I told you so!!

Varmit · May 01, 2009, 11:59:41 AM

Well, wasn't it Regan that cut taxes instead of raising them on captial gains giving more money back to businesses?

Diane Amberg · May 01, 2009, 12:16:24 PM

He lowered taxes in '81 (Kemp/ Roth) ( who was one of mine, by the way) and then had deficits to deal with. Then lowered taxes again in '86. I believe that was the capital gains one. I liked him as a president and as always, didn't agree with all, but liked most.

Varmit · May 01, 2009, 12:40:56 PM

Thats what I am getting at. He didn't try to spend his way out of debt, takeover private business, etc.

Wilma · May 01, 2009, 01:53:40 PM

And he wasn't faced with failing banks and companies when he took office, either. And the capital gains tax didn't amount to all that much. It was most beneficial to people who already had a lot of money or other assets. We little people didn't benefit from it at all.

redcliffsw · May 01, 2009, 01:56:59 PM

Don't you suppose the gov't ought not to be taxing just because of the success or profits of others?

Using the Feds to get other peoples' money does not seem to be right.

Varmit · May 01, 2009, 01:58:39 PM

Quote from: Wilma on May 01, 2009, 01:53:40 PM
It was most beneficial to people who already had a lot of money or other assets. We little people didn't benefit from it at all.

Aren't the people with money and other assests the ones who open factories, up production, expand business and hire workers, i.e. "little people"?

Wilma · May 01, 2009, 02:00:29 PM

How else are you going to pay for a government of any kind? By donation?

So, by cutting the capital gains tax, business was encouraged to expand and provide more to everybody? Right?

redcliffsw · May 01, 2009, 02:03:34 PM

Yes Sir! Billy you're right again.

And when the U. S was established, there was no power whatsoever for the Fed's to
tax income or capital gains. Further, the Fed's did not "manage" the economy.

Now the greed has set in and we're paying for it.

redcliffsw · May 01, 2009, 02:08:36 PM

Certainly, gov't can be cut when there is a mandate to do so.

But, how many are ready to support something like our found fathers when
they established the USA?

Probably not many - too many gov't checks being issued to people and companies.
I doubt most of the so-called "conservatives" would give up their entitlements and gov't
checks. Exception would be veterans' benefits which began at the American Revolution.

Diane Amberg · May 01, 2009, 02:54:00 PM

Um, do you guys know how far Eminent Domain goes back? and political influence? Not everybody was happy with their Gov't even way back then. There was plenty of political power to be pushed around and what makes you think the Gov't didn't manage the economy? Who do you think got the military contracts? Who got the best market roads? Whose packet boat got docked and unloaded first? Who scratched whose back when? That kind of thing has always been there. I'm sure they just called it "good business" too.