Quote:
Originally posted by baltassoc
Okay, now can you explain to me why it's a good thing to cut taxes to inject more capital into the system to spur the economy at the same time the Fed is jacking up interest rates to lower available capital to slow down the economy and prevent inflation?
Isn't the net effect just a transfer of income from the government to the banks (on a macro level - obviously, individuals affected by the tax cut may or may not be the same as those affected by interest rate hikes)?
|
The point of the tax cuts isn't to inject more capital into the system. The point of the tax cuts is to inject more money into the hands of the wealthy. After 6 years of Bush, I would have thought this would be apparent.
You know, opposing tax cuts for the wealthy does nothing but aid our enemies in the War Against Terror, don't you?
