Laffer: 2011 'Tax' Collapse Coming

money news.com ^ | Monday, 07 Jun 2010 09:54 AM | Julie Crawshaw

[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,”.

[Rabin]

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.”

[unkus]

Great. Now the depression can really kick in.

[Oceander]

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).

[boycott]

Thanks, hussein.

[BipolarBob]

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

[Frank_2001]

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;)

[BenLurkin]

[Bean Counter]

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...

[beebuster2000]

working as intended

[unkus]

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

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

[thinkthenpost]

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)!

[tcrlaf]

Bookmark

[SoConPubbie]

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.

[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!

[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!

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

[ItsForTheChildren]

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

Government is the only thing big enough to fix this.

[mlocher]

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.

[Chances Are]

We need more than another Reagan.

We need a Washington.

Or a Jefferson.

CA....

[Ronaldus Magnus]

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.

[Uncle Miltie]

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.