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

[CrusaderFrank]

Genocide happens in Africa every day, are you supporting their system? because i dont hear you campaigning for changes there.

you have a stupid argument.

It's because of the stupid US tax policy that lets people keep more than they need. We could solve all these problems if we take the trillion US business are hoarding and if people only kept the money the really needed

this sounds like youre more in favor of social or communism than democracy, where the government has control of everything.....

can you clarify?

Communism? No! How is spouting US Progressive talking points being Communist?

 

[code1211]

Bush tax cuts 10th anniversary: They've been a failure in every conceivable way. - By Annie Lowrey - Slate Magazine

In 2001, the Bush administration inherited a few years' worth of budget surpluses, so it decided to cut income tax rates, double the child-care credit, and sharply reduce the levies on investment income. The economy then slowed, even entering a brief recession. As a form of stimulus, the administration doubled down, expanding and hastening the 2001 changes. Bush promised that the tax cuts would do a whole lot more than put money in people's pockets—which, in fact, they did. He said they would "starve the beast," forcing Congress to reduce the size and scope of government. He promised they would increase the prosperity of all Americans. He also vowed: "Tax relief will create new jobs. Tax relief will generate new wealth. And tax relief will open new opportunities."

But the benefits mostly accrued to the rich, according to the nonpartisan Tax Policy Center. The think tank reports that between 2001 and 2008, the bottom 80 percent of filers received about 35 percent of the cuts. The top 20 percent received about 65 percent—and the top 1 percent alone claimed 38 percent

Then there's wealth. Put simply, the aughts were a decade of income stagnation: The tax cuts failed to bolster most taxpayers' earnings, even before the recession hit. Median real wages actually dropped from 2003 to 2007. Household income from business-cycle peak to business-cycle peak declined for the first time since tracking started in 1967. As documented by my colleague Timothy Noah in his series "The United States of Inequality," this did not hold true for the nation's billionaires and millionaires. Garden-variety high-wage earners saw their income go up. And incomes for the top 1 percent skyrocketed. For some people, obviously, the cuts "generated new wealth," in the president's phrase. But overall, inequality got worse.

The "Bush Tax Cuts" got sundowned. The Current Tax rates are the "Obama Tax Cuts".

 

[CrusaderFrank]

Well hell.

Lets raise taxes in this economy and see what happens.

I'm game.

Are you??

OK. Cutting them didn't work. Rich people aren't "creating jobs". The middle class doesn't have money now. What we need is some good old government involvement with some investment in "infrastructure". Let's rebuild some of those 70,000 bridges that are falling apart before more fall down. Let's bring our electrical grid up to standard. Let's educate our children.

Screw Republicans. First, they ruin the economy, then they work tirelessly to keep the country down.

Shovel ready

Green Shoots

Summer of Recovery, Part II

 

[rightwinger]

Bush tax cuts 10th anniversary: They've been a failure in every conceivable way. - By Annie Lowrey - Slate Magazine

In 2001, the Bush administration inherited a few years' worth of budget surpluses, so it decided to cut income tax rates, double the child-care credit, and sharply reduce the levies on investment income. The economy then slowed, even entering a brief recession. As a form of stimulus, the administration doubled down, expanding and hastening the 2001 changes. Bush promised that the tax cuts would do a whole lot more than put money in people's pockets—which, in fact, they did. He said they would "starve the beast," forcing Congress to reduce the size and scope of government. He promised they would increase the prosperity of all Americans. He also vowed: "Tax relief will create new jobs. Tax relief will generate new wealth. And tax relief will open new opportunities."

But the benefits mostly accrued to the rich, according to the nonpartisan Tax Policy Center. The think tank reports that between 2001 and 2008, the bottom 80 percent of filers received about 35 percent of the cuts. The top 20 percent received about 65 percent—and the top 1 percent alone claimed 38 percent

Then there's wealth. Put simply, the aughts were a decade of income stagnation: The tax cuts failed to bolster most taxpayers' earnings, even before the recession hit. Median real wages actually dropped from 2003 to 2007. Household income from business-cycle peak to business-cycle peak declined for the first time since tracking started in 1967. As documented by my colleague Timothy Noah in his series "The United States of Inequality," this did not hold true for the nation's billionaires and millionaires. Garden-variety high-wage earners saw their income go up. And incomes for the top 1 percent skyrocketed. For some people, obviously, the cuts "generated new wealth," in the president's phrase. But overall, inequality got worse.

The "Bush Tax Cuts" got sundowned. The Current Tax rates are the "Obama Tax Cuts".

Agree

Let's end this failed experiment and put the country back on firm financial footing

 

[Seawytch]

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.

Only if you are blinded by hatred of President Obama as you obviously are. Do you really not recall how the GnOP was willing to shoot the hostages (unemployed) over the Bush tax cuts? It wasn't that long ago...

 

[Seawytch]

Well hell.

Lets raise taxes in this economy and see what happens.

I'm game.

Are you??

They are raising taxes. there are hundreds of tax increases in the "health care law."

Incorrect.

I'd ask for proof of these "hundreds of tax increases" but we both know you won't produce anything supporting this.

I'm afraid I can't show you tax increases, but I can show you where insurance companies are lowering their premiums because of the Affordable Care Act...will that do?

Say what? A health insurer is lowering premiums? Yes, thanks to an ACA rule that some lawmakers now want to gut

Lower premiums announced for high-risk health insurance pool
Prices drop 25 percent for new federally funded pool

 

[Seawytch]

Bush tax cuts 10th anniversary: They've been a failure in every conceivable way. - By Annie Lowrey - Slate Magazine

In 2001, the Bush administration inherited a few years' worth of budget surpluses, so it decided to cut income tax rates, double the child-care credit, and sharply reduce the levies on investment income. The economy then slowed, even entering a brief recession. As a form of stimulus, the administration doubled down, expanding and hastening the 2001 changes. Bush promised that the tax cuts would do a whole lot more than put money in people's pockets—which, in fact, they did. He said they would "starve the beast," forcing Congress to reduce the size and scope of government. He promised they would increase the prosperity of all Americans. He also vowed: "Tax relief will create new jobs. Tax relief will generate new wealth. And tax relief will open new opportunities."

But the benefits mostly accrued to the rich, according to the nonpartisan Tax Policy Center. The think tank reports that between 2001 and 2008, the bottom 80 percent of filers received about 35 percent of the cuts. The top 20 percent received about 65 percent—and the top 1 percent alone claimed 38 percent

Then there's wealth. Put simply, the aughts were a decade of income stagnation: The tax cuts failed to bolster most taxpayers' earnings, even before the recession hit. Median real wages actually dropped from 2003 to 2007. Household income from business-cycle peak to business-cycle peak declined for the first time since tracking started in 1967. As documented by my colleague Timothy Noah in his series "The United States of Inequality," this did not hold true for the nation's billionaires and millionaires. Garden-variety high-wage earners saw their income go up. And incomes for the top 1 percent skyrocketed. For some people, obviously, the cuts "generated new wealth," in the president's phrase. But overall, inequality got worse.

It's so amazing how much these cuts have boosted our economy and created jobs.. Oh waiit.. They haven't.

I thought that was what the Obama $787 billion stimulus package was for?

It did. It created 3 million of them. How many jobs did the Bush tax cuts create?

 

[NYcarbineer]

5 trillion dollars was added to the national debt during the Bush presidency.

 

[Seawytch]

5 trillion dollars was added to the national debt during the Bush presidency.

That's what happens when you say "fuck the surplus"...

 

[CrusaderFrank]

5 trillion dollars was added to the national debt during the Bush presidency.

Sheeeeeeeeeeeeeeeeeeeeeet Obama can to that in 3 years

 

[rightwinger]

5 trillion dollars was added to the national debt during the Bush presidency.

Sheeeeeeeeeeeeeeeeeeeeeet Obama can to that in 3 years

Yes he sure did....

That $2.5 trillion blown on those tax cuts sure would make a difference wouldn't they?

So would the $2 trillion blown on wars

 

[JimH52]

How many jobs have the tax cuts created. particularly when Obama has created more jobs in 2 years than W created in 8? The GOP pressured Obama to extend their give away to the rich. He won't do it again.

 

[Trajan]

5 trillion dollars was added to the national debt during the Bush presidency.

Sheeeeeeeeeeeeeeeeeeeeeet Obama can to that in 3 years

Yes he sure did....

That $2.5 trillion blown on those tax cuts sure would make a difference wouldn't they?

So would the $2 trillion blown on wars

2.5 trillion, hey we went from 700 B to 2.5 TRILLION, yea baby, lets call it 70 trillion and we have covered all of our liabilities too!

 

[JimH52]

Well hell.

Lets raise taxes in this economy and see what happens.

I'm game.

Are you??

OK. Cutting them didn't work. Rich people aren't "creating jobs". The middle class doesn't have money now. What we need is some good old government involvement with some investment in "infrastructure". Let's rebuild some of those 70,000 bridges that are falling apart before more fall down. Let's bring our electrical grid up to standard. Let's educate our children.

Screw Republicans. First, they ruin the economy, then they work tirelessly to keep the country down.

They are praying that the economy doesn't pick up before November 2012. That would be their worst ightmare.

 

[CrusaderFrank]

5 trillion dollars was added to the national debt during the Bush presidency.

Sheeeeeeeeeeeeeeeeeeeeeet Obama can to that in 3 years

Yes he sure did....

That $2.5 trillion blown on those tax cuts sure would make a difference wouldn't they?

So would the $2 trillion blown on wars

Obama is Cheneny's sock puppet carrying out orders of the PNAC.

 

[Mr. Shaman]

Well hell.

Lets raise taxes in this economy and see what happens.

I'm game.

Are you??

You mean....something that actually....

....WORK$??!!!

How do you suppose we'll break this to the Teabaggers....you know....seeing-as-how betting on Losers is a fact-o'-Life, for them??

​

 

[rightwinger]

Sheeeeeeeeeeeeeeeeeeeeeet Obama can to that in 3 years

Yes he sure did....

That $2.5 trillion blown on those tax cuts sure would make a difference wouldn't they?

So would the $2 trillion blown on wars

2.5 trillion, hey we went from 700 B to 2.5 TRILLION, yea baby, lets call it 70 trillion and we have covered all of our liabilities too!

The costs of the tax cuts initiated by Bush are well established. They contributed $2 trillion to the $5 trillion debt run up by Bush. They have contributed .5 trillion to Obamas $2.5 trillion debt

Obama was an idiot to extend them

 

[NYcarbineer]

5 trillion dollars was added to the national debt during the Bush presidency.

Sheeeeeeeeeeeeeeeeeeeeeet Obama can to that in 3 years

80% of Obama's deficits have been caused by leaving Bush tax and spend policies in place.

 

[CrusaderFrank]

5 trillion dollars was added to the national debt during the Bush presidency.

Sheeeeeeeeeeeeeeeeeeeeeet Obama can to that in 3 years

80% of Obama's deficits have been caused by leaving Bush tax and spend policies in place.

Wahhhhh Wahhh WAHHHHH!! Cheney is using his Jedi Mind Trick to make Obama keep the tax cuts in place!

 

[Mr. Shaman]

Ok lets do it.

It worked in the past and tax cuts have never worked as claimed by the right.


The republicans wont let it happen because they think Obama would get the credit for the good results.

They think its far more important to help the republican party than the country.

....Much like what the Teabaggers are supporting; giving a "pass" to the 1%ers/high-roller$.

The Teabaggers have moved from....

"The Government CAN'T Creat Jobs!"
(during BUSHCO's run)

.....to "Where ARE The Jobs, Government?!!"

Who knew we had so many bi-polar people running-free?