Re: [semi-OT, definitely TIC] US Collapse was: Fuel Cells was: Space Programs (warning future history comments may arise.... ;))

----- Original Message -----
From: "Laserlight" <laserlight@quixnet.net>

> > I much prefer - US citizens rack up unprecedented credit card debt
> to shore up falling economy,
> > excessive government spending and decreased taxation leads to large
> budget deficits.
>
> mmm, IIRC decreased taxation led to larger government revenues?
> Recent history is not my forte, but isn't this what Kennedy and Reagan
> did?

That's what voodo economists want you to believe. Don't know about
Kennedy.
Reagan lowered tax percentages. If government revenue increased, that
means
that taxes in absolute terms increased. And remember, he ramped up
government spending, accumulating deficits. Sounds pretty Keynesian to
me -
they jsut didn't call it that.

> I grant that "unprecedented credit card debt" and "increased
> government spending" lead to problems.

Not if covered by adequate income.

Greetings
Karl Heinz