Tuesday, July 11, 2006

Lower tax incentives work

Here's another excellent example as to why the Canadian Taxpayers Federation will continue to advocate for lower taxes as a way to spur the economy. Of course the US government still needs to reign in its bloated spending.

  • Did you know that just over the past 11 quarters, dating back to the June 2003 Bush tax cuts, America has increased the size of its entire economy by 20 percent? In less than three years, the U.S. economic pie has expanded by $2.2 trillion, an output add-on that is roughly the same size as the total Chinese economy, and much larger than the total economic size of nations like India, Mexico, Ireland, and Belgium.
  • This is an extraordinary fact, although you may be reading it here first. Most in the mainstream media would rather tout the faults of American capitalism than sing its praises. And of course, the media will almost always discuss supply-side tax cuts in negative terms, such as big budget deficits and static revenue losses. But here’s another suppressed fact: Since the 2003 tax cuts, tax-revenue collections from the expanding economy have been surging at double-digit rates while the deficit is constantly being revised downward.

14 comments:

Robert McClelland said...
This comment has been removed by a blog administrator.
Robert McClelland said...

How foolish do you have to be to post something after it's been widely proven to be filled with gibberish? Why CTF foolish of course.

David MacLean said...

The only factor Kudlow doesn't mention is inflation. It's hardly gibberish. Even if you factor inflation american economic growth has been outstanding.

Money Bags4Me said...

Hey, McClelland shouldn't you be out scaring kids by now?

Or was it parents with kids?

Robert McClelland said...

How about when you factor in that this was achieved by adding about $1.2 trillion to the debt over that time? Not so outstanding then, is it.

David MacLean said...

Certainly does spoil the accomplishment of fantastic economic growth.

Bush is a big spender, to be sure -- and it's not because of the war. It's mostly due to program spending that has been jacked through the roof.

But the economic growth isn't a result of government spending -- two seperate issues.

leftdog said...

NONSENSE! Bush is using the same type of economic logic that your original patron and buddy (Grant Devine) used! Borrow - Borrrow - Borrow -Deficit - Deficit - Deficit!

They are NOT separate issues! It is a rightwing mindset that nearly killed Saskatchewan and which is going to cause huge problesm for future American taxpayers. How can you be so ideologically driven to totally ignore the FACTS!!!

David MacLean said...

Actually, no you are wrong. Grant Devine has never had anything to do with the CTF, and never will. There is no similarity between Bush and Devine on economic politicies. Grant Devine, particularly in his second term, was no different than the NDP -- big handouts to business, direct investment in the economy, and other such nonsense.

Bush has simply never stoped Congress from jacking program spending. In fact, the us governmetn under the bush administration is the biggest spender in decades.

But the sucess of the american economy is becuase of low interest rates and low taxes. Keep in mind this growth is happening despite downtown new york being blown up and cat-5 hurricane sinking an entire city.

The deficit and the economy are two different issues. And Grant Devine never saw growth like Bush is seeing.

now who is being ideological?

Farmer Joe said...

Sick'em Dave!

leftdog said...

I raise the Grant Devine example BECAUSE IT FITS!! BUSH IS LEADING AN ECONOMY THAT IS BASED ON BORROWING - deferring taxes to the future!! That is how Devine operated - borrow borrow borrow!! DEVINE economics = BUSH economics - and as for the CTF ... come on - you guys came into being in 1989 or 1990 and your FIRST order of business was to PRAISE Devine for his plan to 'privatize' various crown entitites!!! Go and do a few google checks (especially Leader post archives ) to see how you are trying to rewrite your associations history!! How typical!!

David MacLean said...

Of course we would support privatization initiatives.

David MacLean said...

I'm sorry leftdog, I can't resist. Did you actually go to the leaderpost archives to look up our statements in 1989-1990? If so, my hat's off to your dedication to the cause of debunking the CTF.

leftdog said...

Thank you for the tip of the hat. I keep quite a scrapbook on both the Fraser Institute and your assoication.

I will cease and desist when:
-I can see a copy of your contributors list.
-I can actually PURCHASE a MEMBERSHIP in your association and attend a general annual meeting so that I can ask questions in an open forum.

David MacLean said...

I don't want you to "cease and desist" -- keep it up!

I've told you this before but I will keep saying it as long as you keep asking (mostly for other readers who might stumble upon this old thread).

The CTF will not release our supporter list because we respect the privacy of our supporters -- and the law requires as much. Show me another organization that publishes it's supporter list (other than political donors) and I'll buy you a beer.

Like Greenpeace, the CFIB, NCC, or most other advocacy organizations, we do not hold annual general meetings with supporters.

Our supporters contribute to policy development through our annual supporter surveys and direct contact with CTF staff across the country.

Membership in the CTF is 100 per cent voluntary -- unlike unions or taxes, for instance. It's the ultimate form of accountability. IF you like what we do, you support us, if not, we respect that.

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