I have problems calling the bill currently in Congress about tax rates a "tax cut" bill. Yes, there are some genuine "cuts". But most of it is fake cuts. Congress and the Bush administration made a promise 10 years ago to raise our taxes at this time. Now the current Congress decides to not actually … Continue reading The “Tax Cut” Bill
Day: December 16, 2010
Tax Cuts, Deficits, Debt
The current bill finding it's way through Congress from Senate to House regarding "tax cuts" will add to the deficit. How much? $857 billion worth. That means that this bill, which is in fact a stimulus bill, is actually a bigger stimulus bill than the one Obama and Congress passed in February 2009. The earlier … Continue reading Tax Cuts, Deficits, Debt
Nope, No Inflation Around Here
The folks who have been opposed to stimulus, either by the government or The Federal Reserve, keep raising the specter of inflation. Often they drag out the ghosts of hyperinflations past in places like 1923 Weimar Germany or modern day Zimbabwe. It's always eithere inflation or government "bankruptcy" that's just around the corner. It's supposedly … Continue reading Nope, No Inflation Around Here
EconProph 