Comments | the_recession: The L Club

nebris in the_recession

The L Club

Dec 07, 2010 22:53

~Reagan budget director David Stockman calls for tax increases.

qe2, reaganomics, macroeconomics, deleveraging, the |_____ club, federal reserve, sovereign debt crisis

Comments 3

cieldumort December 8 2010, 07:38:53 UTC

Yeah. Major tax increases. Great plan!

Great plan! nebris December 8 2010, 08:01:04 UTC

It is actually. Americans pay far lower taxes than any Western developed nation. And we can start with changing the way hedge fund earnings are taxed.

~M~

Re: Great plan! cieldumort December 8 2010, 20:20:45 UTC

Changing the way hedge fund earnings are taxed is probably long overdue. But a general increase in taxes on everyone is not a good idea, at this time, whatsoever.

I'm completely in favor of closing loopholes and raising taxes on individuals earning over $200k/yr (or perhaps families over $250k/yr or so), and on corps who send jobs overseas.

Those earning less than $200k/yr could stand to use additional tax cuts over the next year or two, however. Especially so if your desired goal is to help the recovery along.