Comments on: Economist Who Advises Mitt Romney: ‘Rich Are Taxed Enough’

By: Jimmy B

Jimmy B — Tue, 30 Oct 2012 14:37:50 +0000

Robert Reich is not an economist? You do know that he won a Rhodes Scholarship to study ” Philosophy, Politics, and Economics at Oxford University”? Yeah, I guess Oxford University doesn’t count? Of course it does! So I’d say he does qualify as a classically trained economist in every sense of the word.

By: Paul

Paul — Tue, 30 Oct 2012 02:29:48 +0000

I’m at the point now where I think that Romney should win. NOT because I think it will be good for the country. On the contrary, it will be terrible should he win the election. I think that the only way for anyone who backs these regressive policies, needs to see the whole thing completely fall apart before they will understand that what the republicans are trying to sell to the American people is not good for the American people. These policies are only good for a very small percentage of people. I think it has to get drastic before people will understand that trickle-down economics is just a buzz word.

Do I really want Romney to win? No. But apparently no republican can recall living through the Bush administration that did a number on us, so they need to see an America where the rich pay even less taxes, get even more loopholes to keep even more money, they need to see an even more unrestrained Wall Street and what kind of damage that can do. Women and minorities need to loose rights that they’ve gained (Women…why would any of you vote for people who voted against equal pay for women…that boggles my mind!). And gays…you may as well forget it. You are hated by these people!

We, as a country, need to see how bad it can get with a guy like Romney in office before everyone realizes that they are just for themselves

By: Gordon Hilgers

Gordon Hilgers — Mon, 29 Oct 2012 23:04:58 +0000

Isn’t it nice we have economists so dumb as to think that government redistribution of wealth via taxes isn’t productive? While the rich stow their excess wealth in offshore banks that have nothing at all to do with the American people or the needs of the American people, the government uses tax money to hire private industry to do all sorts of things–from strengthening the military to building roads–and people get to live off money that wouldn’t be used if we did it Glann Hubbard’s way.

I’m not an economist, but Glenn Hubbard seems to have conned his way through college.

By: bobby

bobby — Mon, 29 Oct 2012 23:01:45 +0000

I love how conservatives claim that all we need to do is “work hard”.

Working hard is for suckers. I work hard and my tax rate is 33%. However, the guy who does no work at all, has tax shelters, offshores money and collects only income in the form of capital gains pays 15%… how is that working hard? Maybe if we (the US) rewards hard work again, people will actually do it. Right now we reward paper trading and wealth extraction.

By: Barry Lauterwasser

Barry Lauterwasser — Mon, 29 Oct 2012 22:47:05 +0000

The chickens have come home to roost and no one likes it…hahaha…this is exactly what we asked for when we elected president Bush, hailed the tax rebates, lower regulation! we all cried…watch our investments soar! In life, things do not work this way naturally…like the athlete that relied on steriods for artificial results we did the same with our economic “prosperity” now the price must be paid. My hope is that we learn something from this…that the path the tortoise takes make not be as appealing as the hare’s, but it is also not ridden with the pitfalls and dangers…what is wrong with us…what are we rushing to? Slow down, enjoy life a little… quality of life is not determined by how many “things” we have, or how much money we have…this I assure you… I hope America “gets it.”

By: EconGuy

EconGuy — Thu, 25 Oct 2012 19:22:03 +0000

@CARLY SSCHOEN

Not true; He was a Rohes Scholar at Oxford where he studied Philosophy, Politics & Economics.

Nope. As Stiglitz said in BusinessWeek earlier this month, “In good times, you go into surplus. In bad times, you go into deficit. These are bad times.” Right the US Government (and by extension “We the People”) can borrow money at less than 0% real interest, which means we should be investing here in America now. Infrastructure that is woefully below the standards of the industrialized world that needs updating. An education system that needs significant investments into alternative teaching methods and infrastructure, so we can compete against our economic competitors.
I have not seen a poll of economists supporting Romney’s “plan,” maybe because his plan is thin on details so they cannot, or simply because Romney’s plan changes too often to get an accurate response. But I did see a poll of 40 economists, the majority of whom agreed that the stimulus package created jobs.

If you understood what Mr Hubbard is saying, you’d understand that Romney’s plan is to increase taxes on working families and working poor in order to pay for tax cuts for the wealthy. Read between the lines and you will realize that “broadening the tax base” simply means that those who rely on tax credits or typically see tax refunds because their withholding are greater than their liability will now be taxed more, so that tax cuts can be given to those who can afford to shoulder a greater tax burden.

By: lexingtonlady

lexingtonlady — Thu, 25 Oct 2012 15:17:42 +0000

I can’t believe people buy this nonsense.

By: John in VA

John in VA — Thu, 25 Oct 2012 15:16:48 +0000

Whoesvoice, you have one correct thing in you last statement that I agree, lets raise taxes from 35% to 39.6% and then raise taxes from 10% to 15% and then go from almost 50% not paying taxes to the 32% before and cut an additional 30 million from getting more back than they put in. Because we all know tax cuts were only for the rich… Yea Right. You seem to lose what fair is because it is always OK to take from others that work hard and earned their pay and give to others. No one pretends that we should give a hand up to those that need it but hand outs without return is just building an entitlement mentality that stretches across generations. Look at Europe now. Look at the 47 million on food stamps because this President has done so good at creating jobs…Low paying jobs and part time work over well paying jobs. The actual unemployment is much higher when considering the job participation rates because many have simply stopped looking. A better solution is that we get more people employed in higher paying jobs and pay their fair share based on income levels. No one should get tax deductions that make over $1 million in Active income and capital gains should stay where they are at 15%.

By: WhosVoice

WhosVoice — Thu, 25 Oct 2012 14:22:48 +0000

Badbo how is that uniformed? It is true & John this country was better off when the top paid more in taxes. You keep using the word fair what is fair and decides?

By: badBO

badBO — Thu, 25 Oct 2012 13:35:35 +0000

whosvoice…

exactly the kind of uninformed, cult of personality following voter that needs to stop complaining and get a job…and start paying some taxes…