@drifterted Taxes can control inflation and economic expansion. Congressman Kirk and Republicans are in the right place on this issue, asking for another extension on all of the Bush era tax cuts. I don't agree with all Fed policy, but your criticism is on the verge of delusional. Why don't you pick up a copy of The Economist.
@JohnRhysMusician Taxes do NOT control inflation. Taxes control the velocity of money. Inflation as you and the Federal Reserve call it is actually monetary deflation. The fact that the Fed wants to run a QE2 to stop deflation is completely insane! Look at the commodities markets and the grocery store. The copper pipes in my basement went up in value more than any stock since the bailouts started. We are in danger of Stagflation or even hyperinflation.
@Christhepolitic Increased taxes do not necessarily mean increased revenues. With the Bush tax cuts revenues actually increased and we did not run a deficit until 2006, a year after Hurricane Katrina, and the height of the Iraq War. Increased taxes is a way to control inflation, but because we are in a slow recovery and are in danger of experiencing rapid deflation it could be dangerous to alter tax policy. Congressman Kirk is in the right place on this issue.
@drifterted Taxes can control inflation and economic expansion. Congressman Kirk and Republicans are in the right place on this issue, asking for another extension on all of the Bush era tax cuts. I don't agree with all Fed policy, but your criticism is on the verge of delusional. Why don't you pick up a copy of The Economist.
JohnRhysMusician 1 year ago
@JohnRhysMusician Taxes do NOT control inflation. Taxes control the velocity of money. Inflation as you and the Federal Reserve call it is actually monetary deflation. The fact that the Fed wants to run a QE2 to stop deflation is completely insane! Look at the commodities markets and the grocery store. The copper pipes in my basement went up in value more than any stock since the bailouts started. We are in danger of Stagflation or even hyperinflation.
drifterted 1 year ago
@kicnbac Exactly... Kirk is as bad as Giannoulias
Vote MIKE LABNO for IL US Senate !!!
drifterted 1 year ago
Democrats like Alexi support tax hikes because they don't pay theirs.
StoogeWatcher 1 year ago
@Christhepolitic He wont. Hes a rino. I dont know why he just doesn't get it over with and run as a dem
kicnbac 1 year ago
RINO
kicnbac 1 year ago
@Christhepolitic Increased taxes do not necessarily mean increased revenues. With the Bush tax cuts revenues actually increased and we did not run a deficit until 2006, a year after Hurricane Katrina, and the height of the Iraq War. Increased taxes is a way to control inflation, but because we are in a slow recovery and are in danger of experiencing rapid deflation it could be dangerous to alter tax policy. Congressman Kirk is in the right place on this issue.
JohnRhysMusician 1 year ago
How are you going to balance the budget while supporting a bunch of tax cuts with our current deficit?
Christhepolitic 1 year ago