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Presidential Debate Thread - Obama vs. Romney (1 Viewer)

'17seconds said:
'CrossEyed said:
Basic philosophical difference. Obama thinks the economy grows from government distributing money to individuals. Romney thinks it grows by businesses having more money to hire. It really comes down to that.
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Middle class tax relief means the money never makes it to the govt.And I don't trust that businesses always flow money down to hiring US workers, do you?
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Well the fiscal multiplier is usually greater on government spending, although economists debate about this. On top of that, businesses have no faith in the market, so they aren't going to reinvest it regardless of who is in office (although I guess you could argue this point). And finally, the recession showed businesses they don't need as many people and more people are willing to work 50-60 hours meaning less jobs for the rest. But the rich are saving more, so if they don't want to spend it, then why not tax it at a higher rate? They aren't investing or spending, just putting it in low yield accounts.
 
'snowmonkey501 said:
'Slapdash said:
Still no answer from Romney about why his math doesn't work out. Do that voodoo!
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when the economy grows revenues into the government increase. its not a zero sum gain.
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Tax cuts do not pay for themselves. No serious economist would back that statement up given the last 30 years of history. It'd be cool it if was true, but it isn't. Here is Mitt Romney advisor and former W CEA Greg Mankiw:I used the phrase "charlatans and cranks" in the first edition of my principles textbook to describe some of the economic advisers to Ronald Reagan, who told him that broad-based income tax cuts would have such large supply-side effects that the tax cuts would raise tax revenue. I did not find such a claim credible, based on the available evidence. I never have, and I still don't.
 
Last edited by a moderator:
Obama is back to being charming with that ####eating grin watching Mitt squirm on the women's issue...

Mitt is a bee-oytch complaining to the moderator. Reminds me of Jim Harbaugh politicing for calls.

 
Obama is leading the room tonight, Romney is reacting. He's starting to open up things a bit where I'd say he's leading halfway in.

Mitt looks like a pissy nerd in school complaining about the last word.

 
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