Top 5 falsehoods about the Bush tax cuts

JBeukema

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After lots of talk and debate about extending the Bush tax cuts, it's now crunch time:

The lower rates are scheduled to expire on Dec. 31 unless Congress acts to extend them.

President Barack Obama supports making the current tax rates permanent for most Americans, but he wants to let the lower rates expire for couples that make more than $250,000 or individuals who make more than $200,000. Many Republicans say the tax cuts should be made permanent for everyone. Lately, though, different compromise measures have been floated. One idea is to make the tax cuts permanent for the middle-class and extend them temporarily for higher incomes. Another option would be to pass a two-year extension for everyone. Still other options call for repealing the tax cuts for the wealthy and giving tax breaks to employers who create jobs. We'll have to wait and see what sort of bill Congress actually votes on.

In the meantime, we have fact-checked many claims on the tax cuts and we've noticed some falsehoods keep getting repeated. So here are our top 5 falsehoods, plus a few runners-up.

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5 falsehoods:

1>"Should Democrats get their way,every income tax bracket will increase on Jan. 1, 2011. Every single one."

2>"Ninety-four percent of small businesses will face higher taxes under the Democrats' plan."

3>Small businesses that have "$250,000 in gross sales for the business ... They're the ones that are looking at massive tax increases."

4>• "Democrats are poised now to cause this largest tax increase in U.S. history."

5>"If all of the tax cuts expire on schedule, the budget will be close to being balanced in four years."

These were all demonstrated as lies in the link.
 
Fact check your ass. Obama can't decide where to make the cut off for "middle class" and it may go up to $1,000,000 per year.

The only place it can "go" is back to where it "was" before Bush signed the tax break legislation.

IOW back to tax rate terrain that actually grew the economy and created 23 million new jobs in 8 years.
 
Fact check your ass. Obama can't decide where to make the cut off for "middle class" and it may go up to $1,000,000 per year.

The only place it can "go" is back to where it "was" before Bush signed the tax break legislation.

IOW back to tax rate terrain that actually grew the economy and created 23 million new jobs in 8 years.

How about back to the government spending terrain that actually grew the economy and created 23 million new jobs?
 
Fact check your ass. Obama can't decide where to make the cut off for "middle class" and it may go up to $1,000,000 per year.

The only place it can "go" is back to where it "was" before Bush signed the tax break legislation.

IOW back to tax rate terrain that actually grew the economy and created 23 million new jobs in 8 years.

How about back to the government spending terrain that actually grew the economy and created 23 million new jobs?

sure, that too. But why not both?

Or should we go into the "way back machine" and adopt the spending and taxation rate regimens of say Truman, Eisenhower or Kennedy?

You want real job growth/wealth creation independent from bubbles and chicanery?

Hell Even Carter era employment, tax rates, and GDP growth far surpass those of this century under either useless president.

Why try to copy the Bush admin, which was one of the most fiscally irresponsible in our history?
 
The only place it can "go" is back to where it "was" before Bush signed the tax break legislation.

IOW back to tax rate terrain that actually grew the economy and created 23 million new jobs in 8 years.

How about back to the government spending terrain that actually grew the economy and created 23 million new jobs?

sure, that too. But why not both?

Or should we go into the "way back machine" and adopt the spending and taxation rate regimens of say Truman, Eisenhower or Kennedy?

You want real job growth/wealth creation independent from bubbles and chicanery?

Hell Even Carter era employment, tax rates, and GDP growth far surpass those of this century under either useless president.

Why try to copy the Bush admin, which was one of the most fiscally irresponsible in our history?

You're the horse's ass who tried to tie a historical tax rate to a historical jobs growth rate, and nothing else going on at the time.

And don't forget Clinton's dot com bubble, while we're on the subject, which was a nice "welcome to the White House" present for Bush 43.
 
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You are the jackass who tried to pretend that Obama was raising taxes with an open ended formula.
 
Please explain how Obama has the power to change the tax brackets established in the Bush tax cuts with some real data and links.

Thanks.
 
How about back to the government spending terrain that actually grew the economy and created 23 million new jobs?

sure, that too. But why not both?

Or should we go into the "way back machine" and adopt the spending and taxation rate regimens of say Truman, Eisenhower or Kennedy?

You want real job growth/wealth creation independent from bubbles and chicanery?

Hell Even Carter era employment, tax rates, and GDP growth far surpass those of this century under either useless president.

Why try to copy the Bush admin, which was one of the most fiscally irresponsible in our history?

You're the horse's ass who tried to tie a historical tax rate to a historical jobs growth rate, and nothing else going on at the time.

And don't forget Clinton's dot com bubble, while we're on the subject, which was a nice "welcome to the White House" present for Bush 43.

.com < 2 wars
 
If you want a society and a government and the freedoms and responsibilities that these entail why are taxes such a toxic topic? You can pay or you can love your third world nation. Seems easy. PS Even Reagan raised taxes like crazy.


"There is no historical evidence that tax cuts spur economic growth. The highest period of growth in U.S. history (1933-1973) also saw its highest tax rates on the rich: 70 to 91 percent. During this period, the general tax rate climbed as well, but it reached a plateau in 1969, and growth slowed down five years later. Almost all rich nations have higher general taxes than the U.S., and they are growing faster as well."

Tax cuts spur economic growth
The Idolatry of Ideology-Why Tax Cuts Hurt the Economy by Russ Beaton


Newsflash: Ronald Reagan Raised Taxes (You Idiots) | Firedoglake

.

"I’m fully aware that I risk excommunication from the Church of Economic Science when I argue exactly the opposite: Tax cuts actually hurt the economy. It isn’t just that they don’t help, or that they’re ineffective—THEY REALLY HURT!"
 
It's open ended. It uses a 24% increase in government spending, since he became President, as a baseline.

No tax increases will ever catch up to that.

Wrong. The stimulus is a one time event, to put a prop under the economy after the repubs blew up housing, mortgage industry, and banking industries.

Nowhere is it stated that any 24% increase in spending is the new baseline, you just made that up.
 
It's obvious the Republican/tea party strategy is simply to lie. Their efforts to return to power are fueled by lies and personal attacks against Nancy Pelosi, Harry Reid and President Obama as well as anyone who publicly expresses an opinion, idea or thought which questions their dogma.

There defenders on this MB dismiss any reference to the mistakes of GWB as old and no longer relevent, yet will at the drop of a hat blame Clinton and even Carter for the troubles of today. They regularly accuse others of hypocrisy and mendacity out of hand, while they engage in tactics which would shame a career criminal. Keep this in mind when 'debating' Rabbi or Revere (in fact any member of the echo chamber) for honesty, integrity and an open mind are absent leaving nothing for them to post but lies, half-truths, personal attacks and cliches suggesting the unproven axioms of the new right are immutable.
 
5 falsehoods:

1>"Should Democrats get their way,every income tax bracket will increase on Jan. 1, 2011. Every single one."

2>"Ninety-four percent of small businesses will face higher taxes under the Democrats' plan."

3>Small businesses that have "$250,000 in gross sales for the business ... They're the ones that are looking at massive tax increases."

4>• "Democrats are poised now to cause this largest tax increase in U.S. history."

5>"If all of the tax cuts expire on schedule, the budget will be close to being balanced in four years."
You should probably reexamine the content.

The way fact check went to painful measures to make dems look good was so obvious it was laughable.

Well to examine the largest increase we adjusted for inflation, called my mom for an opinion and made SEVERAL OTHER ADJUSTMENTS SO DEMOCRATS CAN NOT LOOK BAD.


COMEDY AT ITS FINEST.
 
Republicans fucked the economy up and feel what they did to ruin it is the answer to fixing it. These guys are nuts. But they sure do a good job of selling "lemons" to the American public. You gotta hand it to them. They put the "shyster" in "Shyster".
 

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