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-   -   CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years (http://www.insidehoops.com/forum/showthread.php?t=285970)

longhornfan1234 01-01-2013 03:41 PM

CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
http://www.businessinsider.com/cbo-f...0-years-2013-1

What a great plan. :bowdown: :bowdown:

SpecialQue 01-01-2013 03:55 PM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
:djparty
:hammertime: :party: :dancin :banana:

Jailblazers7 01-01-2013 04:00 PM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
And if you bothered to read the 2nd sentence:

Quote:

You can find the score on the 2nd page of this embedded document. The bill adds nearly $4 trillion to the deficit over the next 10 years. Of course, this is against the baseline (which assumed the expiry of all tax cuts) so naturally undoing those tax increases was going to add a lot to the deficit.


If the Bush tax cuts were used as the baseline, then things would look very different.

RedBlackAttack 01-01-2013 06:32 PM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
Quote:

Originally Posted by longhornfan1234
http://www.businessinsider.com/cbo-f...0-years-2013-1

What a great plan. :bowdown: :bowdown:

So, let me get this straight... You want to maintain all tax cuts, but are completely against any increase in the deficit?

Why am I not surprised? Wonder what the projected deficit would be if we also dramatically increased defense spending, as your side was proposing?

Math2 01-01-2013 06:57 PM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
The reason people are against tax increases are because it hurts the economy.

SpecialQue 01-01-2013 07:33 PM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
I'm all for no taxes for anyone and every single aspect of our lives being privately funded. If someone in your family gets kidnapped and you can't afford the cops? OH WELL!!! :banana:

boozehound 01-01-2013 08:03 PM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
Quote:

Originally Posted by Math2
The reason people are against tax increases are because it hurts the economy.

this is pure hogwash with no basis in economic reality. Almost every economist agrees that tax rates (still significantly lower that almost everywhere else that is an industrialized country) on personal income have nothing to do with restricting the economy or derailing job growth. Its empty rhetoric.

Sarcastic 01-01-2013 08:04 PM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
Quote:

Originally Posted by Math2
The reason people are against tax increases are because it hurts the economy.


http://graphics8.nytimes.com/news/bu...andeconomy.pdf

Jello 01-01-2013 09:20 PM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
Higher taxes are definitely the answer. We should go back to the top marginal tax bracket of 91% in 1955. Just make the bracket kick in at incomes of $60000, that way we can tax our way to a balanced budget. Ballooning entitlements and out of control spending is nothing to worry about, just raise the top marginal tax rate and our deficit woes will all go away.:rolleyes:

nathanjizzle 01-01-2013 09:36 PM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 

KevinNYC 01-01-2013 10:55 PM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
Quote:

Originally Posted by Jailblazers7
And if you bothered to read the 2nd sentence:


It never fails does it?

Quote:

Originally Posted by Jailblazers7
If the Bush tax cuts were used as the baseline, then things would look very different.


Also, it would be nice to remember why we didn't want to go over the "fiscal cliff." The reason it would be bad, is it would LOWER THE DEBT TOO FAST. Which would be a contractionary shock to the economy. One reason our economy is growing at a weak rate, is we have a lot of private citizens paying down their debt. Money that is paying down debt is not used to buy goods or services, so if on top of this private debt deleveraing, we added public debt deleveraging, our economy would stop growing. This is what has happened in Europe where countries implemented austerity measures, their debt has actually gotten worse because their economies started contracting. The solution ended up making the problem worse.

People keep wanting to pretend that what Keynes had to say can be ignored, but he keeps making himself relevant, doesn't he?

Jello 01-01-2013 11:18 PM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
Quote:

Originally Posted by KevinNYC
It never fails does it?



Also, it would be nice to remember why we didn't want to go over the "fiscal cliff." The reason it would be bad, is it would LOWER THE DEBT TOO FAST. Which would be a contractionary shock to the economy. One reason our economy is growing at a weak rate, is we have a lot of private citizens paying down their debt. Money that is paying down debt is not used to buy goods or services, so if on top of this private debt deleveraing, we added public debt deleveraging, our economy would stop growing. This is what has happened in Europe where countries implemented austerity measures, their debt has actually gotten worse because their economies started contracting. The solution ended up making the problem worse.

People keep wanting to pretend that what Keynes had to say can be ignored, but he keeps making himself relevant, doesn't he?

"lower the debt too fast" :lol You're dumb as shit. The fiscal cliff would only reduce a part of the deficit, not the debt. The fiscal cliff only limits how fast our public debt grows, it does not deleverage public debt. But of course everything will be solved by raising the top marginal tax rate. Yep.

kentatm 01-02-2013 01:01 AM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
Quote:

Originally Posted by Jello
But of course everything will be solved by raising the top marginal tax rate. Yep.


pretty sure he has never said that is the only thing needed.

miller-time 01-02-2013 01:13 AM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
Quote:

Originally Posted by kentatm
pretty sure he has never said that is the only thing needed.


ISH dude.. A minor point becomes your whole point here.

kentatm 01-02-2013 01:37 AM

Re: CBO: Fiscal Cliff Deal Ads Nearly $4 Trillion To The Deficit Over The Next 10 Years
 
Quote:

Originally Posted by miller-time
ISH dude.. A minor point becomes your whole point here.


true true


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