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I heard an Obama mouth piece on TV last night say "the US is cash strapped"
Well now, that is not actually the truth. Saying it that way makes it sound like were just not taking in enough money.
The truth is were taking in more money every year than ever before. By a long shot. The Truth is the BUSH tax cuts caused an increase in revenues to record highs.
It is not that were not taking in enough money, WERE FUCKING SPENDING TO MUCH!!!
You are correct. Tax receipts have gone down somewhat for the past two years because of the recession (which I assume the Obamabots are focusing on), but outlays have gone up significantly.
Worth a read.As correctly noted above, while spending is up, revenues are nowhere near being at record highs. See the CBO's budget outlook from the beginning of the year:
This "new" austerity by the right seems to crop up essentially when a Democrat is sitting in the oval office. Given the timing, it's also dangerous. Britain and several other countries are employing massive cuts in spending and it's effecting their economies in some very negative ways. Given the fact that most US companies..became super wealthy as a result of government spending (Like Raytheon, Halliburton, Kraft, General Dynamics, GM, Ford, and a host of others) and given that we are still in a "recovery", spending cuts would probably do vastly more harm then good. And of course the cuts the right are suggesting affect the most vunerable in the country more adversely then anyone else.
And it seems that the underfunding of agencies like the IRS basically left them not doing their jobs very well..in terms of collecting taxes. According to several articles I have read, there a billions in uncollected taxes swimming out in the ether. Add in that many other agencies that are suppose to be collecting fees for land usage by oil companies and farming industries are also behind. And left over Bush legislation, like the Medicare drug benefit, could probably stand to be overhauled.
Is the US government spending to much? You bet. But now really is not the time to cut spending. Now is the time to increase revenues, rebuild infrastructure and continue to support the recovery. Once the economy is humming again...then austerity would be in order.
I heard an Obama mouth piece on TV last night say "the US is cash strapped"
Well now, that is not actually the truth. Saying it that way makes it sound like were just not taking in enough money.
The truth is were taking in more money every year than ever before. By a long shot. The Truth is the BUSH tax cuts caused an increase in revenues to record highs.
It is not that were not taking in enough money, WERE FUCKING SPENDING TO MUCH!!!
You need to prove that the Bush tax cuts CAUSED increased revenues.
Yeah, the Bush tax cuts worked out great. Look at all the jobs all around. Where is unemployment now? 4...5%?
Listen you stupid jack ass. All I said was those cuts in taxes produced an increase in Revenue. That is an indisputable fact.
Actually going by Greenbeard's chart..they didn't produce an increase in revenue. They either went down..or stayed flat.
Listen you stupid jack ass. All I said was those cuts in taxes produced an increase in Revenue. That is an indisputable fact.
Actually going by Greenbeard's chart..they didn't produce an increase in revenue. They either went down..or stayed flat.
are we looking at the same chart? I can clearly see a spike in the section of 2002-3 to 2007....
the problem is he spent ahead of declining revenues...
further; that sky blue revenue line past 2011 is a pipe dream, they are using averages ahead of any average we ever took in, which is 18.0% if I recall correctly and as displayed by the long sky blue line for revenues in that very chart.
You get more money but the average of revenue by % doesn't move long term below or above 16.5 to 19%...
I heard an Obama mouth piece on TV last night say "the US is cash strapped"
Well now, that is not actually the truth. Saying it that way makes it sound like were just not taking in enough money.
The truth is were taking in more money every year than ever before. By a long shot. The Truth is the BUSH tax cuts caused an increase in revenues to record highs.
It is not that were not taking in enough money, WERE FUCKING SPENDING TO MUCH!!!
You need to prove that the Bush tax cuts CAUSED increased revenues.
Here you go, read:
Historical Federal Receipt and Outlay Summary
Due to the DotCom and 9/11 double whammy recession, tax receipts fell. The Bush tax cuts helped spur GDP growth, which resulted in recovery and growth of tax receipts.
That's the real solution: GDP GROWTH.
Somehow, this simple fact eludes you leftwing loons and the Obama Administration.
further; that sky blue revenue line past 2011 is a pipe dream, they are using averages ahead of any average we ever took in, which is 18.0% if I recall correctly and as displayed by the long sky blue line for revenues in that very chart.
You get more money but the average of revenue by % doesn't move long term below or above 16.5 to 19%...
No kidding. Receipts continue to be "UNEXPECTEDLY" worse than predicted, just like nearly every economic metric of Obamanomics.
You need to prove that the Bush tax cuts CAUSED increased revenues.
Here you go, read:
Historical Federal Receipt and Outlay Summary
Due to the DotCom and 9/11 double whammy recession, tax receipts fell. The Bush tax cuts helped spur GDP growth, which resulted in recovery and growth of tax receipts.
That's the real solution: GDP GROWTH.
Somehow, this simple fact eludes you leftwing loons and the Obama Administration.
That doesn't do anything to prove cause and effect.
Try again.
Yeah, the Bush tax cuts worked out great. Look at all the jobs all around. Where is unemployment now? 4...5%?
Federal tax revenues fell in 2001, 2002, 2003, 2008, 2009.
That's roughly Bush's record. Bush had 2 major tax cuts.
Tax revenues rose for 7 straight years after the 'infamous' Clinton tax increase of 1993. Can we fairly say that Clinton's tax hike INCREASED revenues, I mean,
if you're going attempt to credit tax cuts for increasing revenues...
Here you go, read:
Historical Federal Receipt and Outlay Summary
Due to the DotCom and 9/11 double whammy recession, tax receipts fell. The Bush tax cuts helped spur GDP growth, which resulted in recovery and growth of tax receipts.
That's the real solution: GDP GROWTH.
Somehow, this simple fact eludes you leftwing loons and the Obama Administration.
That doesn't do anything to prove cause and effect.
Try again.
It doesn't prove cause and effect only to an economic illiterate.
For those of use with actual knowledge, spurring GDP growth results in increased tax receipts.
Try reading something beside the Daily Kos.
The Historical Lessons of Lower Tax Rates | The Heritage Foundation
Federal tax revenues fell in 2001, 2002, 2003, 2008, 2009.
That's roughly Bush's record. Bush had 2 major tax cuts.
Tax revenues rose for 7 straight years after the 'infamous' Clinton tax increase of 1993. Can we fairly say that Clinton's tax hike INCREASED revenues, I mean,
if you're going attempt to credit tax cuts for increasing revenues...
Uh, there was a big decrease in the Cap Gains rate in 1997 (from 28% to 20%), along with tax credits and other modifications. Combining this with the dotcom/telecom/y2k bubble drove up federal tax receipts.
Tax Cuts, Not the Clinton Tax Hike, Produced the 1990s Boom | The Heritage Foundation
Yeah, the Bush tax cuts worked out great. Look at all the jobs all around. Where is unemployment now? 4...5%?
Sure, 9/11, the housing market collapse, the dot com burst and recession weren't factors, joblessness could only have been affected by the tax cuts so they didn't work.
Moron.
That doesn't do anything to prove cause and effect.
Try again.
It doesn't prove cause and effect only to an economic illiterate.
For those of use with actual knowledge, spurring GDP growth results in increased tax receipts.
Try reading something beside the Daily Kos.
The Historical Lessons of Lower Tax Rates | The Heritage Foundation
No, you have to SHOW cause and effect. And show us why Bush had a worse record of revenue increases than Clinton.
It doesn't prove cause and effect only to an economic illiterate.
For those of use with actual knowledge, spurring GDP growth results in increased tax receipts.
Try reading something beside the Daily Kos.
The Historical Lessons of Lower Tax Rates | The Heritage Foundation
No, you have to SHOW cause and effect. And show us why Bush had a worse record of revenue increases than Clinton.
Gawd you are dumb.
There is not ONE THING that drives the entire economy.
The DOT COM Crash, have you heard of it?
9/11, have you heard of it?
The Mortgage/Financial Meltdown, have you heard of it?
If you had the intellectual chops, you could benefit by reading this:
[ame=http://www.amazon.com/Economics-One-Lesson-Shortest-Understand/dp/0517548232/ref=sr_1_1?ie=UTF8&qid=1301158503&sr=8-1]Amazon.com: Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics (9780517548233): Henry Hazlitt: Books[/ame]
But I doubt you will.
