Supply side economics/Reaganomics and Europe

[Wyldgusechaz]

Those pesky Danes and their happy supply side tax reductions!!

>>>Influence beyond the U.S.

Between 1979 and 2002, more than 40 other countries, including the UK, Belgium, Denmark, Finland, France, Germany, Norway, and Sweden cut their top rates of personal income tax. In an article about this, Alan Reynolds, a senior fellow with the Cato Institute, wrote, "Why did so many other countries so dramatically reduce marginal tax rates? Perhaps they were influenced by new economic analysis and evidence from... supply-side economics. But the sheer force of example may well have been more persuasive. Political authorities saw that other national governments fared better by having tax collectors claim a medium share of a rapidly growing economy (a low marginal tax) rather than trying to extract a large share of a stagnant economy (a high average tax)." [10]<<


No wonder those countries are so happy. Lower taxes!!

 

[TurkeyWithaSunburn]

And your source for this information is?

I honestly don't think that's your writing.

You also fail to address the percentage of the population affected by the cuts. If it only affected 1% of the population it would NOT explain why the majority are happy. Surely it can't ONLY be tax cuts that make the majority happy.

Money doesn't determine happiness. Money isn't everything. But having some is better than none.

 

[Phil Ayesho]

Yes- and where are the Danes today?
Why just as fucked as everyone else by their experiment in reaganism...

BTW- Denmark has national healthcare.
How can they possibly be practitioners of reaganomics AND provide public healthcare?


That being said... I have no problem with the people being taxed at the lowest AFFORDABLE rate ( that is- the rate that still pays for government provided services )

The problem I have is that Reganomics ONLY lowers the taxes of the wealthy.
AND- ALL software modeling of economics shows conclusively that Reaganomics ALWAYS results in the concentration of wealth into fewer hands.

Its kind of a bullshit argument, because MOST 'economic indicators' only really measure how the top 10% of a population are doing...
The Stock Market, for example is little more than a measure of how efficiently money is being transferred from diffuse investors into the pockets of majority stock holders.

So, sure, reganomics makes it LOOK like the economy is doing well... for a while...
Until people start to look aorund and notice that freer credit is NOT the same as making more money.
That REAL wages for the vast majority are NOT rising... and that essential services are steadily being cut or underfunded... undermining the future economy in exchange for a small group sucking trillions into their personal fortunes, now.

y'know... exactly what actually happened?