Will Democrats' Proposed Policies Sink the Economy?

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In summary, the conversation discusses various economic policies proposed by Democrats, including eliminating the tax deduction for 401(k)s, a 25% cut in defense spending, universal healthcare, and a second stimulus package. One participant expresses concern that these policies will cause the economy to "tank," while another disputes this claim and argues that the current economic crisis is a result of Republican policies. The conversation also touches on the success of the New Deal and the impact of past presidential economic programs.
  • #1
WheelsRCool
Democrats Propose Eliminating Tax Deduction for 401(k)s: http://www.workforce.com/section/00/article/25/83/58.php

Democrats Propose 25% Cut in Defense Spending: http://www.southcoasttoday.com/apps/pbcs.dll/article?AID=/20081024/NEWS/810240332/-1/NEWS10

Throw in universal healthcare, a second stimulus package, higher taxes, and if John Kerry has his way another version of the "New Deal," and this economy is going to tank like a lead brick.
 
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  • #2
WheelsRCool said:
Throw in universal healthcare, a second stimulus package, higher taxes, and if John Kerry has his way another version of the "New Deal," and this economy is going to tank like a lead brick.

Just in case you hadn't noticed, the Republican policies have already destroyed not only our economy, but also the world economy. By saying "going to tank", you demonstrate that you have no knowledge of the mess that we're already in. One expert - Taleb - even stated that this may be the worst crisis since, not just the great depression, but since the Revolutionary war.
https://www.physicsforums.com/showthread.php?t=266155
 
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  • #3
I missed that thread - that's hilarious, Ivan, thanks.

Yes, btw, I'm sleeping fine.
 
  • #4
russ_watters said:
I missed that thread - that's hilarious, Ivan, thanks.

Yes, btw, I'm sleeping fine.

I'm glad to know that engineers get such rigorous training in not only economics, but also humility.

What is it that you do for a living again?
 
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  • #5
Ivan Seeking said:
Just in case you hadn't noticed, the Republican policies have already destroyed not only our economy, but also the world economy. By saying "going to tank", you demonstrate that you have no knowledge of the mess that we're already in. One expert - Taleb - even stated that this may be the worst crisis since, not just the great depression, but since the Revolutionary war.
https://www.physicsforums.com/showthread.php?t=266155

That's just silly. Can we please cut out the hyperbole?
 
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  • #6
A majority of historians, political scientists, and even economists say the new deal was a complete success, why shouldn't another one be implemented?

You look at the numbers and Hoover was sitting there twidling his thumbs or passing legislation that further exacerbated the problem. Calvin Coolidge's market fundamentalism and economic programs are also cited as some of the causes of the depression and he's generally rated as one of the worst Presidents in history. Roosevelt was able to turn around a sliding economy and reverse unemployment - if you count state jobs he also brought down unemployment by a tremendous amount.

What Libertarians do is they either make up numbers, or they attribute turn arounds and failures to factors that had almost no significance. This is known as "historical revisionism" and why people with Laissez-Faire ideology are so few and far between in the actual social sciences. Even a majority of economists describe themselves as "progressive."
 
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1. Will the Democrats' proposed policies have a negative impact on the economy?

There is no definitive answer to this question as it depends on various factors such as the specific policies being proposed and the current state of the economy. However, many economists argue that certain policies, such as increasing taxes on the wealthy and implementing stricter regulations on businesses, could potentially slow down economic growth.

2. Are there any potential benefits to the Democrats' proposed policies for the economy?

Again, this depends on the specific policies being proposed. Some economists argue that policies aimed at increasing government spending, such as infrastructure projects, could stimulate economic growth. Additionally, policies that aim to address income inequality and provide support for low-income individuals could potentially improve overall economic stability.

3. How will the Democrats' proposed policies affect businesses and job growth?

The impact of these policies on businesses and job growth is a highly debated topic. Some argue that policies such as increasing the minimum wage and providing more support for workers could benefit businesses by increasing consumer spending. However, others argue that policies that raise taxes or impose stricter regulations could hurt businesses and lead to job losses.

4. Will the Democrats' proposed policies lead to inflation?

Inflation is a concern for many when it comes to government spending and economic policies. Some economists argue that policies such as increasing the minimum wage and providing more support for low-income individuals could potentially lead to inflation as businesses may have to raise prices to compensate for higher labor costs. However, others argue that these policies could also stimulate economic growth and lead to overall price stability.

5. How do the proposed policies compare to previous economic policies implemented by Democrats?

It is important to note that the proposed policies are not yet set in stone and may be subject to change. However, some policies, such as increasing taxes on the wealthy and providing support for low-income individuals, have been proposed by previous Democratic administrations. The impact of these policies on the economy has varied and is a topic of debate among economists.

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