Sunday, October 29, 2017

Comments from "Help us rich folks", by Gaylord Hageseth

"The lowest wage earners, as always, pay nothing."

Frank Swanson
Do the lowest wage earners pay property tax through rent, Frank?

Do they pay the City's new car tax which trippled?

Do they pay the same sales tax as you, but make much less?

The same phone taxes?

The same energy and cable taxes?

If you own a company, are you going to direct all the savings into higher wages for your workers?

Should a company obligated to shareholders increase wages if they don't have to with the savings?
"Those who use the tired, worn, "tax cuts for the rich" mantra need to stop that nonsense and read the President's proposal."

Frank Swanson
Isn't the proposal a huge tax break for business Frank?

How is that going to trickle down exactly?
As a general rule, I do not believe that tax cuts pay for themselves.

Henry Paulson
Bush’s nominee to be Secretary of the Treasury, June 27, 2006

On Tax Cuts

Federal revenue is lower today than it would have been without the tax cuts.

There’s really no dispute among economists about that.

Alan Viard
Senior economist at Council of Economic Advisers during Bush’s first term
Washington Post, October 17, 2006

On Tax Cuts and Revenue

You know that the tax cuts have not fueled record revenues.

...You know that the first order effect of cutting taxes is to lower tax revenues.

...No thoughtful person believes that this possible offset
more than compensated...for these tax cuts.

Not a single one.

If I'm wrong, show me the evidence...

Andrew Samwick
Chief economist at the Council of Economic Advisers
George W. Bush’s first term, January 3, 2007

Tax Cuts
"...A 2005 Congressional Budget Office study
during the time that Republican Doug Holtz-Eakin was CBO director,
concluded that a 10 percent cut in federal income tax rates
would recoup at most 28 percent of the static revenue loss over 10 years.

Although the economy grows in response to tax reductions
(because of higher consumption in the short run and improved incentives in the long run),
it is unlikely to grow so much that lost tax revenue is completely recovered
by the higher level of economic activity.

The 2003 Economic Report of the President during Bush’s first term

The actual data show pretty convincingly
that the Bush tax cuts reduced revenue rather significantly."

Bruce Bartlett
17 Jul 2010

Even by the standards of political boosterism
this is extraordinary

No serious economist believes…tax cuts will pay for themselves

The Economist

"Although the economy grows in response to tax reductions
it is unlikely to grow so much that lost revenue is completely recovered
by the higher level of economic activity"

Council of Economic Advisors

There is no credible evidence
tax revenues…rise in the face of lower tax rates…

Every $1 trillion tax cut should lead to $830 billion more debt

N Gregory Mankiw
Chairman of President Bush's Council of Economic Advisors, 2003-2005

"Council Admits To Raising City Taxes", and John Hammer's big lie

Duke Energy requests 16.7 percent rate hike [Tax Increase] on residential customers

Greensboro council to consider taxing the City's poor to give a parking deck to Tuggle Duggins and Roy Carroll

High Point University's Nido Qubein says building $160M in new projects with $30 million to take business from local entrepreneurs

How the News and Record rigs elections for the status quo; "Candidates for Greensboro mayor offer different visions for city"

Greensboro's News and Record misleads the public for the benefit of Greensboro's Oligharcy

The Rhino's John Hammer takes credit for breaking the Say Yes to Education story

North Carolina's Richard Burr and Thom Tillis voted to keep US prescription drug prices high for their campaign contributors