Why extend the Bush tax cuts?

[The T]

Why extend the Bush tax cuts?

Because the money belongs to those who have earned it.

So does the debt. It's an inescapable fact that the American people through their elected representatives chose to take on the debt we now have.

Whom in their proper state of mind would tell someone to go ahead and spend us into obscurity?

Your lack of logic is astounding...but at the same time your arrogance is the same as those we elected.

 

[Old Rocks]

In the 1950s, we had a good economy. What were the tax rates then?

In fact, given that much of the deficit is from the cost of the wars in Iraq and Afghanistan, why don't we re-institute that tax structure until the wars are paid for. In fact, it should be a law that any time we go to war, declared or undeclared, that the tax structure of WW2 would automatically be instituted. I cannot think of a better way to prevent wars of choice such as Iraq.

 

[Old Rocks]

Because the money belongs to those who have earned it.

So does the debt. It's an inescapable fact that the American people through their elected representatives chose to take on the debt we now have.

Whom in their proper state of mind would tell someone to go ahead and spend us into obscurity?

Your lack of logic is astounding...but at the same time your arrogance is the same as those we elected.

Another dumb fuck. Bushie Baby and his minions spent us into an economic debacle. And people like you were right there cheering him on. Gave tens of billions to Haliburton and Cheney, a company that showed it's gratitude by moving overseas. What a peice of work you dingbat Conservatives are.

 

[midcan5]

Considering where the nation went after the Bush tax cuts, only Rip Van Winkle would think keeping them in place was a good thing.


"Today, just one year after leaving office, the former president has found himself in the bottom five at 39th rated especially poorly in handling the economy, communication, ability to compromise, foreign policy accomplishments and intelligence. Rounding out the bottom five are four presidents that have held that dubious distinction each time the survey has been conducted: Andrew Johnson, James Buchanan, Warren G. Harding, and Franklin Pierce."

238 presidential scholars: Bush worst president of modern era, fifth worst in US history | Raw Story

 

[The Rabbi]

Wrong...AGAIN!

The debt belongs to the gubmint, not to the productive American people who have no control over what those dickweed politicians do.

But you must consider liberal logic:

"We created a massive mess and debt, thus, we're gonna need you to give us even more of your $$ in order for us to fix it"

To THEM, thats a good idea.


But always remember. The dynamics of the relationship a liberal has to the rest of society. Liberals are basically like our teenage children with a credit card at the mall. They whine about everything, spend like it's not their money, cuz it's not, then bitch and moan about whats owed to them and why you are angry about having to pay the bill.

Explain to me how liberals are to blame for the massive debt. As I remember it, we had a surplus under Clinton, and Bush ran us into a deficit.

There was no "surplus." Any balancing of the budget happened when Newt Gingrich was speaker. The deficit exploded once Nancy Pelosi became Speaker. Then it doubled when Obama became president.
Congress sets the budget, not the president.
Does this make it clear to you? Or will you come back spewing more partisan hack bullshit that exonerates Democrats and skewers Republicans?

 

[asterism]

You are that dumb. A recession is contacting GDP, were expanding. Do I need to explain the fed to you?

Is a recession always contracting GDP?

The NBER hasn't signaled the end yet.

When did the recession end according to you, got any data?

 

[topspin]

speaker counts to you tools, because no fucking supply side president wasn't a drunken sailor spengin wise not even remotely close to balanced budget. LOL very hacktastic spin points though
fiscal conservative=let your grandkids pay the bill

 

[asterism]

Then why did the republicans design this thing to end when its going to?

Due to the stupid political realities of getting things passed in Washington, and that the Republicans are just about as clueless as the Democrats.

I love this crap, I swear. It is a proven fact that those cuts cost us a ton of money

It is most certainly not a proven fact, it's a speculation. There is no way to prove a hypothetical situation.

 

[asterism]

Because it is a GOP idea?

How about because increasing taxes during a recession is a really really stupid idea?

The chart shows that for every dollar spent giving the Bush tax cuts it only stimulates the economy 30 cents worth. Why not shift the tax cut dollars into something more effective, like the payroll tax?

The payroll tax is a contribution now for a benefit in the future. What's the logic in doing more to increase the lack of funding for the already unsustainable future?

Now if you are suggesting that we cut the payroll tax *and* decrease the benefit entitlement I'm with you and that would be a wise stimulus move.

 

[Mr. Shaman]

According to Moody's, extending the Bush tax cuts has far less of an effect than extending Unemployment Insurance benefits, increasing food stamps, or giving aid to state and local governments. So why push for extending these tax cuts?




Table 1: Fiscal Economic Bang for the Buck
One year $ change in real GDP for a given $ reduction in federal tax revenue or increase
in spending

Tax CutsNon-refundable lump-sum tax rebate 1.02
Refundable lump-sum tax rebate 1.26

Temporary tax cutspayroll tax holiday 1.29
Across the board tax cut 1.03
Accelerated depreciation 0.27
Permanent tax cuts
Extend alternative minimum tax patch 0.48
Make Bush income tax cuts permanent 0.29
Make dividend and capital gains tax cuts permanent 0.37
Cut in corporate tax rate 0.30

Spending IncreasesExtending UI benefits 1.64
Temporary increase in food stamps 1.73
General aid to state governments 1.36
Increased infrastructure spending 1.59
Source: Moody's Economy.com

http://www.economy.com/mark-zandi/documents/assissing-the-impact-of-the-fiscal-stimulus.pdf

Toooooooooooooooooooooooooooo easy!​

"The answer is that President Bush and a complicit Congress didn’t want to show the magnitude of the deficits that would result from their tax cuts. To hide those deficits as they were pushing them through they used a variety of accounting tricks. One of those tricks was attaching expiration dates so that, on paper, there wouldn’t be any long-term costs.

In fairness, Bush and his supply-side crowd believe with a zealot’s fervor that tax cuts spur such economic growth that future deficits never happen. Over history there are trillion$ of dollar$ of debt that prove them wrong. But there’s no persuading a true believer."

 

[The Rabbi]

speaker counts to you tools, because no fucking supply side president wasn't a drunken sailor spengin wise not even remotely close to balanced budget. LOL very hacktastic spin points though
fiscal conservative=let your grandkids pay the bill

That must have been some really good shit. Just sayin'

 

[Mr Natural]

I think we're all seeing the results of the Bush tax cuts.

Nice going, let's extend them, there's still a few bucks out there that the top 2% don't have.

 

[topspin]

speaker counts to you tools, because no fucking supply side president wasn't a drunken sailor spengin wise not even remotely close to balanced budget. LOL very hacktastic spin points though
fiscal conservative=let your grandkids pay the bill

That must have been some really good shit. Just sayin'

you like punking dems that don't know finance from a hole in the ground, you run scared when an MBA throws facts at you.

 

[Meister]

speaker counts to you tools, because no fucking supply side president wasn't a drunken sailor spengin wise not even remotely close to balanced budget. LOL very hacktastic spin points though
fiscal conservative=let your grandkids pay the bill

That must have been some really good shit. Just sayin'

you like punking dems that don't know finance from a hole in the ground, you run scared when an MBA throws facts at you.

Yes, An MBA bought on Ebay........it's the only MBA you could possibly have, Topspin.

Yes, Bush did spend, and he didn't know what the term "veto" meant, but Barry is picking up where Bush left off, and outdoing him.

 

[topspin]

That must have been some really good shit. Just sayin'

you like punking dems that don't know finance from a hole in the ground, you run scared when an MBA throws facts at you.

Yes, An MBA bought on Ebay........it's the only MBA you could possibly have, Topspin.

Yes, Bush did spend, and he didn't know what the term "veto" meant, but Barry is picking up where Bush left off, and outdoing him.

I didn't even have to spend ebay dollars, Texaco paid 100% plus books and parking

 

[The Rabbi]

I think we're all seeing the results of the Bush tax cuts.

Nice going, let's extend them, there's still a few bucks out there that the top 2% don't have.

Seven years of increasing GDP and low unemployment? Yeah, I want more of that.

 

[Meister]

you like punking dems that don't know finance from a hole in the ground, you run scared when an MBA throws facts at you.

Yes, An MBA bought on Ebay........it's the only MBA you could possibly have, Topspin.

Yes, Bush did spend, and he didn't know what the term "veto" meant, but Barry is picking up where Bush left off, and outdoing him.

I didn't even have to spend ebay dollars, Texaco paid 100% plus books and parking

Why don't you start acting like it then?
You think your the only one on this board with a degree? You ARE the only one that seems to have a need to brag about it.....a very insecure trait, I might add.

 

[skookerasbil]

Supply side is the sh!t...........go look at the Laffer Curve. It applies to all life in general.........the best example is how it applies to parents who dont understand points A-E with a newborn child. They are the ones that walk around like zombies all the time because they dont understand tax rates.

Supply Side economics only doesnt work when politicians dont have the balls to cut spending.

Read "The Way the World Works"........its so basic even an asshat like Old Rocks can understand.

 

[GHook93]

I say the top 5 percent can pay, and fuck the warmongerers who don't want to pay for their murderous ways.

Americans Tax Payers don't want to increase taxes to pay for lazy potheads like you to live on welfare and food stamps! But you can scream about the war all you want while you cash your welfare checks!

 

[GHook93]

[
I'm getting richer in the real recovery,:

I wasn't aware that welfare paid so much!