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Thread: Why Supply-Side Economics Is Right And Keynesian Economics Is Wrong

  1. #61
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    Quote Originally Posted by Libertine View Post
    You didn't link to your source with its made up data.
    You'll have to be more explicit - what data are you talking about. Just provide the post number.

  2. #62
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    Quote Originally Posted by Macduff View Post
    HAHAHHAHHAHHAHAAAA!!!!!! Old One Trick here is going to question someone else's source and then post something by Paul Krugman. LOLOLOLOLOL!!!!!!!
    Do mean dr. paul krugman, the guy who won a noble prize in economics?

  3. #63
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    Quote Originally Posted by OldGaffer View Post
    Did Krugman win a Nobel Prize in Economics? Did Stiglitz? How about I quote another dozen economists that say the same thing, trickle down is bullshit and does not work.

    Five Critiques of Arthur Laffer’s Supply-Side Model Show Tax Cuts as Junk Economics

    https://itep.org/debunkinglaffer/?gc...yAAEgJMGPD_BwE

    Why normally sane people fall for this supply side bullshit is beyond me, especially after 35 years of dismal failure.
    I think that should be spelled Laugher.

  4. #64
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    Quote Originally Posted by Macduff View Post
    What did Krugman win the Nobel Prize for? Don't say economics. What specific thesis? I'll give you a clue. It wasn't for when he said 9-11 would be good for the economy or when he proposed solving the national debt with a magic coin.
    Neither. Try again.

  5. #65
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    Quote Originally Posted by Macduff View Post
    Milton Friedman and Robert Mundell have also gotten the Nobel in Economics and are supply siders. So your appeal to authority is not going to work.
    Pinochet and the Chicago boys applied Uncle Milton's economic theories to Chili and proved that capitalism gets along just fine with brutal, totalitarian governments.

    Of course the down side is economic failure.

    Chile can claim economic success. But that is entirely the work of Marxist leader Salvador Allende, who saved his nation, miraculously, a decade after his death.

    In 1973, the year the general seized power, Chile's unemployment rate was cut by 4.3 per cent. In 1983, after 10 years of free-market modernisation, unemployment reached 22 per cent. Real wages declined by 40 per cent under military rule. In 1970, 20 per cent of Chile's population lived in poverty.

    By 1990, the year 'President' Pinochet left office, the number of destitute people had doubled to 40 per cent. Quite a miracle.

    Pinochet did not destroy Chile's economy all by himself. He had the help of academia's most brilliant minds: a gaggle of Milton Friedman's trainees, the Chicago Boys. Under their spell, the General abolished the minimum wage, outlawed union bargaining, privatized the pension system, abolished all taxes on wealth and business profits, slashed public employment, privatised 212 industries and 66 banks and ran a fiscal surplus.

    https://www.theguardian.com/business...ss.theobserver
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  6. #66
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    Quote Originally Posted by labrea View Post
    Pinochet and the Chicago boys applied Uncle Milton's economic theories to Chili and proved that capitalism gets along just fine with brutal, totalitarian governments.

    Of course the down side is economic failure.
    Yes. Because if there's one thing brutal, totalitarian regimes are known for, it's tax cuts.
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    Anyone with an estate larger than 11 million likely paid for the tax bill but it through donations not taxes. I want someone to go through every single estate that paid estate taxes and tally them up. How many of them are ma and pa kettle types on the farm? If my parents left me an estate more than 11 million, I would have shit my pants.
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    Quote Originally Posted by labrea View Post
    You'll have to be more explicit - what data are you talking about. Just provide the post number.
    45

  9. #69
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    Quote Originally Posted by labrea View Post
    Hasn't worked out for the middle class, has it.
    Of course not.

    Supply Side Economics, also known as trickle-down economics, is the same warm piss disguised as lemonade Republicans have been peddling since Reagan.

    It doesn't work. It hasn't worked. And it's not working now. Anyone who thinks it does needs to study the state of Kansas under Sam Brownback.

    Hell, members of Brownback's own party turned on him because he practically, single handedly bankrupted the state.

    Supply side economics does not work. Period.
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    Quote Originally Posted by Macduff View Post
    Yes. Because if there's one thing brutal, totalitarian regimes are known for, it's tax cuts.
    Iraqis didn't pay income tax until Bremer gifted them with a 15% flat tax.

    https://www.washingtonpost.com/archi...=.ff0ee43bdeaf

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