Message from @Neco2040

Discord ID: 543171371224793108


2019-02-07 20:38:35 UTC  

Every time we deregulate and cut taxes, there is growth for a short period of time, then the economy crashes

2019-02-07 20:38:54 UTC  

But why does supply side cause it?

2019-02-07 20:38:59 UTC  

you do know correlation is not causation

2019-02-07 20:39:08 UTC  

So why do tax cuts and deregulation cause it?

2019-02-07 20:42:55 UTC  

If it happened once, the causation-correlation argument would be reasonable, but it happens time and time again

2019-02-07 20:43:26 UTC  

Nope thats still not causation

2019-02-07 20:43:40 UTC  

Why do tax cuts cause recessions(or the business cycle)

2019-02-07 20:43:48 UTC  

and why does deregulation cause the business cycle

2019-02-07 20:45:35 UTC  

For example, in '08, the market crashed because of the deregulation of glass steagall, banks were investing in deravitives with our money

2019-02-07 20:45:46 UTC  

derivatives*

2019-02-07 20:45:59 UTC  

But glass stegal had nothing to do with the crash

2019-02-07 20:46:04 UTC  

nor was glass steagal fully deregulated

2019-02-07 20:46:09 UTC  

it was deregulated 1/4th

2019-02-07 20:46:22 UTC  

But thats a different topic and I'll debate that later

2019-02-07 20:46:32 UTC  

Why do tax cuts cause recessions? or the business cycle

2019-02-07 20:46:52 UTC  

I don't know how much tax cuts contribute to recessions, but my main issue with tax cuts for the wealthy is that it's harder to balance the budget and pay for programs to help Americans

2019-02-07 20:47:05 UTC  

But then why do you think they cause recessions?

2019-02-07 20:47:16 UTC  

(fun fact everytime a tax cut has happened, tax revenue has risen)

2019-02-07 20:47:21 UTC  

which completely goes against that thought

2019-02-07 20:47:39 UTC  

Not to mention, most tax cuts are for the general population ( which includes the wealthy)

2019-02-07 20:49:06 UTC  

I would contribute most of the blame to deregulation not tax cuts. But tax cuts do play a role as-well. For example, corporations are using their tax cuts for stock buy-backs

2019-02-07 20:49:14 UTC  

which artificially inflates the market

2019-02-07 20:49:20 UTC  

But that still doesn't explain how that causes a recession?

2019-02-07 20:49:24 UTC  

Stock buybacks don't do anything such

2019-02-07 20:49:25 UTC  

And 'fun fact' isn't true

2019-02-07 20:49:29 UTC  

but what do they "inflate"

2019-02-07 20:49:35 UTC  

Neco I can list every tax cut, and it's raised tax revenues

2019-02-07 20:49:48 UTC  

Coolidge tax cuts, Harding, Reagan, JFK, Bush, Trump

2019-02-07 20:49:55 UTC  

These are one of few

2019-02-07 20:50:02 UTC  

THe deficit literally went up

2019-02-07 20:50:12 UTC  

They inflate the stock market

2019-02-07 20:50:22 UTC  

Deficit due to the spending increasing

2019-02-07 20:50:30 UTC  

How do stock buybacks inflate the stock market?

2019-02-07 20:51:28 UTC  

@Neco2040 But thats not the main point actually, my point is these cycles have happened even when supply side policies haven't been in action

2019-02-07 20:51:34 UTC  

So it cannot be supply side policies at place

2019-02-07 20:52:45 UTC  

The deficit goes up every time we have cut taxes, this really isn't debatable

2019-02-07 20:52:49 UTC  

Nope

2019-02-07 20:52:55 UTC  

Coolidge cut the debt by a 1/3rd

2019-02-07 20:53:01 UTC  

and he cut taxes big time

2019-02-07 20:53:02 UTC  

It inflates the market because they are buying stock...

2019-02-07 20:53:14 UTC  

Buying stock does not "inflate" the market