What most people don’t understand is that wealth can be an amorphous thing. Many of the wealthiest people make most of thier money from investments and the like, and therefore record little income.
If growth policies (i.e. deficit spending) were better than austerity as a way for a country to dig itself out of debt, Greece, Spain, Italy and Portugal would be the strongest nations on Earth!
John Lott’s only using the last 5 years is absolutely obscurant. If you look historically, austerity has never worked. In all the times the IMF and the “Washington Concensus” forced austerity on other countries, they went further into recession. @Buster, if austerity worked, Mexico, Korea, Japan, Argentina, and Russia would look much better than they do now.
Austerity (back when it was the Washington Concensus) did little to help other countries, but it did make US exports to those countries rise… maybe that’s just a coincidence.
What most people don’t understand is that wealth can be an amorphous thing. Many of the wealthiest people make most of thier money from investments and the like, and therefore record little income.
If nations can wither the political storm that austerity puts them through, it very well may be the best and only option.
How might that 1.8 million vaccinations compare to Canada and the U.K., among other countries.
If growth policies (i.e. deficit spending) were better than austerity as a way for a country to dig itself out of debt, Greece, Spain, Italy and Portugal would be the strongest nations on Earth!
When we go to the FairTax, IRS statistics like the “top 400 earners” will be irrelevant and of little usefulness.
John Lott’s only using the last 5 years is absolutely obscurant. If you look historically, austerity has never worked. In all the times the IMF and the “Washington Concensus” forced austerity on other countries, they went further into recession. @Buster, if austerity worked, Mexico, Korea, Japan, Argentina, and Russia would look much better than they do now.
Austerity (back when it was the Washington Concensus) did little to help other countries, but it did make US exports to those countries rise… maybe that’s just a coincidence.
There have only been 7 periods in America’s history where the government ran a budget deficit and every single one of them was followed by a crisis.