8537
VIP Member
Tax revenues under Reagan fell from 19.6% to 18.4%. Not sure how that equals a 6% drop.
Real GDP growth averaged 3.1% during the same period. Playing fast and loose with the numbers makes the author look pretty stupid.
Speaking of lies.
The following are NOT LIES but FACTS..
Because of the dot.com bust, 9/11 and worst hurricane SEASONS in history all events that had NEVER occurred in one Presidency the United States tax revenue was reduced by $166 billion a year in 2002,
I'm sure that's all that did it. You already cop to the fact that you're talking points instead of facts here.
increased to $232 billion in 2003 and through 2008 due to hurricane losses total in 2008 and out for next 25 years.. $266 billion!
Do you and others understand? These are REAL tax dollars that would have been collected from 2002 up to 2010 this would be over $1.6 trillion in REVENUE!
No, you are quoting nominal tax dollars, not real tax dollars. I wouldn't expect you to know the difference.
Dot com losses in 2000 $5 trillion
Not only is that not a fact, it's fantasy.
9/11 cost businesses lost revenue, airlines,etc. $2 trillion.
Worst hurricane SEASONS in history cost $1 trillion in what the IRS calls Net Operating Losses!
More madeup numbers.
Please explain how a dot.com bubble that burst in 2000 waited to create these phantom losses until months after the recession ended.MY whole point is NOWHERE has this $266 billion a year in lost revenue been accounted.
All we do is call Bush a drunken sailor in spending... running up huge deficits..
YET no one seems to comprehend that NO ONE could have foreseen these events!
Yet we are blaming Bush who BECAUSE there was a recession that officially started 3/2001 put the tax cuts into play ... in 2006!
But NO one in this country foresaw $266 billion in lost tax revenue starting with the dot.com bust in 2002 tax payments!