Selected in the top 100 Economics Sites

Selected in the top 100 Economics Sites

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Friday, November 9, 2012

Expect nothing and you will never be disappointed.

http://johnhcochrane.blogspot.com/2012/11/predictions.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TheGrumpyEconomist+%28The+Grumpy+Economist%29
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5 comments:

EconPirate said...

Boy, I'll bet you're in quite the pickle as your econ-demigods are in conflict of one another. Cochrane won't support any increase in marginal rates while Jimmy Hamilton concedes that tax increases are a necessary part of US fiscal solvency.

November 9, 2012 at 9:06 AM
Randall Parker said...

Read "Jimmy" carefully. He says increases in revenues and not rates.

And after Tuesday, could you wait a week or so before being such a smart ass?

November 9, 2012 at 10:17 AM
EconPirate said...

Jimmy says "tax increases" are needed. Not "tax revenue increases" specifically - most anyone would interpret "tax increases" as rate increases. Saying we need increases in revenues is as pointless to state as needing GDP growth, everyone knows that. Revenues have never been the issue, both sides agree to that. It's how to obtain the revenues that is the point of disagreement.

And what happened Tuesday?

November 9, 2012 at 10:41 AM
Randall Parker said...

Raising rates now is stupid economics and I don't care who agrees with that. Widening the base and lowering the rates is a wonderful idea that has little chance of happening. Obama will turn class warrior just like Rooosevelt did in his second term. Roosevelt raised rates in the depths of the Depression and the president will too. Raising the capital gains tax rate to an effective rate of 62% is stupid too but that is what the president wants to do for the sake of fairness. We are in big trouble.

And the need for GDP growth is not as universally known as you make it out to be because someone forgot to inform the president. He is not only indifferent to it, he is openly hostile to it.

Have a wonderful weekend.

November 9, 2012 at 10:53 AM
EconPirate said...

Again, the president does know GDP growth is needed. It's just that you and the President don't agree on the path towards said growth.

You are ridiculously close-minded and partisan if you think the President is "openly hostile" towards economic growth. Sad.

Good weekend to you too.

November 9, 2012 at 11:53 AM

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