Economics 101

[Toddsterpatriot]

Reagan dropped tax rates. Why do you feel that caused unemployment?

Walk thru the steps......

I did not say that dropping tax rates caused anything. Bad assumption on your part.

Do cuts in tax rates cause higher unemployment or not?

No

Excellent!

No, not yet. You have not learned anything yet. Next question? What does cutting taxes cause?

You have not learned anything yet.

I've learned that you're not as dumb as I first thought.

What does cutting taxes cause?

Economic growth.

 

[Rshermr]

I did not say that dropping tax rates caused anything. Bad assumption on your part.

Do cuts in tax rates cause higher unemployment or not?

No

Excellent!

No, not yet. You have not learned anything yet. Next question? What does cutting taxes cause?

You have not learned anything yet.

I've learned that you're not as dumb as I first thought.

What does cutting taxes cause?

You have no real idea of how smart or dumb I am, nor I you.

Economic growth?
In some cases.

Economic slowdown?
In some cases.
But first, it causes cancellation of projects and unemployment.
What does that cause?

 

[Toddsterpatriot]

Do cuts in tax rates cause higher unemployment or not?

No

Excellent!

No, not yet. You have not learned anything yet. Next question? What does cutting taxes cause?

You have not learned anything yet.

I've learned that you're not as dumb as I first thought.

What does cutting taxes cause?

Economic growth.

You have no real idea of how smart or dumb I am, nor I you.

Economic growth?
In some cases.

Economic slowdown?
In some cases.
But first, it causes cancellation of projects and unemployment.
What does that cause?

But first, it causes cancellation of projects and unemployment.

Really? Can you show any cancelled projects as a result of Reagan's tax cuts?

 

[Rshermr]

No

Excellent!

No, not yet. You have not learned anything yet. Next question? What does cutting taxes cause?

You have not learned anything yet.

I've learned that you're not as dumb as I first thought.

What does cutting taxes cause?

Economic growth.

You have no real idea of how smart or dumb I am, nor I you.

Economic growth?
In some cases.

Economic slowdown?
In some cases.
But first, it causes cancellation of projects and unemployment.
What does that cause?

But first, it causes cancellation of projects and unemployment.

Really? Can you show any cancelled projects as a result of Reagan's tax cuts?

Bad choice of word on my part, Projects are generally paid for and very hard to cancel. What happened was that budgets were cut across the board, with exceptions. The result was a huge employment cut and a downward spiral toward a 10.8% unemployment rate. So, millions lost jobs. Where from I could look up, but not sure why you would ask

 

[Toddsterpatriot]

Excellent!

No, not yet. You have not learned anything yet. Next question? What does cutting taxes cause?

You have not learned anything yet.

I've learned that you're not as dumb as I first thought.

What does cutting taxes cause?

Economic growth.

You have no real idea of how smart or dumb I am, nor I you.

Economic growth?
In some cases.

Economic slowdown?
In some cases.
But first, it causes cancellation of projects and unemployment.
What does that cause?

But first, it causes cancellation of projects and unemployment.

Really? Can you show any cancelled projects as a result of Reagan's tax cuts?

Bad choice of word on my part, Projects are generally paid for and very hard to cancel. What happened was that budgets were cut across the board, with exceptions. The result was a huge employment cut and a downward spiral toward a 10.8% unemployment rate. So, millions lost jobs. Where from I could look up, but not sure why you would ask

What happened was that budgets were cut across the board, with exceptions.

So you can show a year over year drop in spending in Reagan's first term, before the recession?

but not sure why you would ask

Because the reason for the jump in unemployment was clearly not the tax cuts or the supposed spending cuts that I'll wait for you to prove actually happened.

 

[Rshermr]

No, not yet. You have not learned anything yet. Next question? What does cutting taxes cause?

You have not learned anything yet.

I've learned that you're not as dumb as I first thought.

What does cutting taxes cause?

Economic growth.

You have no real idea of how smart or dumb I am, nor I you.

Economic growth?
In some cases.

Economic slowdown?
In some cases.
But first, it causes cancellation of projects and unemployment.
What does that cause?

But first, it causes cancellation of projects and unemployment.

Really? Can you show any cancelled projects as a result of Reagan's tax cuts?

Bad choice of word on my part, Projects are generally paid for and very hard to cancel. What happened was that budgets were cut across the board, with exceptions. The result was a huge employment cut and a downward spiral toward a 10.8% unemployment rate. So, millions lost jobs. Where from I could look up, but not sure why you would ask

What happened was that budgets were cut across the board, with exceptions.

So you can show a year over year drop in spending in Reagan's first term, before the recession?

Would you like me to wash your car for you, too??? No. Because it takes more time than I am willing to give you. What occurred, in general, was spending was cut to non military areas, and increased in military areas. A major shock occurred that caused unemployment spikes. And a 10.8% ue rate, and a lot of pissed off unemployed. Made the administration about as popular as a fart in church.

One of the more telling things was, when things got really bad and the ue rate went through the roof, reagan did not cut taxes to fix the problem. Reaganomics suddenly went out the window.

Because the reason for the jump in unemployment was clearly not the tax cuts or the supposed spending cuts that I'll wait for you to prove actually happened

I and his budget director beg to differ.

.

 

[Toddsterpatriot]

You have not learned anything yet.

I've learned that you're not as dumb as I first thought.

What does cutting taxes cause?

Economic growth.

You have no real idea of how smart or dumb I am, nor I you.

Economic growth?
In some cases.

Economic slowdown?
In some cases.
But first, it causes cancellation of projects and unemployment.
What does that cause?

But first, it causes cancellation of projects and unemployment.

Really? Can you show any cancelled projects as a result of Reagan's tax cuts?

Bad choice of word on my part, Projects are generally paid for and very hard to cancel. What happened was that budgets were cut across the board, with exceptions. The result was a huge employment cut and a downward spiral toward a 10.8% unemployment rate. So, millions lost jobs. Where from I could look up, but not sure why you would ask

What happened was that budgets were cut across the board, with exceptions.

So you can show a year over year drop in spending in Reagan's first term, before the recession?

Would you like me to wash your car for you, too??? No. Because it takes more time than I am willing to give you. What occurred, in general, was spending was cut to non military areas, and increased in military areas. A major shock occurred that caused unemployment spikes. And a 10.8% ue rate, and a lot of pissed off unemployed. Made the administration about as popular as a fart in church.

One of the more telling things was, when things got really bad and the ue rate went through the roof, reagan did not cut taxes to fix the problem. Reaganomics suddenly went out the window.

Because the reason for the jump in unemployment was clearly not the tax cuts or the supposed spending cuts that I'll wait for you to prove actually happened

I and his budget director beg to differ.

.

What occurred, in general, was spending was cut to non military areas, and increased in military areas.

In general, baloney.

A major shock occurred that caused unemployment spikes.

A major shock? Can you be more specific?

 

[edthecynic]

Reagan dropped tax rates. Why do you feel that caused unemployment?

Probably because unemployment INCREASED dramatically right after the tax cuts started, and unemployment DECREASED right after Reagan began his multiple tax increases and massive spending increases.

 

[edthecynic]

Do cuts in tax rates cause higher unemployment or not?

Reagan proved they do!
Who can argue with the results of St Ronnie's policies?

 

[edthecynic]

What does cutting taxes cause?

Economic growth.

Not for Reagan. As you can see from the chart, GDP fell from St Ronnie's 1981tax cuts and rose after Reagan started raising taxes in 1982.

 

[Toddsterpatriot]

Reagan dropped tax rates. Why do you feel that caused unemployment?

Probably because unemployment INCREASED dramatically right after the tax cuts started, and unemployment DECREASED right after Reagan began his multiple tax increases and massive spending increases.

Probably because unemployment INCREASED dramatically right after the tax cuts started

Why?

 

[Toddsterpatriot]

What does cutting taxes cause?

Economic growth.

Not for Reagan. As you can see from the chart, GDP fell from St Ronnie's 1981tax cuts and rose after Reagan started raising taxes in 1982.

Following enactment in August 1981, the first 5% of the 25% total cuts took place beginning in October. An additional 10% began in July 1982, followed by a third decrease of 10% beginning in July 1983.[4]

Thanks. I always enjoy it when liberals post the refutations of their own claims.

Can you post the chart that shows 7% GDP growth after Obama raised rates?

 

[Rshermr]

You have no real idea of how smart or dumb I am, nor I you.

Economic growth?
In some cases.

Economic slowdown?
In some cases.
But first, it causes cancellation of projects and unemployment.
What does that cause?

But first, it causes cancellation of projects and unemployment.

Really? Can you show any cancelled projects as a result of Reagan's tax cuts?

Bad choice of word on my part, Projects are generally paid for and very hard to cancel. What happened was that budgets were cut across the board, with exceptions. The result was a huge employment cut and a downward spiral toward a 10.8% unemployment rate. So, millions lost jobs. Where from I could look up, but not sure why you would ask

What happened was that budgets were cut across the board, with exceptions.

So you can show a year over year drop in spending in Reagan's first term, before the recession?

Would you like me to wash your car for you, too??? No. Because it takes more time than I am willing to give you. What occurred, in general, was spending was cut to non military areas, and increased in military areas. A major shock occurred that caused unemployment spikes. And a 10.8% ue rate, and a lot of pissed off unemployed. Made the administration about as popular as a fart in church.

One of the more telling things was, when things got really bad and the ue rate went through the roof, reagan did not cut taxes to fix the problem. Reaganomics suddenly went out the window.

Because the reason for the jump in unemployment was clearly not the tax cuts or the supposed spending cuts that I'll wait for you to prove actually happened

I and his budget director beg to differ.

.

What occurred, in general, was spending was cut to non military areas, and increased in military areas.

In general, baloney.
Prove it, me boy. Spending started to increase by the first part of '82. And taxes were increased to raise revenue. No baloney there, me boy. Only baloney is you trying as hard as you can to rewrite history.

A major shock occurred that caused unemployment spikes.

A major shock? Can you be more specific?

What they said, if I can believe their lying eyes, was revenue decreasing in real terms, and unemployment going through the roof. Did you notice?? So, me boy, they had two options: 1. Lower interest rates.
2. Reaganomic proceedures, lower taxes and decrease spending.
3. RAISE TAXES, SPEND STIMULATIVELY.
Now, being supply side guys, and having tried that in early to mid 1981, what did they do to attack the rapidly rising unemployment and increasing deficit?

 

[Toddsterpatriot]

But first, it causes cancellation of projects and unemployment.

Really? Can you show any cancelled projects as a result of Reagan's tax cuts?

Bad choice of word on my part, Projects are generally paid for and very hard to cancel. What happened was that budgets were cut across the board, with exceptions. The result was a huge employment cut and a downward spiral toward a 10.8% unemployment rate. So, millions lost jobs. Where from I could look up, but not sure why you would ask

What happened was that budgets were cut across the board, with exceptions.

So you can show a year over year drop in spending in Reagan's first term, before the recession?

Would you like me to wash your car for you, too??? No. Because it takes more time than I am willing to give you. What occurred, in general, was spending was cut to non military areas, and increased in military areas. A major shock occurred that caused unemployment spikes. And a 10.8% ue rate, and a lot of pissed off unemployed. Made the administration about as popular as a fart in church.

One of the more telling things was, when things got really bad and the ue rate went through the roof, reagan did not cut taxes to fix the problem. Reaganomics suddenly went out the window.

Because the reason for the jump in unemployment was clearly not the tax cuts or the supposed spending cuts that I'll wait for you to prove actually happened

I and his budget director beg to differ.

.

What occurred, in general, was spending was cut to non military areas, and increased in military areas.

In general, baloney.
Prove it, me boy. Spending started to increase by the first part of '82. And taxes were increased to raise revenue. No baloney there, me boy. Only baloney is you trying as hard as you can to rewrite history.

A major shock occurred that caused unemployment spikes.

A major shock? Can you be more specific?

What they said, if I can believe their lying eyes, was revenue decreasing in real terms, and unemployment going through the roof. Did you notice?? So, me boy, they had two options: 1. Lower interest rates.
2. Reaganomic proceedures, lower taxes and decrease spending.
3. RAISE TAXES, SPEND STIMULATIVELY.
Now, being supply side guys, and having tried that in early to mid 1981, what did they do to attack the rapidly rising unemployment and increasing deficit?

Spending started to increase by the first part of '82. And taxes were increased to raise revenue.

Spending definitely increased in 82. Also in 81 and 80. Because it was never cut.
The 81 tax cuts were phased in. Which taxes do you think were raised? By how much?

was revenue decreasing in real terms

If decreased revenue hits increased spending, deficits would rise.
We should all agree that happened.

What was the major shock?

 

[Rshermr]

What does cutting taxes cause?

Economic growth.

Not for Reagan. As you can see from the chart, GDP fell from St Ronnie's 1981tax cuts and rose after Reagan started raising taxes in 1982.

Following enactment in August 1981, the first 5% of the 25% total cuts took place beginning in October. An additional 10% began in July 1982, followed by a third decrease of 10% beginning in July 1983.[4]

Thanks. I always enjoy it when liberals post the refutations of their own claims.

Can you post the chart that shows 7% GDP growth after Obama raised rates?

Can you post the chart that shows that you have gone and fucked yourself??
You are trying, as hard as you can, to rewrite history with cherry picked data. Not going to work for you, me boy.
Can you tell us why, after trying to lower taxes and decrease spending on non military items, and creating a 10.8% ue rate, they did not attack the problem with more supply side measures?
Explain why raising taxes, spending like a drunken sailor, nearly tripling the national debt, and increasing the size of the federal governor helped the economy so much??

 

[Toddsterpatriot]

What does cutting taxes cause?

Economic growth.

Not for Reagan. As you can see from the chart, GDP fell from St Ronnie's 1981tax cuts and rose after Reagan started raising taxes in 1982.

Following enactment in August 1981, the first 5% of the 25% total cuts took place beginning in October. An additional 10% began in July 1982, followed by a third decrease of 10% beginning in July 1983.[4]

Thanks. I always enjoy it when liberals post the refutations of their own claims.

Can you post the chart that shows 7% GDP growth after Obama raised rates?

Can you post the chart that shows that you have gone and fucked yourself??
You are trying, as hard as you can, to rewrite history with cherry picked data. Not going to work for you, me boy.
Can you tell us why, after trying to lower taxes and decrease spending on non military items, and creating a 10.8% ue rate, they did not attack the problem with more supply side measures?
Explain why raising taxes, spending like a drunken sailor, nearly tripling the national debt, and increasing the size of the federal governor helped the economy so much??

You are trying, as hard as you can, to rewrite history with cherry picked data.

That's Ed's chart.

You still don't know why unemployment spiked in 1982? Are you 20 years old?

Explain why raising taxes

Which taxes? How much?

 

[Rshermr]

Bad choice of word on my part, Projects are generally paid for and very hard to cancel. What happened was that budgets were cut across the board, with exceptions. The result was a huge employment cut and a downward spiral toward a 10.8% unemployment rate. So, millions lost jobs. Where from I could look up, but not sure why you would ask

What happened was that budgets were cut across the board, with exceptions.

So you can show a year over year drop in spending in Reagan's first term, before the recession?

Would you like me to wash your car for you, too??? No. Because it takes more time than I am willing to give you. What occurred, in general, was spending was cut to non military areas, and increased in military areas. A major shock occurred that caused unemployment spikes. And a 10.8% ue rate, and a lot of pissed off unemployed. Made the administration about as popular as a fart in church.

One of the more telling things was, when things got really bad and the ue rate went through the roof, reagan did not cut taxes to fix the problem. Reaganomics suddenly went out the window.

Because the reason for the jump in unemployment was clearly not the tax cuts or the supposed spending cuts that I'll wait for you to prove actually happened

I and his budget director beg to differ.

.

What occurred, in general, was spending was cut to non military areas, and increased in military areas.

In general, baloney.
Prove it, me boy. Spending started to increase by the first part of '82. And taxes were increased to raise revenue. No baloney there, me boy. Only baloney is you trying as hard as you can to rewrite history.

A major shock occurred that caused unemployment spikes.

A major shock? Can you be more specific?

What they said, if I can believe their lying eyes, was revenue decreasing in real terms, and unemployment going through the roof. Did you notice?? So, me boy, they had two options: 1. Lower interest rates.
2. Reaganomic proceedures, lower taxes and decrease spending.
3. RAISE TAXES, SPEND STIMULATIVELY.
Now, being supply side guys, and having tried that in early to mid 1981, what did they do to attack the rapidly rising unemployment and increasing deficit?

Spending started to increase by the first part of '82. And taxes were increased to raise revenue.

Spending definitely increased in 82. Also in 81 and 80. Because it was never cut.

Yes, well, Reagan was not president in 1980, and his policies did not take effect until mid 1981,

The 81 tax cuts were phased in. Which taxes do you think were raised? By how much?
There were several. Here, me boy.
1982: The most significant tax increase Reagan signed was also the first. The Tax Equity and Fiscal Responsibility Act of 1982 (yes, another law with a very sexy name) increased taxes by almost 1 percent of GDP.

The 1982 tax increase was "probably the largest peacetime tax increase in American history," said economist Bruce Bartlett, who advised Reagan on domestic policy and then worked as Treasury deputy assistant secretary for economic policy in the George H.W. Bush administration. (An analysis by Jerry Tempalski, an analyst in the Office of Tax Analysis with the U.S. Department of the Treasury, agrees.)

This law was driven by pressure to attack the federal budget deficit, as well as the impression that Reagan’s tax-cutting was partially responsible for lower-than-expected tax revenues.

Bartlett, who reviewed Reagan’s tax record for Tax Notes in 2011, cited a Treasury estimate that the 1982 law raised taxes by almost 1 percent of GDP, or about $150 billion in modern dollars.

was revenue decreasing in real terms


When?

If decreased revenue hits increased spending, deficits would rise.
We should all agree that happened.
Yes, indeed, it did. And that was part of the shock.

What was the major shock?
For con tools, there was no shock. For the politicians who wanted to be re-elected, and for the unemployed, it was the skyrocketing ue rate. Funny, the workers do not like being unemployed and do not reelect politicians in charge.

So, we can agree that the ue rate was heading up quickly, that the electorate were unhappy, and that the deficit was a BIG problem. So, what did Reagan do???

 

[BuckToothMoron]

This should be a mandatory class for every liberal in America. There is not one thing here in the video that could even be remotely disputed. Not one.

Milton Friedman Part I: Economics 101

Which has led to how many Stock Markets crashes?
Too many.

This should be a mandatory class for every liberal in America. There is not one thing here in the video that could even be remotely disputed. Not one.

Milton Friedman Part I: Economics 101

Which has led to how many Stock Markets crashes?
Too many.

Are you suggesting that Socialist countries do not suffer stock market crashes?

 

[BuckToothMoron]

Why should I listen to these asses who helped crash our asses in 2008.............Yeah allowing the too big to fail to self regulate was such a great idea.......

As great as this.........I like to hit my head with a hammer because it feels so good when I stop.

Is the alternative a more socialistic economy, will that eliminate crashes?

 

[Rshermr]

What does cutting taxes cause?

Economic growth.

Not for Reagan. As you can see from the chart, GDP fell from St Ronnie's 1981tax cuts and rose after Reagan started raising taxes in 1982.

Following enactment in August 1981, the first 5% of the 25% total cuts took place beginning in October. An additional 10% began in July 1982, followed by a third decrease of 10% beginning in July 1983.[4]

Thanks. I always enjoy it when liberals post the refutations of their own claims.

Can you post the chart that shows 7% GDP growth after Obama raised rates?

Can you post the chart that shows that you have gone and fucked yourself??
You are trying, as hard as you can, to rewrite history with cherry picked data. Not going to work for you, me boy.
Can you tell us why, after trying to lower taxes and decrease spending on non military items, and creating a 10.8% ue rate, they did not attack the problem with more supply side measures?
Explain why raising taxes, spending like a drunken sailor, nearly tripling the national debt, and increasing the size of the federal governor helped the economy so much??

You are trying, as hard as you can, to rewrite history with cherry picked data.

That's Ed's chart.

You still don't know why unemployment spiked in 1982? Are you 20 years old?
I wish. I do, you are the one who is not explaining why you think it was going up in 1982.

Explain why raising taxes

Which taxes? How much?

Told, you, If you can not use google, I am not interested in training you. If you can not read my posts, I am not going to help you learn to read.