Krugman Obliterated Ryan's Budget / JUB GOP... Response?

[Lostlover]

I was happy that the republicans put forward an idea about tackling the mega deficit. This was until I heard that Ryan's plan is banking on lower taxes bringing in more revenue. Yes, you read that right. Former Fed Chair Greenspan shot this down earlier yet his fellow conservatives have revived this myth. All to lower the tax rates on the rich while increasing tax rates on the poor and middle class to pay for the rich's tax cuts. (I'm convinced that a good portion of GOP voters are comatose.)

Here's Nobel Laureate Krugman's take on Ryan's BS. I can't possibly see the republicans throwing these policies and "ideas" at their base if it was more cerebral.

http://www.nytimes.com/2011/04/08/opinion/08krugman.html?_r=1

JUB republicans, you have to admit. Your politicians take you as fools.

 

[maxpowr9]

While I strongly disagree with Krugman's financial beliefs, any sane economist will tell you that cutting taxes is only a viable option in "robust growth periods" (in economic terms, >7% GDP/annum).

It is as pathetic as the people who believe in 'trickle-down economics' which has been disclaimed again, by every sane economist.

 

[palemale]

As I said in an earlier post today, the Republicans are advancing ideas and policies that have been proven ineffective in advancing economic growth and the well being of the people. It's good for the wealthy and the corporations, though, so they are all for it. How anyone takes them seriously is beyond me.

 

[MoltenRock III]

If anything like the Ryan plan gets passed and Medicare is gutted I would encourage every Jubber under 45 to move to a different country so you can work there and qualify for their retirement programs.

 

[Lostlover]

Now, Fareed Zakaria has joined in on the criticism of Ryan's plan.

The plan does not touch social security. It actually increases defense spending over the next 10 years, then it never actually explains what it will cut from discretionary spending. It simply asserts spending will go down massively.

Pure fantasy on Ryan's part. When will the GOP base wake up from its slumber?

 

[Stardreamer]

The part of reducing taxes is taken from Obama's own debt reduction panel, who put forward that a SERIOUS tax reform plan that eliminated most of the tax deductions and loopholes (many you call corporate welfare) bring in enough revenue to allow the overall marginal tax rates to be lowered while still bringing in more revenue. Its a win/win idea, you can lower taxes while increasing the tax burden on the rich at the same time. But Democrats wanted nothing to do with it.

 

[chance1]

Now, Fareed Zakaria has joined in on the criticism of Ryan's plan.



Pure fantasy on Ryan's part. When will the GOP base wake up from its slumber?

Zakaria, whom I think very highly of ........

also applauded the plan - as a plan that addresses entitlements

also said that the dems are MIA on entitlements

just saying

don't just read the parts u agree with LL

 

[palemale]

The problem of entitlement programs isn't that they seek to provide necessary care and support to people. The problem is that too much of entitlement money goes to corporations. The Republicans fought tooth and nail, with the help of some Democrats, to prevent the federal government from negotiating with pharmaceutical companies over the price of medicine. As a result, they will still get huge federal dollars to make huge corporate profits. Now Ryan wants to give people some money, and it won't be nearly enough, to turn over to health insurers. As if the current HCR doesn't give them enough already.

The major problem is the cost of military spending. Unless this country gets out of permanent war mode, and closes many bases and scales back our military, we are fucked.

 

[palemale]

I just read on the Huffington Post that Reuters is reporting that total military spending worldwide was $1.6 trillion in 2010. The United States spent $698 billion of that amount, or approximately 43%. Close to half of all military spending worldwide is by the United States. That is insane and is economically unsustainable. Defense spending should be cut in half.

 

[JB3]

I just read on the Huffington Post that Reuters is reporting that total military spending worldwide was $1.6 trillion in 2010. The United States spent $698 billion of that amount, or approximately 43%. Close to half of all military spending worldwide is by the United States. That is insane and is economically unsustainable. Defense spending should be cut in half.

Did it break down how much of that is spent on protecting other nations? While I don't disagree that defense spending should be cut dramatically, a lot of people also forget that we spend large sums defending other countries too.

 

[landers]

It's times like these I'm glad I'm Canadian. In a few years we'll have a liberal government again and be back to massive budget surpluses. There will be no squabbling over government involvement because most Canadians recognize that when it comes to healtcare and social support systems, the government is way better than profit driven corporations.

 

[MoltenRock III]

The part of reducing taxes is taken from Obama's own debt reduction panel, who put forward that a SERIOUS tax reform plan that eliminated most of the tax deductions and loopholes (many you call corporate welfare) bring in enough revenue to allow the overall marginal tax rates to be lowered while still bringing in more revenue. Its a win/win idea, you can lower taxes while increasing the tax burden on the rich at the same time. But Democrats wanted nothing to do with it.

You obviously have no idea what you're talking about, as the Ryan plan is seeking to reduce PERSONAL INCOME TAX RATES down to 25% as it's cornerstone. You don't even know what he's proposing. Good grief!

 

[MoltenRock III]

I just read on the Huffington Post that Reuters is reporting that total military spending worldwide was $1.6 trillion in 2010. The United States spent $698 billion of that amount, or approximately 43%. Close to half of all military spending worldwide is by the United States. That is insane and is economically unsustainable. Defense spending should be cut in half.

It's more than that as you are forgetting the billions being spent on Veterans care, nuclear weapons hidden in the Energy Depts budget, interest in off budget wars, etc. The USA spends $1 TRILLION per annum on defense.

 

[Lostlover]

Zakaria, whom I think very highly of ........

also applauded the plan - as a plan that addresses entitlements

also said that the dems are MIA on entitlements

just saying

don't just read the parts u agree with LL

He applauded Ryan just for showing up. Kind of like I did. And even in that compliment, it's still an insult to Ryan because we had no expectations from a republican.

 

[MoltenRock III]

This. The Boomer generation needs to wake up to their fiasco now. You have to be a pretty pathetic group of fucktards if you think you can handicap your successors' education, inherit $4 trillion and expand it to $14 trillion+++++, spend far too much and pocket far more than you need, provide shitty jobs that pay nothing and offer no benefits for your own and definitely for successive generations, absolutely clusterfuck health care to the point of being ineffective and unaffordable insurance scams, outright complain about paying your taxes and refusing to pay your bills, and then expect to sit back and enjoy your retirement of entitlements you never paid for.

And that's ignoring the dumber ones who believe this is the "end times" and the Rapture, Jesus, and all that shit is going to happen within their lifetimes.

They are truly the biggest sellouts the world has ever seen. And to think these assholes claimed be peaceniks only when their draft card was on the line during Vietnam. Too bad they've been cowards their entire lives.

 

[Lostlover]

There, I fixed your text with the bolded part.

This is exactly why I proposed a 15-25% estate tax increase just to deal with the deficit. You can't kill people my age with the bogus Iraq war and pass the trillion dollar bill to future generations without paying for it.

For once, I guess in death, they're actually going to contribute to the country.

This. The Boomer generation needs to wake up to their fiasco now. You have to be a pretty pathetic group of fucktards if you think you can handicap your successors' education, inherit $4 trillion and expand it to $14 trillion+++++, spend far too much and pocket far more than you need, provide shitty jobs that pay nothing and offer no benefits for your own and definitely for successive generations, absolutely clusterfuck health care to the point of being ineffective and unaffordable insurance scams, outright complain about paying your taxes and refusing to pay your bills, and then expect to sit back and enjoy your retirement of entitlements you never paid for while complaining about socialism and "big government."

And that's ignoring the dumber ones who believe this is the "end times" and the Rapture, Jesus, and all that shit is going to happen within their lifetimes.

 

[BostonPirate]

the republican budget for 2012 is a joke, not worth the paper its printed on. It does not increase revenue. It proposes further tax cuts and it kills medicare and medicaid as we know it.

It is DOA

Krugman is an alarmist, an extremist, and cannot be taken seriously, though.

The problem with Krugman is that he likes the glisten of the TV cameras and will say anything sensational to get his name out there in circulation again.

He's an asshole.

 

[MoltenRock III]

the republican budget for 2012 is a joke, not worth the paper its printed on. It does not increase revenue. It proposes further tax cuts and it kills medicare and medicaid as we know it.

It is DOA

Krugman is an alarmist, an extremist, and cannot be taken seriously, though.

The problem with Krugman is that he likes the glisten of the TV cameras and will say anything sensational to get his name out there in circulation again.

He's an asshole.

Krugman isn't that bad, and has been right on a number of things. He was quite spot on when he prognosticated that the stimulus bill was way too small; it was as it turned out. He was right that interest rates would not "skyrocket" as Republican chicken littles clucked over running short term deficits; they haven't. There are a number of others I can name. He did miscall the bank bailout being ineffective; it turned out it was VERY effective, and put a backstop against a global financing meltdown.

His predictions do deserve consideration.

 

[Lostlover]

Krugman isn't that bad, and has been right on a number of things. He was quite spot on when he prognosticated that the stimulus bill was way too small; it was as it turned out. He was right that interest rates would not "skyrocket" as Republican chicken littles clucked over running short term deficits; they haven't. There are a number of others I can name. He did miscall the bank bailout being ineffective; it turned out it was VERY effective, and put a backstop against a global financing meltdown.

His predictions do deserve consideration.

Dr. Krugman also said that austerity measures would cripple the UK economy. And you know what? The UK economy just contracted.

 

[Stardreamer]

You obviously have no idea what you're talking about, as the Ryan plan is seeking to reduce PERSONAL INCOME TAX RATES down to 25% as it's cornerstone. You don't even know what he's proposing. Good grief!

No I don't admittedly, I haven't had a chance to study the Ryan plan. I'm simply pointing out that lower marginal tax rates is not JUST a GOP idea. I've heard several discussions about Ryan's plan and that was one of the tidbits I picked up though it obviously isn't adopting the commission's ideas directly but used them for ideas.

I liked the commission's ideas better. Eliminate the corporate tax exemptions first before raising marginal rates. Get the GE's paying their fair share first before raising taxes otherwise you are wasting your time since they will just find more ways to shelter their funds.