- Oct 10, 2007
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I asked the question since most talk of this concept is very partisan. In good times, if it's your guy then he's responsible. If it's the other guy, then it was your previous guy who's responsible. And, I understand the premise that lowering taxes can be useful - like pruning a bush or tree to make for new growth. I also know that some economic theories are bullshit. For example, reagan's trickle down economics didn't.Originally posted by: jbourne77
Originally posted by: seemingly random
Simple question to gauge your premise.Originally posted by: jbourne77
Originally posted by: seemingly random
Has any president created wealth?Originally posted by: jbourne77
... Clinton created zero wealth. None. He's a textbook example of right place, right time. It's so obvious that it shouldn't need to be said, let alone taught. It's common sense and it's as intuitive as 2 + 2. You can add, can't you?
I'm not sure what you're getting at, but I was simply responding to the notion - the gut-busting-laughable notion - that Clinton created wealth. In fact, not only did Clinton not create the wealth of the 90's, said wealth largely never existed anywhere but on paper.
Has any president from the first george to this last george (thank god we got away from king george, eh?) ever created wealth?
Well, the problem with the question is that it's open to rather ambiguous interpretation. I don't necessarily believe the POTUS has the ability to create wealth as much as he has the ability to impede it.
Contrary to a statement JoS made earlier, high taxes can sap wealth from a nation, and there are fairly basic mathematical equations that demonstrate this. The academic term for this is the "tax wedge". Excessive taxes suppress productivity incentives and voila - GDP takes a hit.
Micro 101
What's different here is that you're contending that no president is able to create wealth. So if presidents don't create wealth, then your tirade about clinton was opportunistic. He didn't create any since no president does.
