Greenspan: End Bush Tax Cuts!

[Gayle in MD]

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Former Federal Reserve Chairman Alan Greenspan's support for the 2001 Bush tax cuts helped sway many members of Congress into making them law.

Now Greenspan has weighed in on whether to renew those cuts, which expire at the end of this year. His opinion: Let them expire next year. All of them.

"They should follow the law and let them lapse," Greenspan said in an interview on Bloomberg Television's "Conversations with Judy Woodruff." The government needs the revenue, he said, to reduce the federal budget deficit.
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http://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches.aspx?post=1782934

[LWW]

Do you agree with Greenspan?

LWW

[eg8r]

Pretty interesting. While he admits there is harm done in letting them expire he now thinks the revenue outweighs that cost. Let's see if Congree agrees.

eg8r &lt;~~~cracks up with this love/hate affair the left have with Greenspan

[eg8r]

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Greenspan said reducing the deficit is "going to be far more difficult than anybody imagines" after "a decade of major increases in federal spending and major tax cuts."
</div></div>I absolutely agree with Greenspan here. I know this is just a dream considering the current Dems and Reps but I surely hope that with every increase in taxes there will be an equivalent decrease in current spending.

eg8r

[pooltchr]

Don't count on it. If revenues increase, our congress, regardless of which party is in control, will have it spent before it ever gets to Washington.

I will remain firmly against any tax increase until they start eliminating waste, and start reducing the size of government and cutting spending.

But, I doubt that will happen.

Steve

[cushioncrawler]

Greenspan iz a krappynomicyst. No better than the rest.
madMac.

[Qtec]

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">U.S. financial bailout figure hits $3.7 trillion

(Reuters) - Increased housing commitments swelled U.S. taxpayer infusions into the nation's financial system by $700 billion in the past year to around <span style='font-size: 14pt'>$3.7 trillion</span>, a government watchdog said Wednesday. </div></div>

Q