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From: thill@ssc-bee.UUCP (Tom Hill)
Newsgroups: net.politics
Subject: Re: Supply-side Economics: the myth of "increased revenues"
Message-ID: <419@ssc-bee.UUCP>
Date: Mon, 11-Nov-85 10:32:03 EST
Article-I.D.: ssc-bee.419
Posted: Mon Nov 11 10:32:03 1985
Date-Received: Tue, 12-Nov-85 21:08:00 EST
References: <756@whuxl.UUCP> <29200244@uiucdcs> <362@whuts.UUCP> <416@ssc-bee.UUCP> <789@whuxl.UUCP>
Organization: Boeing Aerospace Co., Seattle, WA
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> From Tom Hill, repeating well-established myths: 
> > Well Tim,  the tax revenues have gone up since the tax breaks and that
> > I believe was the thrust behind the bill.  Less taxes for the wealthy
> > means more investment and guess what?  that is exactly what we have seen.
> > Stop running off at the mouth simply because you can't stand T.C.
> > 
> I have posted this before so I will simply summarize the *facts* as
> presented in a New York Times article, Sept. 18,1984:
>   
>   1)Tax revenues have *not* gone up.  Here are the facts:
>      1981                      1982
>     $284.1 billion,        $276.9 billion
>      
	Well Tim, since our revenues were over 700 billion I am wondering
	where you got these figures?  Care to post a source?

>  
>   2)The savings rate has steadily declined.  The rate reported for
>     last month was 1.2% - the lowest rate in decades.
>     That was reported in the New York Times last week as it was
>     announced by the government.
>  

Oh quit this drivel and read an econ book.

>   3)Investment has *not* led the recovery.  In fact investment spending
>     as a percentage of GNP is six-tenths of a percent *below* the
>     12.1% level in the third quarter of 1981.
>     Moreover, consumption spending now accounts for 62.9% of GNP:
>     it accounted for only 62% of GNP in the summer of 1981.
>     (all reported in NYT, Sept. 18,1984)
> 
> These are not myths but facts.  I believe social policy should
> be based upon facts rather than fanciful notions about miraculously
> increasing revenues by reducing taxes.
>  
>                tim sevener  whuxn!orb

You misplace you facts, as usual.  Your poor little fingers must be getting
tired.


	Tom Hill