Conservatively Speaking
State Senator Mary Lazich (R-New Berlin) represents parts of four counties: Milwaukee, Waukesha, Racine, and Walworth. Her Senate District 28 includes New Berlin, Franklin, Greendale, Hales Corners, Muskego, Waterford, Big Bend, the town of Vernon and parts of Greenfield, East Troy, and Mukwonago. Senator Lazich has been in the Legislature for more than a decade. She considers herself a tireless crusader for lower taxes, reduced spending and smaller government.
You do not tax your way out of a recession
Just ask
Nine times residents went to the polls to consider implementing a state sales tax. Nine times voters rejected the idea.
It is stunning
With an increase of $727 million poring into
Stateline reports, “In May, stunned lawmakers listened as the state economist outlined a new, $577 million shortfall in the current, two-year budget — the result of continued hemorrhaging in income tax collections. Last month, the National Conference of State Legislatures released a report showing
What happened to the money from the January tax increases?
The January tax increase ballots provide a lesson, and will be a hot campaign issue this fall in
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It's conservative lore that Reagan the icon cut taxes, while George H.W. Bush the renegade raised them. As Stockman recalls, "No one was authorized to talk about tax increases on Ronald Reagan's watch, no matter what kind of tax, no matter how justified it was." Yet raising taxes is exactly what Reagan did. He did not always instigate those hikes or agree to them willingly--but he signed off on them. One year after his massive tax cut, Reagan agreed to a tax increase to reduce the deficit that restored fully one-third of the previous year's reduction.
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As long as were reading economic articles I suggest we all read this one http://www.marketwatch.com/story/reagan-insider-gop-destroyed-us-economy-2010-08-10?
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As long as were reading economic articles I suggest we all read this one http://www.marketwatch.com/story/reagan-insider-gop-destroyed-us-economy-2010-08-10?
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Mr. Reagan - I didn't know you were still with us. Anyway - yes, I enjoy reading any such articles authored by experts, and appreciate the link. I will not, however, limit myself to just this one article. I enjoy reading the educated opinions of all experts on a particular topic.
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Padraig
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This would be a fine example of why increased tax rates do not result in increased tax revenue - if only all things were held equal. But they're not. Reading the article makes it clear that Republicans in Oregon are saying that increasing income taxes on the rich reduces tax revenue; and Democrats in Oregon are saying that the budget deficit would have been massively worse without the added tax burden on the rich. So who's right? Hard to tell, because the increased unemployment rate in Oregon - the major and real cause of the revenue shortfall - is not unlike the increased unemployment rate in other states that did not raise taxes.
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Back to topBig Pete - Aug 23, 2010 5:54 PM - Report Abuse
Faced with looming deficits, Reagan raised taxes again in 1983 with a gasoline tax and once more in 1984, this time by $50 billion over three years, mainly through closing tax loopholes for business. Despite the fact that such increases were anathema to conservatives--and probably cost Reagan's successor, George H.W. Bush, reelection--Reagan raised taxes a grand total of four times just between 1982-84.
Big Pete - Aug 23, 2010 5:37 PM - Report Abuse
It's by David Stockman, President Ronald Reagan's director of the Office of Management and Budget and shows how the GOP has destroyed the economy over the last 30 years.
Big Pete - Aug 23, 2010 5:35 PM - Report Abuse
It's by David Stockman, President Ronald Reagan's director of the Office of Management and Budget and shows how the GOP has destroyed the economy over the last 30 years.
Padraig - Aug 23, 2010 1:32 PM - Report Abuse
rnldreagan - Aug 23, 2010 12:10 PM - Report Abuse
Would you believe Art Laffer? He is an economist, and here is an article he wrote for the Wall Street Journal on the subject. http://online.wsj.com/article/NA_WSJ_PUB:SB10001424052748704113504575264513748386610.html
Padraig - Aug 23, 2010 11:53 AM - Report Abuse
There is a plausible economic argument on both sides - and I would much rather listen to the reasoned explanations of economists than the predictable press releases of politicians.