The Tax Debate and the Laffer Curve

[whaeffner1]

"The American people, the most generous on earth, who created the highest standard of living, are not going to accept the notion that we can only make a better world for others by moving backwards ourselves. Those who believe we can have no business leading the nation."
-Ronald Reagan

"The problem with socialism is that eventually you run out of other people's money [to spend]."
-Margaret Thatcher

"Washington does not have a revenue problem. Washington has a spending problem."
-John Boehner

[J. J.]

The 1929 recession was caused by debt; what helped it become the Great Depression was Smoot-Hawley.

The difference today is a lot of the debt is government debt, something there wasn't a lot of in 1929.

Oh my gosh you are one ass-backwards mofo.

Try reading economics texts, you might learn something, unless the pox has entirely rotted you brain.  People were leveraged and couldn't meet the margin calls.  That was the proximate cause of the crash.

(That's also why I sold off silver coins just before Black Thursday.)

People, i.e., not the government. They are not at all the same, nor is their debt. This recession was also caused by debt. Debt belonging to the people in the form of mortgages. Mortgages and government debt are, once again, not remotely the same.

That government debt, however, is creating a problem, at this point.