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| employment classified, mother in law sex story , mature blowjob movies , pavisnet, safety, market, federal government jobs, sexy moms having sex , mother son sex , moms a milf , suburban housewife , mastergraphics, grand parents, 1950's housewife , mother sex video , my moms fucking a nigga , housewife fucked , baby boomer job seekers, mother and son having sex , guys fucking moms , milf galleries , housewife com , | Even so, it is abundantly clear that this cannot be a mechanism by which the tax cuts might be claimed to be exerting a beneficial effect. Data source: BEA Table 5.1. We are then left then with the third argument, which is that the budget deficits may be serving to biotechnology stimulate aggregate demand. Such a claim would in my opinion be accurate. However, the question is whether stimulating consumption spending is a desirable policy goal at this point in the business cycle. I believe that our big concerns at the moment should be reducing the trade deficit biotechnology and increasing national saving, both of which goals are undermined by a big federal deficit. And it surely makes no sense for Congress to be doing its best to stimulate aggregate demand while the Federal Reserve is determined to reduce aggregate demand. |
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| Where we may differ is on the mechanism whereby this stimulus occurs. Source: Macroblog One possibility is that lower income taxes increase the rewards to working and may thereby lead to an increase in the number of people willing to work. However, the fraction of people who are either employed or looking for jobs housewife com has dropped significantly over the last several years. I am not among those who see this as necessarily a bad thing, for reasons I explained here. But it is housewife com certainly clear that such an effect has not been a mechanism whereby the recent tax cuts housewife com could have led to faster growth. A second possibility is that cutting tax rates on capital income may increase personal saving, and thereby help promote investment over the long run. The rather spectacular drop in the U.S. personal saving rate belies this interpretation as well-- people are spending their tax cuts, not saving them. Admittedly, this drop in saving should be viewed as a continuation of a long-run trend. |
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