What is Sup Forums's opinion on the Reagan Tax Cuts?

What is Sup Forums's opinion on the Reagan Tax Cuts?

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bloomberg.com/news/articles/2017-01-15/living-standards-better-growth-gauge-than-gdp-davos-forum-says
heritage.org/taxes/report/tax-cuts-increase-federal-revenues
youtube.com/watch?v=Rksd80-FCAw&feature=youtu.be&t=191
twitter.com/NSFWRedditVideo

Terrible.

This person voted Bernie Sanders.

They weren't enough. Low flat tax rate in several ex-soviet states saw an entire annual 6% GDP growth, more than twice what we have today.

they def increased revenues

You've posted the same image for your threads three days in a row.

No, I want Sup Forums's opinion on this topic for an assignment I have for my class. I haven't been on Sup Forums in about two weeks

It assumes rich people are good goyims, and willing to put their money back into the economy. Unfortunately only partially true but most people are greedy as fuck

It assumes conservatives are good soyims

A common right wing argument is that the tax cuts enabled the GDP growth we experienced in the 80's. What are your thoughts on this?

Fuck it I'll ask /biz/

Can mods redirect this thread to /biz/?

Fucking lol. Regan tripled the debt. Easily bottom 10% of presidents. Too bad he's already dead, 'cause he should be publically beaten to death.

> Low flat tax rate in several ex-soviet states saw an entire annual 6% GDP growth
That's it? Fucking lol, and it's even easier to hit higher GDP growth figures when you have high inflation and have a smaller economy. The US had more than that back during Bretton Woods.

GDP growth is the most overrated metric of all time.

It makes politicians do insanely retarded things. Like blow up the budget deficit and debt when u already have 4% unemployment and a solid economy.

GDP growth is just a metric. You can make in millions of migrants and explode spending and that increases GDP Growth. Does that mean it's the right thing to do?

Living Standards Better Growth Gauge Than GDP, Davos Forum Says
bloomberg.com/news/articles/2017-01-15/living-standards-better-growth-gauge-than-gdp-davos-forum-says

It works.

*take in

>right wing argument
neocon*

>What are your thoughts on this?
Regan's deficit spending combined with Volker's hawkish monetary policy curtailing inflation were the reasons.

They didn't work. The cuts caused a massive deficit which took over a decade to get under control. When they finally fixed it, Bill Clinton got all the credit for it even though it was Reagan and Bush Sr. who shed the most blood to make it happen.

Overall Reagan was a pretty shit president IMO.

I take it you're not a Keynesian? Keynesians usually obsess over GDP.

Volker may be the best fed chair we've ever had. He had to deal with a lot of criticism but his actions were great for us in the long run

Tax cuts are never beneficial unless they follow spending cuts.

This and checked. If you don't decrease spending all you are doing is making a deficit/debt.

This, but actual, literal cuckolds will defend him because all they see is the R. The day of the rope can't come fast enough. If this tax bill passes now, we're gonna see another regression that Democrats are gonna have to dig us out of. You're voting for people who have actually come out and said "well, we're voting for this bill because we have major donors who will stop giving us money if we don't." You are literally playing right into Jew hands, but you're too fucking retarded to see otherwise.

Tax cuts *only* have ephemeral benefits if you're deficit depending. Otherwise you're just getting a deadweight drop in spending, and therefore, GDP.

Reagan's tax cuts increased revenue for 8 out of the following 10 years. Any increased deficits were caused by spending increases brought about by congress.

heritage.org/taxes/report/tax-cuts-increase-federal-revenues

Lol 100% of republican ideology is we need muh tax cuts for muh growth

>What is Sup Forums's opinion on the Reagan Tax Cuts?
it gave rich people more money to create jobs in china

All ex-soviet states saw gdp growth from not being soviet states.

It doesn't matter who we vote for, the ZOG owns both sides. If Hillary had "won" the tax bill would be pretty much exactly the same, they would just threaten to shut down the government if she didn't sign it.
The only way forward is a complete collapse followed by a purge and a fresh start.

>heritage

Reagan proved deficits don't matter.

tax cuts are fine but reduced government spending should be the real goal

don't just cut taxes and borrow the difference like we've been doing

this

I wish the guy that tried to assassinate his mush-brained ass had been a better shot.

you ok?

Nominally, which is worthless. Inflation was ~10%+ in the early years and over 5% for most of the rest. He could have done nothing and nominal tax revenues would increase just because of that. On top of that, FICA taxes were increased which boosted revenues.

>heritage
Pure garbage. It's just a mouthpiece for failed supply-side, market fundamentalist dogma.

There wouldn't have been a tax bill if hillary won because she wouldn't sign one and the congress wouldn't have the votes to override her veto.

As much as shitters like you love to play the "m-muh both sides" nonsense, the fact is that we have never seen such open corruption on one side compared to the other. Republicans are a fucking cancer on this country, determined to undermine voting rights, deepen the state of class warfare, and take America closer and closer to an oligarchy. If ZOG owns both sides, why has the economy objectively prospered under Democrat tax-and-spend systems? Why has every Republican since Reagan taken us deeper and deeper into a depression? How long will this D R D R dance continue?

He was a great guy. I think of him like a second grandpa to me.

Moar Debt

Tax laws that benefit businesses are why all the Califags are migrating to Texas for jobs.
Fuck you Californians, get the fuck out of Texas and move back to your own state that you've already ruined.

Like I said, they would have just threatened a govt shut down, and she would have rolled over after getting some "victories" like free abortion pills for sluts or half a point tax increase on capital gains. She was never going to be a working class champion, she was owned by the same kind of people who own Trump and the GOP.

You know how I know you were born after 1990?

Jesus Christ, do you teenagers even know who the fuck Walter Mondale was? You REALLY think he'd have done a better job?

Made my uncle in the US really rich. Like high 8 digit rich. Lives in a really comfy old school villa in Connecticut. The 80s was apparently the shit for wall street.

>paid shill alert

lol

He raised the debt in order to crush communism, and improved the countries economy substantially regardless. You can fuck off

It will go on forever until the people overthrow both parties and start putting the 1% in fucking gullotines. I don't know how else to explain this to you, both parties are owned by the wealthy. Shit is never going to get better for regular folks under our current system. It will be a slow bleed until everyone is poor except the (((elites))).

communism is a failed system. It collapsed on its own

I want to be a 1 percenter so I don't get shafted and have to pay for what other people did to the economy.

>Being this much of a retard.

REAGAN SMASH COMMIES! RAWR!!

How fucking dumb are you, do you think Rocky 4 was a documentary or something? The commies broke up on their own, Reagan was just there when it happened.

this. his military buildup put pressure on the soviet union and exposed them for the failing state they were. not to mention he brought in a huge moral boost to the country and ended a social epoch dominated by deadbeat hippies

Back to plebit child molester, GOP > pedofiles and cultural deteriation anyday

found the fox news boomers

Terrible idea that has permanently crippled US economy for people who aren't already millionaires.

People who were born the year he was elected have not once seen the economy "trickle down"
if not for his diplomacy and foreign relations Reagan would be considered one of the worst presidents of all time.

nice ad hominem leafshitter

You're absolutely not wrong, but you're also not being realistic. What revolution and when? Where is the boiling point? People start to riot and protest and then what? There's work in the morning, kids to take to school, groceries to buy. Realistically, how do you envision this revolution occurring?

Having several shit options doesn't make either magically less shit. :^)

>He raised the debt in order to crush communism
So you're saying he was mentally disabled too? Fucking lol, communism crushes itself. Anyway, no, debt increased because supply-side shit doesn't work.

>and improved the countries economy substantially
Fucking wow! You mean the soaring trade deficit, the soaring current account deficit, the soaring budget deficit, the plummeting NIIP, tripling the national debt, etc.? Fucking fabulous job~

I'd kill him with my bare hands if I could.

Why is Trump even going down this road? After he blasted Reagan for it? I'm sure he knows trickle-down doesnt work.

Nice try FBI

>he doesn't know that Trump is a neo con

Learn to spell, cuck.

Neocon faggots and establishment twats are pushing for it.

Literally ruined America. Not just the tax cuts, but the fact that he increased the deficit by 200%, stimulated the economy by spending a shitload of money he didn't have while also cutting taxes, and then turning around and telling everyone that he owed his success to fiscal responsibility and sticking it to the niggers, which was the exact opposite of what he actually did. Everyone bought into it, and the GOP has embraced the philosophy of being complete lying frauds ever since then.

He also fired Volcker, who fixed the economy by jacking up interest rates higher than anyone thought possible, because it really pissed off the investment bankers. He then replaced him with Greenspan, who thought leaving interest rates artificially low at the behest of the banking industry was totally 'free market' right up until it created an economy-destroying credit bubble.

You don't get to cut taxes without cutting gov spending

Definitely, if you compare to high tax EU we have stagnated for a long time. Abysmal growth rates and no reasons for investors to put their cash down here. As a CS graduate I could earn triple in the states, but my wife doesn't want to move. Here it's normal for two people holding master degrees to live in a shitty row house or apartment. You should be really thankful your salaries aren't taxed at 45% plus 21% VAT and €250 of premiums per person per month.

...

It doesn't happen.

Right? Why would a business want to take the opportunity to expand? Fucking retarded.

Bernie should've won.....

there is literally nothing wrong with taxing businesses less.

The EU is stagnant not necessarily because of taxes (although in some ways they need lowered), but because of the EU itself. It's created bloated bureaucracies and destabilizing imbalances--which showed itself during the European Debt Crisis.

The welfare state will melt down and the browns will start killing each other

Fuck you my 56% genes were showing
>cuck
Newfag

>151649457
>Goldman Sachs needs a tax cut

the absolute state of Trump voters

Alot of the current economic stagnation is explained by demographics. Old people don't innovate and they don't spend.

>implying the business will expand
>implying the CEO of the corporation won't just pocket the money into offshore accounts to sit with his other 100billion dollars he'll never spend on anything but wants to keep for some reason

Trickle Down requires people to not be greedy assholes and actually put the money back into the economy, which we now have 40 years of proof doesn't work.

Exactly. American life is just not structured that way anymore. We're too comfortable in what we have to try to lose it. Sure shit's bad, but as long as we have a roof over our heads, some form of food on our plates, and something to watch or play or do over the next little while, we're not going to storm the streets. Even people stockpiling guns think as much, they just won't admit it.

Alternatively, why even fucking bother going through a second revolution when the path to fixing the problem is clear. NEVER vote for another Republican piece of shit until the entire party is rebuilt from the ground up. ALWAYS lobby to expose these lying scumbags for what they are. All the Republican party has become now is a front for sellouts and oligarchs and admitted pedophiles/their apologists. The GOP, in its current form, offers nothing to the country.

You are correct, but overtaxation and bureaucracy go hand in hand. In Europe there is no control factor to limit the growth of government, so they keep expanding and increasing tax. It's insane.

We lowered taxes in the last two administrations. How low do we need to go? What happens if there is a recession? Do we not care about the deficit anymore?

Is the nordic system good in your opinion ?

They'll expand in China or some other third world shithole.

The idea that trickle-down doesn't work is a complete meme. Savings has to equal investment, and if the rich get to save more of their money, it will be invested in something by default. The issue is, what is that 'something' that gets invested in? America is a mature economy in a global marketplace, and almost all of the growth opportunities are in poor countries, so that's where the money goes.

yeah lets make life harder for small and medium size business because of our hate boner for large corporations. Very rational

Wage stagnation is easily explained by 60 million nonwhites plus 10s millions of white women entering the workforce

My main issue with tax cuts w/o government cuts is that it allows a welfare state to be incubated without the fuckers who voted for it feeling the pain in their wallet

Started a 40 year economic boom that three presidents rode out.

Lol you're not doing anything for small businesses. This is a giant tax cut for big business.

Corporations only pay taxes on their PROFITS. If you don't make any money, you don't pay corporate income tax. Right wing retards literally don't know this.

This is a tax cut for giant mega corporations already making billions in profits.

digits of truth

Are you implying we need more protectionist policies?

>Even people stockpiling guns think as much, they just won't admit it.
They don't "start the revolution" because under the current circumstances that is basically terrorism
> vote
Too late. The demographics are far, far too gone

no it didn't

youtube.com/watch?v=Rksd80-FCAw&feature=youtu.be&t=191

r u retarded?

Europe isn't Japan, you know. Demographics aren't a significant issue, the wildly unbalanced current accounts in Europe is. It necessitates deficit nations going deep into debt and auctioning off assets to pay for it. Debt is the very reason why economic cycles exist.

the problem being the Democrat party are the EXACT same way economically, aside from maybe caring a little more about welfare programs.

Hillary literally lost the election to Donald fucking Trump because the Democratic party went from pretending to care about the working class to just being honest about being corporate puppets.

The truth is both parties need to go.

>Implying communism needed any help to collapse

i just want to point out that tax cuts are only one aspect of an economy and without a full roster of positive and sensible economic policies "success" or "failure" can't be measured. the political left likes to try to boil everything down to single-issueness. they can't understand that there's a larger picture at work.

i don't think there's any real doubt that the reagan tax cuts improved the economy but it's stupid the way people analyze economic success and failure as if it pertains to "one specific piece of legislation" and that goes for any democrat or republican president / congress
why terrible? our economy did great in the 80s and into the 90s. the whole "wealth inequality" thing really started to skyrocket in the mid 90s under clinton, and it was mostly due to a number of legislative acts specifically designed to restrict wealth to the top 1%, like for one example, the telecommunications act of 1996. everything democrats do is basically designed to reduce the sovereignty and independence of the working and ordinary people because they want you enslaved. they call it "regulations" and "welfare" and "taxes" and tell you its for your own good but all it ends up doing is enslaving you and your children whilst a permanent upper class manages to flourish and dominate unchallenged

take carbon tax, for example, sold to the people under the guise of "saving hte planet from global warming" but all it does in practice is make it harder for small businesses to compete with larger businesses. now you don't think these larger businesses were lobbying and pulling for this legislation? you don't think they're smart enough to see that they're going to benefit from wiping out the competition? i think you've got to wake up kid

I would still say that's a problem with the EU itself rather than taxes as an abstraction.

The welfare state is perpetually bolstered by these changes. The divide between the middle and upper class has been widening, and will continue to widen further under these stages. Higher, average earners are going to be the new middle class, the middle class is going to become the neo working poor, and the poor are just going to go fucking extinct. The scariest part? Without basic healthcare coverage, any single one person below the top 10% is just one unfortunate accident away from losing everything, to be dropped into the poor bracket to die with everyone else.

How many layers of false flag are you on right now?

Nations go into debt trying to support a welfare state.
Old people consume welfare.

there were two recessions under bush sr and a big one under w. Economy did well because of the digital revolution under clinton.

serious question, why does anyone consent to taxes anyway? doesn't anyone in the world want to be free anymore? or have you all pretty much lost the fire in your hearts and souls that burns and tells you to stay independent and autonomous?

Fact: Obama never had 3% Annual GDP Growth

>Taxes r wrung
>Muh freedom
Wew, the quality of this board lately

this is actually quite telling since obamas "recovery" made use of 3 rounds of quantitative easing, in which the USA was essentially was dipping into its savings account and PAYING for artificial economic growth. if his other policies weren't such total shit we could have had off the charts economic growth while using that policy, i think trump has pretty much proved that within his first in office now

>is basically terrorism
Exactly :/

>Too late. The demographics are far, far too gone
Wrong. This election had the lowest voter turnout because of the garbage we were offered. I think interesting things are going to happen over the next year.

Can you link to some sources regarding Hillary's economic policies? All I know is what I'm looking at under the current administration. If you're right, I'll admit that we had no choice from the get-go.

>our economy did great in the 80s and into the 90s.
The 80s, 90s, and 00s was just a leveraging (debt spending).

I don't particularly care to respond to your conspiracies.

>literally talking about freedom as if its a bad thing
okkkkkkkkk