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spudea
06-10-2008, 01:30 PM
I'm reading the news about McCain attacking Obama's economic policy of higher taxes, and I fear he may win because too few people realize the inflation tax and the consequence of deficit spending which McCain will certainly continue and expand.

Which do we prefer? Direct tax or inflation tax?

McCain promises lower taxes and more spending.
Obama promises higher taxes and more spending.

But at least with obama we would have a little better stability, instead of the rollercoaster of inflation.

Danke
06-10-2008, 01:34 PM
I'm reading the news about McCain attacking Obama's economic policy of higher taxes, and I fear he may win because too few people realize the inflation tax and the consequence of deficit spending which McCain will certainly continue and expand.

Which do we prefer? Direct tax or inflation tax?

McCain promises lower taxes and more spending.
Obama promises higher taxes and more spending.

But at least with obama we would have a little better stability, instead of the rollercoaster of inflation.

Direct tax, which we currently don't have on a federal level.


But I would rather have reductions in spending and competing currencies, not just FRNs.

ClayTrainor
06-10-2008, 01:41 PM
in a way i'd rather have inflation tax, just so we can watch the FED crumble faster.

the fed will die a much slower death if inflation doesnt keep up.

let the fed print itself to death, and then repair the system. Direct tax is just another vice that the government has on your balls.

DriftWood
06-10-2008, 01:58 PM
I'm reading the news about McCain attacking Obama's economic policy of higher taxes, and I fear he may win because too few people realize the inflation tax and the consequence of deficit spending which McCain will certainly continue and expand.

Which do we prefer? Direct tax or inflation tax?

McCain promises lower taxes and more spending.
Obama promises higher taxes and more spending.

But at least with obama we would have a little better stability, instead of the rollercoaster of inflation.

Its better to cut taxes.. and force the govt to cut spending. (The govt will not cut spending voluntarily, they will spend any taxes they get.. and still inflate..)

Sure they can inflate lots.. but eventually they have to stop. There is more understanding out there that a high inflation will kill the economy, than that a high tax will do the same. People fail to see that an increased tax can actually decrease the amount of tax revenues that the govt gets. So they might be tempted to increase it some more. It is more common for the fed interest rate to be increased, than it is for the tax rate to be reduced. So i say take the tax cut and starve the beast.

http://en.wikipedia.org/wiki/Starve_the_beast

Cheers