What happened to the $5 trillion loss and Why didn't Bush prevent it??

Discussion in 'Politics' started by healthmyths, Oct 28, 2011.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    Most of you are evidently unaware of
    "Net operating Losses" NOL allowances.

    What affect do you think NOL had on U.S. tax revenue considering this:

    1) The Stock Market Crash of 2000-2002 caused the loss of $5 trillion in the market value of companies from March 2000 to October 2002.[13]
    The 9/11 terrorist destruction of the World Trade Center's Twin Towers, killing almost 700 employees of Cantor-Fitzgerald, accelerated the stock market drop; the NYSE suspended trading for four sessions.
    Dot-com bubble - Wikipedia, the free encyclopedia

    If using the IRS rule that $3,000 for 30 years can be written off against income thus reducing Federal tax revenue by at least $166 billion a year starting with 2002 and on.

    Then considering the worst hurricane seasons (plural) in history that had
    And 4 of the TOP MOST EXPENSIVE ($240 Billion ) hurricanes???
    #1 Hurricane Katrina August 2005 Louisiana
    The most destructive hurricane in US History caused an estimated
    $100 - $200 billion in damage.
    #3 Hurricane Charley August 13 - 14, 2004 Florida causing
    $15 billion in damage
    #4 Hurricane Ivan September 16 - 24, 2004 Southeastern
    United States $14.2 billion in damage in its wake.
    #8 Hurricane Frances September 5, 2004 Florida caused
    $8.9 billion in damage.
    http://www.epicdisasters.com/index.php/site/comments/the_ten_costliest_us_hurricanes/

    Add those losses to the $166 billion how much tax revenue was lost from 2002 up through today?

    If the above events which evidently people have forgotten HAD not occurred there would
    have been a $101.2 billion surplus in 2008!
    Actual expenditures dot.com/911 worst hurricane seasons in history.

    2001 2002 2003 2004 2005 2006 2007 2008
    $3,220 $3,422 $3,624 $3,827 $4,109 $4,319 $4,636 $5,020
    So the actual deficit
    ($101.9) (165.2) 42.5 382.7 446.6 176.1 (679.6) ​
    $101.2 billion in surplus IF those events had not occurred.

    BUT THEY DID HAPPEN!

    Could the dot.com been avoided?
    Could 9/11 been prevented?
    Could hurricanes been avoided?
    ALL events that ONLY a God like Obama could have prevented..right?

    Or should we continue to "BLAMEBUSH"???
     
    Last edited: Oct 28, 2011
  2. pete
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    pete The food stamp president

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    If obama was in office at this point in time we would be in a lot worse shape than we are now and it would still be someone elses fault!!
     
  3. healthmyths
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    healthmyths Gold Member Supporting Member

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    No question.
    I am NOT an Obama supporter as he has made the situation worse!
    But I wonder why NOT one article and I've done google search on this total of $5 trillion in losses as to why NO one discusses the lost tax revenue that averages over $200 billion a year NOT collected!
     

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