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[QUOTE]Originally posted by Crack_Dealer: [QB] [QUOTE]Originally posted by Kitty: [qb]You have the typical thinking that most people have; that to shrink the deficit and have a blanaced budget, you need to 1. Raise taxes or 2. Cut spending. Either way, you are cutting the supply of money in the economy, which hurts business whether you are big or small. The golden rule in economics is that to have a growing ecomonyg, you need a growing supply of money. Raising taxes will not do that and is not the most effective way to shrink the defecit. Scott is right, tax cuts do spur the economy and the reason that the middle and upper class tend to be the target is because these people are more likesly to reinvest the money rather then spend it on something useless. That is the goal of tax cuts with the government; put money back in the hands of the investors that will use save it through various methods such as government bonds, etc. (i.e. giving the money back to the government to reduce the deficit or fund whatever programs it wants all while strengthing the economy).[/qb][/QUOTE]So why doesn't it work? It just makes perfect sense that if you (the government) need money to pay for something, you have to find the money elswhere. BALANCED BUDGET!! It works, CLINTON HAD RECORD SURPLUSES BECAUSE OF IT!!! Maybe the government needs to stop taking handouts and live within there means and not pay for stuff unless they can pay for it. [/QB][/QUOTE]
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