Bush tax cuts-quicker,cost less,increased employment more -funny how that works

[PeterS]

Bush's May 03 tax cuts worked quicker, cost less and reduced unemployment more than Papa's Obama Pork Spending has in 6 months; 7 months, 8 months; 9 months; 10 months; 11 months - funny how that works

BLS: Labor Force Statistics from the Current Population Survey


*1.4 million jobs were added in the nine months after August 2003 (the 2003 tax cuts were signed into law in late May 2003).

*The unemployment rate remained steady at 5.6 percent in May 2004, well below its peak of 6.3 percent a year ago.

*The Treasury Department estimates that without the tax relief, as many as 1.5 million more Americans would be out of work right now, and the unemployment rate would be well over 7 percent.

Obama said with the Stimulus Bill the unemployment rate would not go over 8%.
The unemployment rate is currently at 10%.
But, Papa Obama says it's working.

The Bush tax cuts were designed improve investment spending which would impact structural economy not growth due to consumer spending which is what you are showing. You also ignore that the historical mean job creation rate irrespective of tax policy is 2.7M per year meaning your job growth due to the tax cut left us short of what we could expect with no stimulus at all.

 

[Neotrotsky]

Bush's May 03 tax cuts worked quicker, cost less and reduced unemployment more than Papa's Obama Pork Spending has in 6 months; 7 months, 8 months; 9 months; 10 months; 11 months - funny how that works

BLS: Labor Force Statistics from the Current Population Survey


*1.4 million jobs were added in the nine months after August 2003 (the 2003 tax cuts were signed into law in late May 2003).

*The unemployment rate remained steady at 5.6 percent in May 2004, well below its peak of 6.3 percent a year ago.

*The Treasury Department estimates that without the tax relief, as many as 1.5 million more Americans would be out of work right now, and the unemployment rate would be well over 7 percent.

Obama said with the Stimulus Bill the unemployment rate would not go over 8%.
The unemployment rate is currently at 10%.
But, Papa Obama says it's working.

The Bush tax cuts were designed improve investment spending which would impact structural economy not growth due to consumer spending which is what you are showing. You also ignore that the historical mean job creation rate irrespective of tax policy is 2.7M per year meaning your job growth due to the tax cut left us short of what we could expect with no stimulus at all.

How is that Historical mean job creation rate doing this year?

 

[ihopehefails]

The worst part is he could have suspended all income tax collection for a year and got the same desired affect that the stim plan was trying to do and that was to get money flowing in our economy again. This could have been done without adding any new money into the system thus avoiding all the terrible affects of inflation.

 

[Wry Catcher]

Well if debt is a concern for you..........

Papa Obama tripled the national deficit in one year and nearly doubled the unemployment rate since in office.

It looks like Papa Obama is not getting too much "bang for our buck"

Source of graph?

LOL! Just look at bottom of graph.

Unlike you, I make errors. Unlike you, I excuse them in others when possible. Note however the final phrase in my signature line, it make be very much like you.

 

[rdean]

Bush's May 03 tax cuts worked quicker, cost less and reduced unemployment more than Papa's Obama Pork Spending has in 6 months; 7 months, 8 months; 9 months; 10 months; 11 months - funny how that works

BLS: Labor Force Statistics from the Current Population Survey


*1.4 million jobs were added in the nine months after August 2003 (the 2003 tax cuts were signed into law in late May 2003).

*The unemployment rate remained steady at 5.6 percent in May 2004, well below its peak of 6.3 percent a year ago.

*The Treasury Department estimates that without the tax relief, as many as 1.5 million more Americans would be out of work right now, and the unemployment rate would be well over 7 percent.

Obama said with the Stimulus Bill the unemployment rate would not go over 8%.
The unemployment rate is currently at 10%.
But, Papa Obama says it's working.

The Bush tax cuts were designed improve investment spending which would impact structural economy not growth due to consumer spending which is what you are showing. You also ignore that the historical mean job creation rate irrespective of tax policy is 2.7M per year meaning your job growth due to the tax cut left us short of what we could expect with no stimulus at all.

That is so much BS. The Bush tax cut was designed to give more money to the already wealthy and move the burden of cost to the Middle Class which the Confederate Republican hierarchy despises.
If tax cuts are so important, then why the incredible growth during the 50s and 60s when the tax rate for the very rich was 75 to 90%?

This "give money to the very rich and the economy will grow" is so much BS. Why do Republicans endless spout this nonsense? It doesn't make a lick of sense.

 

[Sinatra]

Hell yea.......

Start two wars and pay for them with tax cuts. $5 trillion debt doesn't mean anything?

Well if debt is a concern for you..........

Papa Obama tripled the national deficit in one year and nearly doubled the unemployment rate since in office.

It looks like Papa Obama is not getting too much "bang for our buck"

Source of graph?

Ah, presented with the reality of Obamanomics and you run from that too??

Utterly predictable.

And the hypocrisy to allege "concern" over what was the 5 trillion debt while steadfastly maintaining support of Obama Inc????


Tax cuts create jobs - period.

IF you combine them with a reduction in government, the debt would go down.

It's not rocket science.

Get the government the hell out of the way and let America get back to work.

 

[Annie]

Source of graph?

LOL! Just look at bottom of graph.

Unlike you, I make errors. Unlike you, I excuse them in others when possible. Note however the final phrase in my signature line, it make be very much like you.

Really LOL! You asked a question, I gave you the information. You make false inferences.

 

[oreo]

This thread is totally flacid and illogical.

----Here we have a liberal trying to be intellectual & using "big words"--but really saying nothing--- Like why he thinks this thread is totally "flacid" & illogical---

The point is---massive government spending has never created private sector job growth.

The only thing that is expanding in leaps & bounds right now is the government along with government employee salaries. This while the private sector continues to shrink.

We have a President who believes he can manipulate all sectors of the economy by throwing tax dollars at it--& giving a lot of speeches-- For instance--"green jobs". What exactly is that? It's someone who makes minimum wage that goes out to insulate older homes that the American taxpayer gets the bill on.

Not one single penny in the stimulus bill was dedicated for a nuclear power plant. Of course, we can't drill for oil & natural gas in our country with this administration so we end up putting foreigners to work to supply our energy-- These two things alone would put millions back to work--but hell no--it's got to be Obama's way. He's always been against nuclear power--the only time he is for it is when he is campaigning.

Tax cuts work to stimulate ALL sectors of the economy. This along with cutting government spending puts the deficit back in order & Americans back to work.

 

[Maple]

Hell yea.......

Start two wars and pay for them with tax cuts. $5 trillion debt doesn't mean anything?

Well then what would you say to a 14 trillion dollar debt after your guy is through.

 

[Maple]

This thread is totally flacid and illogical.

----Here we have a liberal trying to be intellectual & using "big words"--but really saying nothing--- Like why he thinks this thread is totally "flacid" & illogical---

The entire point is---massive government spending has never created private sector job growth.

The only thing that is expanding in leaps & bounds right now is the government along with government employee salaries. This while the private sector continues to shrink.

We have a President who believes he can manipulate all sectors of the economy by throwing tax dollars at it--& giving a lot of speeches-- For instance--"green jobs". What exactly is that? It's someone who makes minimum wage to insulate older homs that the American taxpayer gets the bill on.

Not one single penny in the stimulus bill was dedicated for a nuclear power plant. Of course, we can't drill for oil & natural gas in our country with this administration so we end up putting foreigners to work to supply our energy--

The private sector is shrinking. I don't know how he thinks he can support all those new government employees when the people who actually pay the taxes, the private sector, is out of work.

Can you imagine the amount of jobs that would be created with one nuclear power plant?? Can you imagine how many jobs would be created if we were allowed to actually drill for our own oil?? Can you imaging how many people would be employed working on a new gas refinery?? I can imagine, but Obama and his crew have yet to get it, instead we have $5.00 an hour temporary employees insulating older homes for the poor and he calls that real job growth.

 

[The Rabbi]

So post the source of the graph!

Sure, if you just used your mouse and right click you can find it

obama+deficit2.gif (image)

Gateway Pundit

So these numbers are wrong then?

No, the numbers are likely correct, the problem is the budget was the Bush budget. Obama did add to the deficit by fixing the major economic problems inherited from the Bush/GOP congress which held power (2001 - 2007) and spent like a drunken sailor without any effort to raise revenue.
So, the numbers maybe correct, but, as Mark Twain once wrote: "There are liars, damn liars and statistics".

I realize that history is something you conveniently ignore, but recall that the Dums controlled Congress from 2006 on. They proposed and passed budgets. They are responsible for the huge budget deficits. They are responsible for the economic mess.
Now they are doubling and tripling down on that bet, "rolling the dice" in the immoral phrase of Barney Frank.

"Tax cuts" do not grow the economy. Tax cuts that change behavior towards more savings and investment do grow the economy. Bush's idiotic "rebate" didn't work, even though it was basically a tax cut (and recall the Dums insisted that the same rebate go to people who don't pay taxes). But the ones targeted towards business did work, something RDEan can never admit. Of course RDean still believes in the "multiplier effect". He also believes in Santa Claus and the tooth fairy.