August 26, 2008
Fun with National Debt
Posted by scott at August 26, 2008 11:24 AM
The Skeptical Optimist recently posted this review of the "super-important" movie, I.O.U.S.A.. Definitely not for the "debt = deficit" crowd, but everyone else may want to check it out. In a nutshell: it's economic growth that's important!
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Hidden in here is another reason to not vote for Obama Changie McChange: He wants to tax windfall profits from oil companies. The same companies that made roughly 7-8% earnings on that increase. At the same time, the gov't made roughly 18% due to their taxes on the same amount of money. So the gov't profited more.
Secondly, one of the worst things one can do to business growth is to increase taxes. Hell, based on moderate growth rates that have shown to be sustainable, we can actually cut taxes, spur the economy, make more money, and potentially even grow the amount of money the feds get.