnier now - SAJ is going to china with (an MSM? )delegation to attract FDI.

Mauritius should be renamed Mauritius Inc - owned and operated by political parties only. Look at the audit report, millions spent of branding Mauritius- 1.3 million for that stupid distributed to political memembers....and what about the posting of super rich people at the so-called empr foundation so that they could help the poor. This reminds me of and old saying on womean rights I had in my GP book - "I am going to promote women rights and welfare and for that I will put the strongest man in charge"(attrbuted to a fictious head of govt)

Rich people are being jobs in teh name of helping the poor....I even here Duval saying one of his man is an specialist in helping the poor.

I think canal plus should be invited to set up a local station here and have the pupets show everyday on TV. This will beat the hell out of them.The idiots!!

Sanjay Jagatsingh said...

What should we expect from Trump? Tax cuts for the rich? That would not expire?

akagugo said...

As expected, Trump slashes tax rates for the top 1% and corporate entities.
Can we expect any outcome different from what Bush and Reagan did years ago?