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View Diary: Rand Paul explains Republican economic philosophy in 30 seconds (229 comments)

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  •  Cutting top marginal tax rates... (4+ / 0-)
    Recommended by:
    Dunvegan, CajunBoyLgb, Misterpuff, usna77 a very bad idea and makes no sense, assuming that the spending that these rates pay for is necessary.

    If the spending isn't necessary, you should absolutely cut the rates since you're taxing people for no rational purpose.

    However, seeing as we are massively deficit spending it makes no sense to "spend" more on tax cuts since they're just going to be spent on consumption anyway.

    Now, that's from an Austrian economic perspective. If Rand Paul is arguing that giving money to the rich will stimulate the economy, I consider that to be complete hogwash, but more importantly, when did Rand Paul adopt Keynesian economics?

    (-5.50,-6.67): Left Libertarian
    Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

    by Sparhawk on Wed Nov 03, 2010 at 09:15:42 AM PDT

    •  He doesn't talk about it publicly, but (3+ / 0-)
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      Aquarius40, quotemstr, Egalitare

      I would guess that he wants to go back to the gold standard just like his father does.  lol

      Libertarians spend a lot of time chasing their tails.  There is nothing that makes sense in their economic philosophy.  The reason that none of it makes sense is because nothing about it is sustainable for more than like three minutes. The wealthiest people having every last dime on this earth and every last shred of power would last for like three minutes and then it would begin to unravel.

      These people read Plato up until the point where the ideal begins to fall apart.  They don't realize that what goes up must come down.

      If it weren't so dangerous for the rest of us, we could just let them go on and try to achieve all of their stated goals the way they want to go about it because eventually they'd wear themselves out trying to plug the holes that they'd created.  But that means we are a part of their failed experiment and I'm not interested in playing their dangerous game.

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