Speaking of the Bush tax cuts, I also thought you would find this graph interesting, Boner:

http://imgur.com/V1Rvr

thanks marx, I actually already knew about these figures. but of course I am sure skrum, and most americans are woefully ignorant of them


To be honest, if Obama is getting so much flack from the uneducated masses for being "socialist" he should just become socialist.

I have looked at the doc. It is a four-page summary of Mark Zandi's testimony. I haven't been able to get the whole transcript because it is behind a paywall. The doc has a table of multipliers for various kinds of tax cuts and spending increases. Nothing about income effects on these multipliers. Not even anything about falling APC's. One significant point Zandi makes is that infrastructure spending has a big multiplier but it takes too long to get the money spent while food stamps is spent quickly.

I suspect that Moody spent a lot of money to get these numbers so it is no suprise that they are not going to hand out their work product like candy. They seem to be tight-lipped about how they got these numbers.

A multiplier below 1 suggests tax cuts are past the peak of the pseudo-science laffer curve. Which means that the economy is actually suffering from these policies which in it of itself indicates a low percentage of this additional income is being injected into the economy-- as opposed to infrastructure and foodstamps which have high multipliers since they are spent 100% domestically.

BO:

Do you read these articles that you give the cite for? It made no mention of laffer curves, and if laffer curves are pseudo-scientific, why say that multipliers less than one are beyond the peak?

The table clearly states that the multipliers are one-year effects of the stimuli. Permanent income multipliers are smaller than short-run multipliers. Accelerated depreciation has a small multiplier because it is part of a long-term writeoff. Infrastructure has a large multiplier but it is measured from the time a check is cut, not from the time the infrastructure project is authorized. And there is no relationship between multipliers, MPC, or APC, and laffer curves. Multipliers are a demand-side phenomenon.

ugly golfball, its called an example

the first one is a generalised statement, while the second one is a case example of the statement

Skrum, I was analyzing the data using the conservative interpretation. The source I cited presents facts and I analyzed it through the ideology that pervades these tax breaks.

From your earlier post:

"I'd like to note that if any of this information was fabricated not only would this economist be risking his credibility for the future, but also jail time. Since lying would be perjury."

It's a good thing that it was Manzi and not you that was there giving the testimony, otherwise you would be headed for jail time.