Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Laffer: 2011 'Tax' Collapse Coming
money news.com ^ | Monday, 07 Jun 2010 09:54 AM | Julie Crawshaw

Posted on 06/07/2010 8:54:29 PM PDT by Rabin

Tax hikes expected to hit after the expiration of the Bush tax cuts will cause today's corporate profits to tumble next year — probably right after a stock market collapse, says economist Arthur Laffer, chairman of Laffer Associates and inventor of the Laffer Curve.

“My best guess is that the train goes off the tracks and we get our worst nightmare of a severe 'double dip' recession,”.

(Excerpt) Read more at moneynews.com ...


TOPICS: Business/Economy; Government
KEYWORDS: laffercurve; tax
Lots and lots of changes will also occur as a result of the sunset provision in the Bush tax cuts,” he wrote in the Wall Street Journal. “Tax rate increases next year are everywhere.”
1 posted on 06/07/2010 8:54:29 PM PDT by Rabin
[ Post Reply | Private Reply | View Replies]

To: Rabin

Great. Now the depression can really kick in.


2 posted on 06/07/2010 8:56:01 PM PDT by unkus
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rabin
Indeed. It's a pretty decent article as far as op-ed articles go, although I'd like to read a version that wasn't lightened up for the op-ed pages (don't know if that exists, just trying to paint the picture).


3 posted on 06/07/2010 8:56:06 PM PDT by Oceander (The Price of Freedom is Eternal Vigilance -- Thos. Jefferson)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rabin

Thanks, hussein.


4 posted on 06/07/2010 9:00:04 PM PDT by boycott (CAL)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rabin

Biden says :”This is a big f**ng deal”.


5 posted on 06/07/2010 9:02:44 PM PDT by BipolarBob (Call me Mr. YOPIOS please.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rabin

The solid, filibuster-proof CONSERVATIVE REPUBLICAN Congress that WILL be sworn in as of Jan 2011, will revive those tax cuts. Help is on the way, America! (But only if YOU vote for it;)


6 posted on 06/07/2010 9:07:48 PM PDT by Frank_2001
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rabin

7 posted on 06/07/2010 9:08:20 PM PDT by BenLurkin
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rabin

All I’m lacking in my long-term survival package is a barrel of whiskey, and I’m looking for a source that can give me a deal on one...or two...


8 posted on 06/07/2010 9:12:16 PM PDT by Bean Counter (Stout hearts...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rabin

working as intended


9 posted on 06/07/2010 9:16:38 PM PDT by beebuster2000
[ Post Reply | Private Reply | To 1 | View Replies]

To: Frank_2001

Help is on the way, America! (But only if YOU vote for it;)


Get out the word people! Every day, in every way possible, we must do what we can to wake people up!


10 posted on 06/07/2010 9:20:52 PM PDT by unkus
[ Post Reply | Private Reply | To 6 | View Replies]

To: Frank_2001
Nothing personal:

Ridiculous, while the Congress President Bush had was not particularly Consevative they had three or four years to make those cuts permanent and while I remmber some talk about it, I don’t recall any votes. IMO, if they couldn’t do it then, they aren’t going to do it now, (or in January)!

11 posted on 06/07/2010 9:27:00 PM PDT by thinkthenpost
[ Post Reply | Private Reply | To 6 | View Replies]

To: Rabin

Bookmark


12 posted on 06/07/2010 9:32:41 PM PDT by tcrlaf (Obama White House=Tammany Hall on the National Mall)
[ Post Reply | Private Reply | To 1 | View Replies]

To: thinkthenpost; Frank_2001
Ridiculous, while the Congress President Bush had was not particularly Consevative they had three or four years to make those cuts permanent and while I remmber some talk about it, I don’t recall any votes. IMO, if they couldn’t do it then, they aren’t going to do it now, (or in January)!

This time they will have the Tea Partiers behind them with PitchForks "gently" prodding them along.
13 posted on 06/07/2010 9:33:47 PM PDT by SoConPubbie
[ Post Reply | Private Reply | To 11 | View Replies]

To: unkus

I don’t want anyone to suffer but logic dictates the longer we wait for the collapse the worse it will be for our children.

We were heading this direction long before Obama who has greatly accelerated the failed policies responsible for our dire situation. Too many Republicans have been on the same path. There is NO chance the current leadership in D.C. can fix this or respond appropriately.

We really need another Reagan!


14 posted on 06/07/2010 9:52:38 PM PDT by volunbeer (Dear heaven.... we really need President Reagan again!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: volunbeer

I don’t want anyone to suffer but logic dictates the longer we wait for the collapse the worse it will be for our children.

We were heading this direction long before Obama who has greatly accelerated the failed policies responsible for our dire situation. Too many Republicans have been on the same path. There is NO chance the current leadership in D.C. can fix this or respond appropriately.

We really need another Reagan!


I agree with every thing you say. I don’t see a Ronald Reagan on the horizon. But maybe......


15 posted on 06/07/2010 9:55:07 PM PDT by unkus
[ Post Reply | Private Reply | To 14 | View Replies]

To: Rabin
Have no fear. They won't let this crisis go to waste.

Government is the only thing big enough to fix this.

16 posted on 06/07/2010 10:03:29 PM PDT by ItsForTheChildren
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rabin

Personally, I believe the economy is in for a double dip without the Bush Tax cuts being repealed. There have been enough other tax increases to make the case for a double dip, and we have not yet begun to see the effect of the HC Reform tax increases.


17 posted on 06/07/2010 10:05:34 PM PDT by mlocher (USA is a sovereign nation)
[ Post Reply | Private Reply | To 1 | View Replies]

To: volunbeer

We need more than another Reagan.

We need a Washington.

Or a Jefferson.

CA....


18 posted on 06/07/2010 10:35:02 PM PDT by Chances Are (Whew! Seems I've found that silly grin again!)
[ Post Reply | Private Reply | To 14 | View Replies]

To: Rabin

We are finally sliding down the far side of the Laffer curve. The only up-side is that there will no longer be any reason to work.


19 posted on 06/07/2010 10:39:26 PM PDT by Ronaldus Magnus
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rabin

I’ve been selling in preparation. The problem is, the devastation is already and will continue to be so widespread that avoiding it is darned near impossible.


20 posted on 06/07/2010 10:41:56 PM PDT by Uncle Miltie (0bummer calls opponents "Teabaggers". So we can call Kagan "Carpet Muncher." Right?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Chances Are

I’ll take a John Adams.


21 posted on 06/07/2010 10:56:13 PM PDT by comebacknewt
[ Post Reply | Private Reply | To 18 | View Replies]

To: Frank_2001
The solid, filibuster-proof CONSERVATIVE REPUBLICAN Congress that WILL be sworn in as of Jan 2011, will revive those tax cuts.

School House Rock is your friend. The Congress can do what it wants, but unless there is a 2/3rds majority in both chambers, President Obama can simply veto the bill. And the tax cuts go away.

22 posted on 06/07/2010 11:13:02 PM PDT by PugetSoundSoldier (Indignation over the Sting of Truth is the defense of the indefensible)
[ Post Reply | Private Reply | To 6 | View Replies]

To: comebacknewt

I’ll take a John Adams.
____________

I like Sam’s methods better.


23 posted on 06/08/2010 4:16:25 AM PDT by maine yankee
[ Post Reply | Private Reply | To 21 | View Replies]

To: Rabin

bump!


24 posted on 06/08/2010 4:23:35 AM PDT by EBH (Our First Right...."it is the Right of the People to alter or to abolish it,")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Ronaldus Magnus

“The only up-side is that there will no longer be any reason to work.”
////////////////////////////////////////////////////////////

That is as bad as what I told a young worry wart once, “There is nothing to worry about, the worst thing that can happen is that you die and that’s guaranteed to happen someday anyway.”


25 posted on 06/08/2010 5:09:14 AM PDT by RipSawyer (Trying to reason with a leftist is like trying to catch sunshine in a fish net at midnight.)
[ Post Reply | Private Reply | To 19 | View Replies]

To: RipSawyer
Always look on the bright side of life...

http://www.youtube.com/watch?v=1loyjm4SOa0


26 posted on 06/08/2010 6:15:33 AM PDT by Neidermeyer
[ Post Reply | Private Reply | To 25 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson