Reply #9: Depends which bunch of conservatives you speak to. [View All]

[mwooldri]

If the Repukes come into office, I hope they learn some lessons from the Conservative/Liberal-Democrat coalition government in the UK.

Overall, taxes have gone up, public spending is going down. There will be some tax cuts for those at the lower end of the income spectrum. There will be a comprehensive defence spending review. In the short term, growth is being curtailed. However debt is going to go down. This is what is happening right now under a "Conservative" government across the pond.

The cutting taxes part is supposed to mean that those more wealthy who would benefit greatly from those tax cuts and open up their wallets and generate wealth down the line, and also to give an incentive for the wealthy to stick around and feed the money into this country's economy rather than some other country. However over the Bush II years we have seen that this is not necessarily the case - with the wealthy hoarding most of their earnings and not opening up their wallets for the greater good of society (a few notable exceptions of course...) and spending the money abroad.

Higher taxes forces the rich to have open wallets. There will be some wealthy people who will take a dislike to the higher taxes and move to another country (with much lower taxes of course) but the great majority of the wealthy will stick around, grumble about the higher taxes and get on with life.