hypocritexposer
Well-known member
Looks like the TOPDawg screwed up again.
I think the CBO got part of this incorrect though...who did it lower tax rates for?
http://townhall.com/tipsheet/kevinglass/2013/01/07/how-the-fiscal-cliff-deal-hurt-a-recovering-economy-n1482984
I think the CBO got part of this incorrect though...who did it lower tax rates for?
Although we expect that the legislation just enacted by the Congress will lead to higher output and income in 2013 we also expect that it will lead to lower output and income later in the decade than would have occurred under prior law. The legislation lowers tax rates for many people—thereby boosting output —but it also expands budget deficits—which will reduce national saving and lower the stock of productive capital, thereby reducing output relative to what would have occurred under prior law.
Economists generally offer three theories for what’s hampering the still- sluggish U.S. economy: the Keynesian theory, which would like to see lower taxes or more government spending; the spending/debt theory, which would like to see both of those reined in; and the uncertainty theory. Under none of them can the deal to avert the “fiscal cliff” be considered an economic success.
http://townhall.com/tipsheet/kevinglass/2013/01/07/how-the-fiscal-cliff-deal-hurt-a-recovering-economy-n1482984