Thaksin ordered by King to dissolve parliament :)

[Flashermac]

Hmmm ... the Brown Shirts???

 

THE NATION

26 Feb 2006

 

Commando police deployed to protect Thaksin

 

Some 40 commando policemen from the Metropolitan Police Bureau were deployed to keep law and order outside the residence of caretaker Prime Minister Thaksin Shinawatra on Soi Charansanitwongse 69 Sunday morning.

 

The team of policemen arrived at 8 am to watch over the prime minister.

 

Thaksin left his house at 9:45 am to chair a ceremony to hand over houses to poor people under the Ua-Arthor housing proect in Lat Krabang.

 

Thaksin inspected the housing project at 11:15 am. Many policemen were deployed to keep law and order in the area.

[JJsushi]

Neo said:

 

This just isn't the case. Lowering tax rates CAN increase tax revenue, just as they did during the Reagan years because it lets the economy grow quicker rather than suffocate it.

 

Sorry to bust your bubble but

Reagan-omics was a failure. Trickle down does not work. Maybe you didn't know this but as Reagan was cutting taxes on the Federal level, it forced the States to increase taxes in order to cover the shortfall of Federal money.

Now throw in the ballooning defense spending, slashing of social programs and increased national deficits;I hope u don't call the Reagan years an economic success. Reagan may have given America a larger prescence both militarily and in the arena of international politics but his economic programs only benefited the upper 5% of Americans.

 

George Bush senior had to raise taxes to get America back on track economically. Might have cost him the election but it made it easier for Bill Clinton and his policies. Unfortunately what Bush senior and Clinton did Bush junior(his administration) is undoing. Once again the States are raising taxes and the federal govt is borrowing to the hilt.

[..]

Aye. In 2005, the Congressional Budget Office released a paper called "Analyzing the Economic and Budgetary Effects of a 10 Percent Cut in Income Tax Rates" (link=pdf file) that casts doubt on the idea that tax cuts ultimately improve the government's fiscal situation. Unlike earlier research, the CBO paper examines the budgetary impact of any possible macroeconomic effects of tax policies, i.e., it attempts to account for how tax cuts affect the overall size of the economy, and therefore influence future government tax revenues; and ultimately, deficits or surpluses. The paper's author forecasts the effects using various assumptions (e.g., people's foresight, the mobility of capital and the ways in which the federal gummint might make up for the lost revenue).

 

Even in the paper's most generous scenario, only 28% of lost tax revenue is recouped over a 10-year period after a 10% tax-rate cut. The paper points out that these shortfalls in revenue would have to be made up by federal borrowing (gee, there's an idea ). The paper estimates that the federal government would pay an extra $200 billion in interest over the decade covered by his analysis. The 10% tax cut would result in a 1% increase in gross national product.

 

Hoiwever, the paper's focus is on Federal government revenue only and does not look at the total public sector revenue (i.e., state & locality taxes).

 

Cheers,

SD, feeling kinda Keynesian tonight