ABC’s Muir and Klein Fret Tax Agreement Will Make Deficit ‘Even Worse’
During a discussion of the agreement to prevent tax rates from increasing in January, on ABC’s World News Sunday, anchor David Muir and ABC’s senior Washington correspondent Rick Klein fretted that the federal budget deficit would increase - against the wishes of the voters - as a result of both the blocking of a tax increase and the extension of unemployment benefits. But neither acknowledged that raising taxes could depress the economy and cause tax revenue losses. After a full report had run that recounted the agreement to extend the Bush tax cuts, Muir conveyed his belief that the plan contradicts voter concerns about the deficit during his discussion with Klein. Muir:
And, Rick, quickly, this comes after voters in the midterms seemed so concerned about government spending and the deficit, and yet, we’re hearing now about tax cuts and more spending for the benefits.
Klein warned that "everything that Congress is set to do is going to make" the budget deficit and national debt problems "even worse," and complained about less revenue being collected when "you’re cutting taxes." Klein:
Yeah, all this talk in Washington about deficit and debt, and everything that Congress is set to do is going to make those problems even worse. The problem is, these are the easy things, when you extend unemployment benefits, you’re spending more money, you’re cutting taxes, it means less revenue is coming in. All of those things blow bigger
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Comments
I love how they say that not
Submitted by Reaver on Sun, 12/05/2010 - 10:15pm.
I love how they say that not raising taxes will increase the deficit. Elitist economics “all your money are belong to us.”
My favorite is when they
Submitted by Radical1979 on Sun, 12/05/2010 - 10:31pm.
My favorite is when they refer to tax cuts as "giving money to the rich". The government can't give someone what they already own.
Let me help you understand
Submitted by TheHistorian on Sun, 12/05/2010 - 10:27pm.
Cutting taxes has stimulated the economy every time it has been tried. After the Bush tax cuts, the economy grew so much that the deficit was relatively low despite the war.
Obama's spendaholic stupor has NOT stimulated the economy. We are in worse shape than we were predicted to be before the stimulus was passed. Bernanke's "easing" will flood the economy with so much currency, that when it takes off again, inflation will soar. Bernanke's got no way to pull money back out short of high interest rates. Want to see 20% interest again? Watch Bernanke when he has thrown another $4T in. You will see inflation that will make us look like Zimbabwe or the Weimar Republic.
The only course of action is to cut taxes to stimulate the economy and CUT SPENDING!!! We need to get a surplus going so that when the Bernanke/Obama economic genius team crashes the economy there will be a little bit of play left. Then we also will have some money to pay for Social Security and Medicaid.
But you can't explain this to people with no education and no ability to learn. Hence, ABC will continue to fret.
Dennis Prager
Why the hell does nobody in
Submitted by Apache on Sun, 12/05/2010 - 11:22pm.
Why the hell does nobody in the media understand or present the Laffer Curve? Why does a complete shifty eyed hack like Krugman get presented as an expert yet nobody can slap two brain cells together to ask how the government can bring in more money via lower taxes. They don't care about bringing more money into the government. They only care about getting more Ds in power and class warfare is the ticket to that. It is insane.
Unemployment is paid for
Submitted by Apache on Sun, 12/05/2010 - 11:33pm.
For the entirety of this recession and supposed loss of a huge number of jobs, we have yet to see any increase in the amount of people coming into our company asking for jobs. We had a job opening and could not fill it. We had no serious applicants. The only people who came in were not interested in the job they just accidently stumbled into a company that was hiring. They just wanted to fulfill the requirements for the benefits. If the dumbocrats wanted to reverse their bad fortune of having high unemployment numbers, THEY NEED TO STOP PAYING PEOPLE TO BE UNEMPLOYED!!!!! You pay for what you want more of. We keep extending unemployment, we keep getting unemployment. We are now in an Idiocracy. We will be watering crops with Gatorade this time next year because it is the "thirst quencher". How did common sense become so contrarian and so politically incorrect? The democrat party is set on self destruct but it's taking us all with it. JFK would be branded a radical right winger today.
It's got electrolytes!
Submitted by ThatDude on Mon, 12/06/2010 - 1:33am.
It's got electrolytes!
I love that movie. But Mike
Submitted by Apache on Mon, 12/06/2010 - 2:34am.
I love that movie. But Mike Judge must be from the future.
Our group practice has....
Submitted by drsamherman on Sun, 12/05/2010 - 11:42pm.
...over ten openings we cannot fill at the entry level. New college graduates are expecting $100K+ salaries with no experience, and they chafe when you tell them the world just does not work that way.
Makes me wonder.
Dr Sam, I know of a guy who
Submitted by Radical1979 on Sun, 12/05/2010 - 11:47pm.
Dr Sam, I know of a guy who graduated in May and was lucky enough to find a job. He's angry because he rented a shore house last summer and was chewed out for leaving early on a Friday to head down there. He also was ticked when his boss gave him grief for showing up to do a presentation two minutes late.
Our country is doomed if the majority of workers have this attitude.
Roll back the spending levels
Submitted by eaglewingz08 on Mon, 12/06/2010 - 2:17pm.
Roll back the spending levels to 2007. No problems.