Winterclaw opened this issue on Feb 15, 2009 ยท 73 posts
operaguy posted Tue, 17 February 2009 at 4:59 AM
Worst urban legend ever: FDR/New Deal worked to end the Depression. It did not. It made things much worse, delayed natural recovery.
And the idea of spending trillions of tax money just because some guy thinks "it will do no harm" is sick.
When the moritorium on taxes gets serious, ways of funding the government will be available. One way is
jolt down all taxes by 30% instantly. Make sure everyone knows it is permanent. This will get the ball rolling. Then take income and capital gains taxes down by 5% more each year for the next 10 years.
reduce government spending at the same time by 30% instantly. Then take down spending by 5% more each year for the next 10 years.
You'd see the greatest blast of productivity and business creation the world has ever known. The housing explosion alone will be insanely great.
A reducing tax rate on more and more wealth creation with less and less government is self-financing. Including paying down the old national debt.
John Donohue