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

[Mr. Shaman]

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."

Where???​

I'm sure you can show everyone....

 

[Mr. Shaman]

Just what Americans need - less money in their pockets!

Go left, Go left, Go left.

Try to catch-up, there, Skippy......​

August 5, 1996​

"The vast majority of taxpayers saw no change in their income taxes as a result of the 1993 law. CBO estimates that most households paid only $38 more per year, as a result of the 4.3 cent per gallon increase in the gas tax."

Taxe$: The Highest in History?​

Try to get a little-more interested, in History, before you start the next, new school-year.....Skippy.​

 

[Mr. Shaman]

Everybody knows that if we raise the tax rates on 1% of the population everything will get better. Ask any liberal/progressive.

Yeah.....ain't....

...precedent...

.....a kick-in-the-ass??!!!

"Not only was the entire national deficit eliminated after raising taxes on the wealthy in 1993, but the economy grew so fast for the remainder of the decade that many conservative economists thought that the Fed should raise the prime interest rate in order to slow it down."

.

.

.

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[CrusaderFrank]

Why does Obama let anyone keep more that $50,000 a year?

 

[NYcarbineer]

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!

So you admit the tax cuts are bad policy.

See we can make progress with the ineducable if we simply persist.

 

[CrusaderFrank]

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.

Obama created jobs?

Really?

That must be why the stimulus kept unemployment under 8% like he promised, right?

 

[CrusaderFrank]

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!

So you admit the tax cuts are bad policy.

See we can make progress with the ineducable if we simply persist.

I admit Obama is the Most UnAmerican President ever.

 

[Mr. Shaman]

So, to recap: The Bush tax cuts were followed by low GDP growth, negative median wage growth, and little job growth. Even before the Great Recession, growth in the Bush business cycle was the weakest since World War II. And the cuts cost about $2.6 trillion between 2001 and 2010, according to the Economic Policy Institute—adding to a debt future generations of taxpayers will pay for, plus interest.

By Bush's own metrics, then, the tax cuts were a failure. But perhaps that is because Bush chose such absurd metrics and made such silly promises about tax cuts' economic omnipotence in the first place. To state the obvious, tax cuts are not magic. They can help a strong economy get stronger or help a weak economy pick up some steam. They also have a direct impact on the government budget. But they cannot goose employers into adding millions of jobs, pay for themselves, and arrest the growth of government, all while delivering everyone cupcakes. So perhaps the best we can say about the Bush tax cuts is that they did exactly what we should have expected them to do.

But the real jolt for tax-cutting opponents was that the 03 Bush tax cuts also generated a massive increase in federal tax receipts. From 2004 to 2007, federal tax revenues increased by $785 billion, the largest four-year increase in American history. According to the Treasury Department, individual and corporate income tax receipts were up 40 percent in the three years following the Bush tax cuts. And (bonus) the rich paid an even higher percentage of the total tax burden than they had at any time in at least the previous 40 years. This was news to theNew York Times, whose astonished editorial board could only describe the gains as a “surprise windfall.”

Unfortunately, Mr. Bush allowed Congress to spend away those additional tax revenues. The fact is that the increase in tax revenues that flowed from the ‘03 tax cuts could have paid for the wars in Afghanistan and Iraq and then some but for rampant discretionary domestic spending.

You Bush-fans certainly have maintained your ability to spin the bullshit....

Here's your discretionary domestic spending....​

February 12, 2006​

"When U.S. troops entered Baghdad in the spring of 2003, there was no electricity, widespread looting and little evidence of postwar planning. With the American military stretched to the limit, the Pentagon set up the Coalition Provisional Authority (CPA) to govern the country under Ambassador Paul Bremer, who began hiring private companies to secure and rebuild the country.

There were no banks or wire transfers to pay them, no bean counters to keep track of the money. Just vaults and footlockers stuffed with billions of dollars in cash.

"Fresh, new, crisp, unspent, just-printed $100 bills. It was the Wild West," recalls Frank Willis, who was the No. 2 man at the Coalition Provisional Authority's Ministry of Transportation.

The money was a mixture of Iraqi oil revenues, war booty and U.S. government funds earmarked for the coalition authority. Whenever cash was needed, someone went down to the vault with a wheelbarrow or gunny sacks.

"Those are $100,000 bricks of $100 bills and that's $2 million there," Willis explains, looking at a photo of brick-shaped stacks of money wrapped in plastic. "This, in fact, is a payment that we made on the 1st of August to a company called Custer Battles."

Willis says the bricks of money were also sometimes referred to as footballs, "… because we passed them around in little pickup games in our office," he says laughing.

Asked if he has any evidence that the accounting system was a little loose, Willis says, "I would describe it as nonexistent."

Billion$ Wasted In Iraq?​

[ame=http://www.youtube.com/watch?v=K6IhO7TcD9Q]YouTube - ‪Paul Rieckhoff on Defense Contractor Fraud, Waste in Iraq‬‏[/ame]
$
​

 

[Shadow]

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?

Or so says the paid Obama economists anyway...thanks for parroting the "spin" though..

Lets see... the manufacturing industry is now even losing jobs...and the unemployment rate is at 9.1%

Next up... Obama will create more "jobs" by going after and punishing the coal industry...

 

[Seawytch]

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?

Or so says the paid Obama economists anyway...thanks for parroting the "spin" though..

Lets see... the manufacturing industry is now even losing jobs...and the unemployment rate is at 9.1%

Next up... Obama will create more "jobs" by going after and punishing the coal industry...

Jobs are always a poor indicator of economic recovery as they are the last to recover. We have been gaining jobs, not losing them as we were in the waning of Bush's term. Even when the job numbers aren't what speculators are guessing at, jobs are STILL being added. Do you not recall that we were losing 700,000 jobs a month when Bush left office? Gaining jobs every single month is much better than that don't you think?

 

[Mr. Shaman]

Perhaps, instead of spending all day on USMB, you fuckers should go do something productive and then, maybe you wouldn't have to whine about new and inventive ways to get your hands on somebody else's money.

Just a thought.

Geeeeeeeeeeeee.....you appear to be getting-away from the subject-at-hand.

December 22, 2009​

"The curious may want to know why the Bush tax cuts are set to expire in the first place. After all, if then-President George W. Bush and Congress thought they were a good idea when they passed them in the early 2000s, why make them temporary?

The answer is that President Bush and a complicit Congress didn’t want to show the magnitude of the deficits that would result from their tax cuts. To hide those deficits as they were pushing them through they used a variety of accounting tricks. One of those tricks was attaching expiration dates so that, on paper, there wouldn’t be any long-term costs. This made the long-term deficit picture look fairly rosy on paper even as it doomed Bush’s successor and the current Congress to cleaning up the mess.

In fairness, Bush and his supply-side crowd believe with a zealot’s fervor that tax cuts spur such economic growth that future deficits never happen. Over history there are trillion$ of dollar$ of debt that prove them wrong."

Let the Bush Tax Cuts Expire​

 

[NYcarbineer]

Revenues peaked in 2007. Every budget since has had to deal with lower tax revenues.

 

[Trajan]

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.

di1ch2cuwdjmdopebanvclzorhgs na*$%nfcpe najk!!!!!

agree?

 

[Mr. Shaman]

cutting taxs has not produced what you claimed it would why should we try it again?

Spending increases have far outpaced growth.

Hey.....you Bush/Cheney-fans wanted to go-to-War.....with contractor$!!



Now.....you want to blame everyone-else for your fuck-up??

 

[Mr. Shaman]

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


Why is the opposite happening?

I kinda wondered the same....when Teabaggers all-of-a-sudden started defending corporate-America.

 

[Mr. Shaman]

The economy was already slowing before Clinton left office, nitwit.

That's what Porky Limbaugh says, huh????

"But Reagan's tax cuts for the nonrich were big money losers, and it took the fiscal discipline of Bill Clinton to mop up the resulting red ink. Laffer gushes with praise for Clinton, but he's also a fan of Clinton's successor. "What Clinton did was, he gave Bush the fiscal flexibility to do what was right," Laffer says. In the face of the recession and terrorist attacks of 2001, Bush "needed to stimulate the economy and spend for defense, and Clinton gave him the ability to do that."

Tax Cuts Don't Boost Revenues​

 

[Mr. Shaman]

Actually, most of us Bush supporters bashed Bush and the Neocons for their reckless spending. Where have you been?

Bullshit!!!
(....Ya' fuckin' liar.)

Show us where.​

 

[Mr. Shaman]

I couldn't believe the amount of money those tax cuts generated. Holy cow.

Then those fucking Clowns spent and spent and spent. Both parties.

Someone remind me why we keep electing these idiots??

'Cause there are brainless-lemmings, like you, repeating this fact-free bullshit.

 

[Shadow]

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

Or so says the paid Obama economists anyway...thanks for parroting the "spin" though..

Lets see... the manufacturing industry is now even losing jobs...and the unemployment rate is at 9.1%

Next up... Obama will create more "jobs" by going after and punishing the coal industry...

Jobs are always a poor indicator of economic recovery as they are the last to recover. We have been gaining jobs, not losing them as we were in the waning of Bush's term. Even when the job numbers aren't what speculators are guessing at, jobs are STILL being added. Do you not recall that we were losing 700,000 jobs a month when Bush left office? Gaining jobs every single month is much better than that don't you think?

As of June 2011 reports... Manufacturing,Contsruction and Financial Servies industries have all been reported as losing jobs...while the other private sector employers have slowed hiring or stopped all together. Even the economists are forced to call the numbers "grim".

College kids can't find employment to pay back student loans and many out of work have just stopped looking for jobs because they can't find any out there. Yep...we are doing peachy right now...not.

 

[Rozman]

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."

Just wait till Cap and Tax kicks in......