Happy 10th Birthday.....Bush Tax Cuts

[RDD_1210]

Dems need to run on a 90% tax on all income in excess of $50,000 and an undistributed profits tax.

Why would they do that? That's dumb.

 

[Soggy in NOLA]

Dems need to run on a 90% tax on all income in excess of $50,000 and an undistributed profits tax.

That would be pretty stupid, which means they very well may.

 

[Truthmatters]

They cant refute the reality so they make shit up

 

[CrusaderFrank]

Dems need to run on a 90% tax on all income in excess of $50,000 and an undistributed profits tax.

Why would they do that? That's dumb.

Dumb? Why do you think people should be allowed to keep so much money for themselves?

 

[Skynet]

And, if both [arties are to blame, as you say,m then why the constant calls that it is the GOP that caused the mess? Fence sit much?

And please tell us your views on Frank and Dodd's role in all of this... as well as CRA, red-lining, etc.

so youre against Dodd Frank because it brought back regulations on the banks to prevent another collapse? and who was it that deregulated the financial markets? Bush and the GOP controlled congress.

Panel blames deregulation for financial crisis - Business - US business - msnbc.com

it also caps debit card transactions for businesses, regulates derivatives, sets new rules for credit card rates so they cant gouge us, or im sure you prefer a 29.9% interest rate on the credit card as well as if you miss 1 payment they can jack it up on you. im sure thats terrible as well. its called consumer protection. but in the free market, the banks would just charge whatever rate they want, wait oh thats right they have been doing that for years.

 

[Soggy in NOLA]

Personally, I don't think anyone needs any more than 10% - 15% of their money. A world in need creates a world in need is what I always say.

 

[rightwinger]

Bush supporters should be praising Obama, Bush haters should be attacking Obama.


Why is the opposite happening?

I attacked Obama when he sold out on the tax cuts. Lack of guts on his part and he blinked

 

[Soggy in NOLA]

And, if both [arties are to blame, as you say,m then why the constant calls that it is the GOP that caused the mess? Fence sit much?

And please tell us your views on Frank and Dodd's role in all of this... as well as CRA, red-lining, etc.

so youre against Dodd Frank because it brought back regulations on the banks to prevent another collapse? and who was it that deregulated the financial markets? Bush and the GOP controlled congress.

Panel blames deregulation for financial crisis - Business - US business - msnbc.com

it also caps debit card transactions for businesses, regulates derivatives, sets new rules for credit card rates so they cant gouge us, or im sure you prefer a 29.9% interest rate on the credit card as well as if you miss 1 payment they can jack it up on you. im sure thats terrible as well. its called consumer protection. but in the free market, the banks would just charge whatever rate they want, wait oh thats right they have been doing that for years.

I assume you are talking about the "1999 Financial Services Modernization Act" signed into law by William Jefferson Clinton?

What are your thoughts on the Dems screeching foul when Bush warned them on Freddie and Fannie in 2003?

What about the repeal of Glass-Steagall?

 

[Meister]

Bush supporters should be praising Obama, Bush haters should be attacking Obama.


Why is the opposite happening?

I attacked Obama when he sold out on the tax cuts. Lack of guts on his part and he blinked

Yeah, but you don't have the nads to call it the Bush/Obama tax cuts.

 

[rightwinger]

What the GOP didn’t learn from the Bush tax cuts - Ezra Klein - The Washington Post

Ten years ago today, George W. Bush signed the first of his two major tax-cut bills into law. “We recognize loud and clear the surplus is not the government’s money,” he said. “The surplus is the people’s money and we ought to trust them with their own money.”

Ten years later, there’s no more surplus. All we’ve got are deficits. And of all the policies we’ve passed in the last 10 years, Bush’s two rounds of tax cuts bear more responsibility for those deficits than any other legislative initiative. So what have we learned?

Nothing, I fear. This morning, Tim Pawlenty released an economic plan that was, if anything, more irresponsible than Bush’s tax cuts. At least Bush admitted that cutting taxes costs money. That’s why it made sense — or at least seemed to make sense — to use tax cuts to rebate a surplus. If cutting taxes raised government revenues, that statement would make no sense, as more tax cuts would simply lead to larger surpluses.

But that’s exactly what Pawlenty argued today. His tax cuts, he wrote, will boost annual economic growth from two percent to five percent and, in doing, “generate $3.8 trillion dollars in new tax revenues” and “reduce projected deficits by 40 percent.” In other words, you can have your cake, eat it too, and fit into those pants you haven’t worn since high schools. All you need are tax cuts.

Pawlenty also promised that “the real slog of the next administration will be an unrelenting trench battle against overregulation.” Bush wasn’t a big fan of regulations either. So we got a test of the low tax/low regulation approach in the Aughts. And how did it work out? “That business cycle was the first one in the postwar period where the income for a typical working-class family was lower at the end than at the beginning,” says Larry Mishel, president of the Economic Policy

 

[Soggy in NOLA]

What the GOP didn’t learn from the Bush tax cuts - Ezra Klein - The Washington Post

Your link starts with a video from that dude Maddow.... that pretty much says it all.

 

[Dr.Drock]

Blastoff beat me to it, these are now the Bush/Obama cuts.

Whether you agree with them or not, Bush and Obama are in agreement with the cuts.

Another issue you partisans should be holding hands about, rather than pretending to be different.

they are the Bush / GOP cuts. Obama has to concede and accept to temporarily extend those tax rates in order to get unemployment benefits extended. thats called compromise.

Obama "has" to, there you go, many of you democrats sound exactly like many of the republicans did from 2001-2007.

Even when your party had all the power, you STILL find a way to blame something government does that you don't like on the other party.

Continue with the partisan hackery, I apologize for letting reality get in the way.

Kudos to RDD and RW for at least condemning the action, rather than simply deflecting blame or making excuses.

 

[RDD_1210]

Dems need to run on a 90% tax on all income in excess of $50,000 and an undistributed profits tax.

Why would they do that? That's dumb.

Dumb? Why do you think people should be allowed to keep so much money for themselves?

Why do you feel the need to take things to the extreme? Is that the only way your argument will work?

 

[rightwinger]

Bush supporters should be praising Obama, Bush haters should be attacking Obama.


Why is the opposite happening?

I attacked Obama when he sold out on the tax cuts. Lack of guts on his part and he blinked

Yeah, but you don't have the nads to call it the Bush/Obama tax cuts.

I've added Obama's name to that extension ever since he signed it. Obama sold out in order to get DADT repealed, Unemployment extension and START

Even though he held his nose when he signed it...he still signed it

From here on, he is as responsibled as Bush

 

[CrusaderFrank]

White Folks greed runs a world in need

Your government needs that money, you got your free health care, what the fuck do you need more than $50K a year for, especially if you live in flyover country? That's downright wealthy in most of the world.

 

[Robert]

LOL I would like to know how you muppets figure you're going to raise Taxes when our Unemployment is above 9%. Even that dipshit occupying the WH right now understands its a non-starter.

 

[editec]

TRICKLE DOWN theory economics is nonsense when the problem is NOT on the supply side.

And of course when BUSH II's tax cuts for billionaires policies happened, the problems were NOT on the SUPPLY SIDE.

FWIW, they're STILL not on the SUPPLY side.

Private industry is sitting on something like 14 TRILLION dollars they could invest into supply side if there was a DEMAND side that made such investments woth their time.

What we need is a REAL Keynesian response.

Instead we got OBAMA's continuation of BUSH II's trickle down bullshit.

 

[Skynet]

And, if both [arties are to blame, as you say,m then why the constant calls that it is the GOP that caused the mess? Fence sit much?

And please tell us your views on Frank and Dodd's role in all of this... as well as CRA, red-lining, etc.

so youre against Dodd Frank because it brought back regulations on the banks to prevent another collapse? and who was it that deregulated the financial markets? Bush and the GOP controlled congress.

Panel blames deregulation for financial crisis - Business - US business - msnbc.com

it also caps debit card transactions for businesses, regulates derivatives, sets new rules for credit card rates so they cant gouge us, or im sure you prefer a 29.9% interest rate on the credit card as well as if you miss 1 payment they can jack it up on you. im sure thats terrible as well. its called consumer protection. but in the free market, the banks would just charge whatever rate they want, wait oh thats right they have been doing that for years.

I assume you are talking about the "1999 Financial Services Modernization Act" signed into law by William Jefferson Clinton?

What are your thoughts on the Dems screeching foul when Bush warned them on Freddie and Fannie in 2003?

What about the repeal of Glass-Steagall?

actually that would be the Commodity Futures Modernization Act

Phil Gramm stuck something called the Commodity Futures Modernization Act into the budget bill. The Act was designed to keep regulators from controlling new financial tools described as credit "swaps." These are instruments like sub-prime mortgages bundled up and sold as securities. Under the Gramm law, neither the SEC nor the Commodities Futures Trading Commission (CFTC) were able to examine financial institutions like hedge funds or investment banks to guarantee they had the assets necessary to cover losses they were guaranteeing.

 

[Dont Taz Me Bro]

Why would the corps hire when they can make money off of tax cuts?

Uhm, like I don't even know what this means.

That's ok. Neither does she.

 

[Dont Taz Me Bro]

TRICKLE DOWN theory economics is nonsense when the problem is NOT on the supply side.

And of course when BUSH II's tax cuts for billionaires policies happened, the problems were NOT on the SUPPLY SIDE.

FWIW, they're STILL not on the SUPPLY side.

Private industry is sitting on something like 14 TRILLION dollars they could invest into supply side if there was a DEMAND side that made such investments woth their time.

What we need is a REAL Keynesian response.

Instead we got OBAMA's continuation of BUSH II's trickle down bullshit.

Keynesian economics is nothing but a farce. It didn't work for FDR and it isn't working now.