The BIG LIE that Clinton-era tax rates boosted the economy

[Valox]

We need growth and the requires spending.

Liberals don't seem to understand that when government spends, they spend somebody ELSE'S money, and they're not exactly known for their efficiency. Do you really feel you can't do anything on your own? Most people rely on their own talents, can't you?

Go fuck yourself. You call for more spending while waging useless wars, while I call for more spending on jobs and infrastructure.

Republicans love war, but hate investing into America.

 

[Lumpy 1]

We need growth and the requires spending.

Liberals don't seem to understand that when government spends, they spend somebody ELSE'S money, and they're not exactly known for their efficiency. Do you really feel you can't do anything on your own? Most people rely on their own talents, can't you?

Go fuck yourself. You call for more spending while waging useless wars, while I call for more spending on jobs and infrastructure.

Republicans love war, but hate investing into America.

Democrats have started plenty of wars, quit been myopic..

 

[S.J.]

We need growth and the requires spending.

Liberals don't seem to understand that when government spends, they spend somebody ELSE'S money, and they're not exactly known for their efficiency. Do you really feel you can't do anything on your own? Most people rely on their own talents, can't you?

Go fuck yourself. You call for more spending while waging useless wars, while I call for more spending on jobs and infrastructure.

Republicans love war, but hate investing into America.

When liberals can't defend their position they resort to comments like "Go fuck yourself". You should try growing up.

 

[ABikerSailor]

Quick question..............................

You've got the ability to earn 250,000/yr, with the option to earn more if you choose.

At 250,000, you keep the tax cuts Obama promised for all those that earned that amount or less.

However...........................

You have the opportunity to earn 250,000 more, it's only that instead of paying at 25 percent, you now have to pay at 39 percent.

Are you going to lose all that profit because a little bit more goes to the government?

If you're in the business of making money, I'd think not.

 

[Lakhota]

I doubt most NaziCons understand what a "marginal" tax rate is...

 

[Lumpy 1]

Quick question..............................

You've got the ability to earn 250,000/yr, with the option to earn more if you choose.

At 250,000, you keep the tax cuts Obama promised for all those that earned that amount or less.

However...........................

You have the opportunity to earn 250,000 more, it's only that instead of paying at 25 percent, you now have to pay at 39 percent.

Are you going to lose all that profit because a little bit more goes to the government?

If you're in the business of making money, I'd think not.

Government gets plenty of money and they waste a good percentage of it, why give them more to waste when it could be put to better use by the private sector?

I'd bet You could spend money more wisely than the Government, don't You?

 

[Lakhota]

CHART: Lower Taxes On The Rich Don't Lead To Job Growth | ThinkProgress

Rich People’s Taxes Have Little to Do with Job Creation

Top 1 Percent of Americans Reaped Two-Thirds of Income Gains in Last Economic Expansion; Center on Budget and Policy Priorities

 

[Lakhota]

Don't talk about bestiality. You'll get GHook93 all excited...

 

[Staidhup]

Liberals don't seem to understand that when government spends, they spend somebody ELSE'S money, and they're not exactly known for their efficiency. Do you really feel you can't do anything on your own? Most people rely on their own talents, can't you?

Go fuck yourself. You call for more spending while waging useless wars, while I call for more spending on jobs and infrastructure.

Republicans love war, but hate investing into America.

When liberals can't defend their position they resort to comments like "Go fuck yourself". You should try growing up.

If you had a record like the democrats you wouldn't have anything else to say. But then again the republicans, when given a chance, have a habit of unraveling everything they work so hard to create. Go ahead kick the can down the road, raise taxes without cutting spending, follow your green dream, at some point you will have to accept ownership for your failed foreign, domestic, and economic policy blunders. The travail of liberalism has a cost and we are all paying for it today, some more than others.

 

[Polk]

No one is suggesting that tax increases will help the economy. What's being said is that the difference between a 35% top marginal rate and a 39.6% top marginal rate won't cause economic calamity. And guess what? That's absolutely true. Republicans were making the very same dire predictions in 1993. They weren't right then, and they're not right now.

No, it won't help (thanks for admitting), and in fact may have a negative effect over time. If you look back in history when marginal tax rates are raised, folks always adjust, and it all levels out eventually.

So... I guess all it amounts to is BO appeasing his angry class warfare base by "sticking it" to the productive folks? Sort of a Pyhrric victory, if you ask me, and very non-productive... like the Obama voter base.

I haven't "admitt[ed]" tax increases won't help the economy. I don't think they'll have a meaningful impact one way or the other.

 

[HUGGY]

Timmy "Doogie" Geithner, CPA, and Barry Obama, Organizer-in-Chief, keep telling us that tax rates should go up BECAUSE when they were at the higher level during Clinton's terms, the economy was booming...

Note to Doogie and Barry O: It was the tech boom and housing bubble growing that made the economy great, NOT the higher tax rates!

No one cared about the higher rates back then because folks were doing fine!

Are they REALLY that effing DUMB to think that raising taxes now will make the economy better???

Kill the ACA, keep tax rates where they are -- but cut the corp rate -- and DO NOT dare impose a carbon tax, and the economy would start back up immediately.

Unfortunately, a bunch of mindless, cooing Julias with Obamaphones re-elected Dear Leader and his plan to destroy America, so none of that will happen.

The BIG LIE that Clinton-era tax rates boosted the economy

Nobody thinks that you friggin halfwit.

 

[CrusaderFrank]

Timmy "Doogie" Geithner, CPA, and Barry Obama, Organizer-in-Chief, keep telling us that tax rates should go up BECAUSE when they were at the higher level during Clinton's terms, the economy was booming...

Note to Doogie and Barry O: It was the tech boom and housing bubble growing that made the economy great, NOT the higher tax rates!

No one cared about the higher rates back then because folks were doing fine!

Are they REALLY that effing DUMB to think that raising taxes now will make the economy better???

Kill the ACA, keep tax rates where they are -- but cut the corp rate -- and DO NOT dare impose a carbon tax, and the economy would start back up immediately.

Unfortunately, a bunch of mindless, cooing Julias with Obamaphones re-elected Dear Leader and his plan to destroy America, so none of that will happen.

You are an idiot's idiot. No one is selling higher taxes on those making $250,000 or more at this point to "create jobs" you moron. It's about paying down the deficit. Remember the deficit? I fully expect you to answer any question that floats in that "bubble" you call a brain with BENGHAZI!!!!

I thought the deficit stimulated the economy?

Can you pick one story and stick with it?

 

[Polk]

It does, but foregone tax revenue are less stimulative than direct spending (hence the short-term spending proposals as part of the President's fiscal cliff opening offer).

 

[tap4154]

Timmy "Doogie" Geithner, CPA, and Barry Obama, Organizer-in-Chief, keep telling us that tax rates should go up BECAUSE when they were at the higher level during Clinton's terms, the economy was booming...

Note to Doogie and Barry O: It was the tech boom and housing bubble growing that made the economy great, NOT the higher tax rates!

No one cared about the higher rates back then because folks were doing fine!

Are they REALLY that effing DUMB to think that raising taxes now will make the economy better???

Kill the ACA, keep tax rates where they are -- but cut the corp rate -- and DO NOT dare impose a carbon tax, and the economy would start back up immediately.

Unfortunately, a bunch of mindless, cooing Julias with Obamaphones re-elected Dear Leader and his plan to destroy America, so none of that will happen.

The BIG LIE that Clinton-era tax rates boosted the economy

Nobody thinks that you friggin halfwit.

GEITHNER: We're not going to extend an extension of the tax rates for the top 2 percent. We think they should go back and need to go back to Clinton levels.

And let me explain why we believe that.

WALLACE: So, I just -- to answer my question, specifically, you are saying nonnegotiable, 39.6 percent?

GEITHNER: Again, we think that's the way to do it. Let me explain why, OK? If you don't do that, it costs a trillion dollars -- roughly a trillion dollars over 10 years.

WALLACE: Not if you went to 37 percent.

GEITHNER: Again, you're -- you're --

WALLACE: Well, that's one of the ideas that's out there, sir. I'm not just making this up.

GEITHNER: That's true. There's lots of ideas out there.

And, again, what we're -- we are proposing to let those rates go back to Clinton levels. Remember, that was a -- that was a time of remarkably good economic growth, in this country -- very strong private investment, strong job growth, strong broad-based growth in incomes. It was a good time for the American economy. It makes a lot of sense.

But in addition to that, we proposed to limit deductions for the top 2 percent of Americans as well. Now, we are willing to work with Republicans on tax reform to create a more simple, more fair system, but only as part of an agreement that has those rates go back up at the end of the year.

WALLACE: So, the Clinton rate?

GEITHNER: We think that's the way to do it.

WALLACE: Thirty-nine-point-six percent?

GEITHNER: And, again, the reason why is because --

WALLACE: I understand the reason why.

Treasury Secretary Timothy Geithner and House Speaker John Boehner talk 'fiscal cliff' negotiations - Interviews - Fox News Sunday with Chris Wallace - Fox News

Obama has said the same thing numerous times... crediting the Clinton era tax rates with growing the economy, which is INSANE. IF we were in a time of good economic growth, then yes, perhaps we could raise marginal rates a bit BUT WE ARE NOT in a good time of economic growth. Remember: Doogie Geithner, CPA, is the guy who used Turbo Tax and effed up his taxes. Not exactly an economic genius...



BTW, if I'm a half-wit, you are wit-impaired...

 

[ABikerSailor]

Quick question..............................

You've got the ability to earn 250,000/yr, with the option to earn more if you choose.

At 250,000, you keep the tax cuts Obama promised for all those that earned that amount or less.

However...........................

You have the opportunity to earn 250,000 more, it's only that instead of paying at 25 percent, you now have to pay at 39 percent.

Are you going to lose all that profit because a little bit more goes to the government?

If you're in the business of making money, I'd think not.

Government gets plenty of money and they waste a good percentage of it, why give them more to waste when it could be put to better use by the private sector?

I'd bet You could spend money more wisely than the Government, don't You?

So................you think that the money could be used better by the private sector? Really? Because we've tried tax cuts for the wealthy for the past 12 years now, and see how far it's gotten us?

Return the 2 percent to the Clinton era tax rates.

 

[boedicca]

The Libs throw this crap out there like they actually believe the higher the taxes the better the economy.

And the WH press corp (CBS,NBC,ABC,CNN,MSNBC,Washington Post NY Times) and all the rest push it as well.

And sadly the Democrat voter fell for it.

What caused the Clinton economy's success was lower spending and cuts in capital gains taxes.

At the end of Clinton's second term, federal spending as a % of GDP was close to 18%. Let's cut spending to those levels and leave the tax rates alone.

 

[NYcarbineer]

Timmy "Doogie" Geithner, CPA, and Barry Obama, Organizer-in-Chief, keep telling us that tax rates should go up BECAUSE when they were at the higher level during Clinton's terms, the economy was booming...

Note to Doogie and Barry O: It was the tech boom and housing bubble growing that made the economy great, NOT the higher tax rates!

No one cared about the higher rates back then because folks were doing fine!

Are they REALLY that effing DUMB to think that raising taxes now will make the economy better???

Kill the ACA, keep tax rates where they are -- but cut the corp rate -- and DO NOT dare impose a carbon tax, and the economy would start back up immediately.

Unfortunately, a bunch of mindless, cooing Julias with Obamaphones re-elected Dear Leader and his plan to destroy America, so none of that will happen.

The current argument against higher tax rates is that they will kill economic growth, investment, business expansion, and job creation.

The Clinton rates did not kill economic growth, investment, business expansion, and job creation.

The same argument was made before the Clinton tax plan was put in place. The argument was wrong.

 

[NYcarbineer]

[What caused the Clinton economy's success was lower spending and cuts in capital gains taxes.

.

So you want to go back up to the capital gains tax rates during the Clinton presidency?

 

[NYcarbineer]

Tax revenues as a percent of GDP peaked in 2000, and have fallen ever since.

Spending as a percent of GDP bottomed in 2000, and has increased ever since.

So contrary to popular rightwing propaganda, higher taxes did not lead to more spending.