Will Liberals Ever Stop Lying About the Bush Tax Cuts?

[mikegriffith1]

Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. We are also told that the Bush tax cuts mostly benefited the rich. Some liberals even still claim that somehow the Bush tax cuts contributed to the Great Recession (right, because letting people keep more of their money somehow, someway harms the economy!). Here are the facts:

* The Bush tax cuts were followed by huge increases in federal revenue. As anyone can confirm by looking at federal tax revenue data, here's what happened to federal revenue following the Bush tax cuts:

2003 -- $1.78 trillion
2004 -- $1.88 trillion
2005 -- $2.15 trillion
2006 -- $2.40 trillion
2007 -- $2.56 trillion

In other words, from 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history.

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. (See The Facts About Tax Cuts, Revenue, and Growth for more info.)

So why did the deficit explode? Because Congress went on a spending spree and raised spending at an even faster rate than revenue was rising. It's that simple. If Congress had merely limited spending hikes to match inflation, we would have been operating well in the black.

* The Bush tax cuts were followed by 52 consecutive months of economic growth. We have had nothing close to that since Bush left office.

* The Bush tax cuts benefited everyone, not just the rich. Some of the largest rate cuts went to the middle class/the poor. In fact, after the Bush tax cuts, the rich paid a larger share of federal tax revenue. (See Who Really Benefited From the Bush Tax Cuts? and Why America Is Going To Miss The Bush Tax Cuts and George W. Bush, Middle Class Champion for more info.)

 

[NYcarbineer]

Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. We are also told that the Bush tax cuts mostly benefited the rich. Some liberals even still claim that somehow the Bush tax cuts contributed to the Great Recession (right, because letting people keep more of their money somehow, someway harms the economy!). Here are the facts:

* The Bush tax cuts were followed by huge increases in federal revenue. As anyone can confirm by looking at federal tax revenue data, here's what happened to federal revenue following the Bush tax cuts:

2003 -- $1.78 trillion
2004 -- $1.88 trillion
2005 -- $2.15 trillion
2006 -- $2.40 trillion
2007 -- $2.56 trillion

In other words, from 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history.

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. (See The Facts About Tax Cuts, Revenue, and Growth for more info.)

So why did the deficit explode? Because Congress went on a spending spree and raised spending at an even faster rate than revenue was rising. It's that simple. If Congress had merely limited spending hikes to match inflation, we would have been operating well in the black.

* The Bush tax cuts were followed by 52 consecutive months of economic growth. We have had nothing close to that since Bush left office.

* The Bush tax cuts benefited everyone, not just the rich. Some of the largest rate cuts went to the middle class/the poor. In fact, after the Bush tax cuts, the rich paid a larger share of federal tax revenue. (See Who Really Benefited From the Bush Tax Cuts? and Why America Is Going To Miss The Bush Tax Cuts and George W. Bush, Middle Class Champion for more info.)

Bush had rising deficits from a balanced budget that not cutting taxes might have prevented.

Look at a chart that actually means something:

 

[CrusaderFrank]

Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. We are also told that the Bush tax cuts mostly benefited the rich. Some liberals even still claim that somehow the Bush tax cuts contributed to the Great Recession (right, because letting people keep more of their money somehow, someway harms the economy!). Here are the facts:

* The Bush tax cuts were followed by huge increases in federal revenue. As anyone can confirm by looking at federal tax revenue data, here's what happened to federal revenue following the Bush tax cuts:

2003 -- $1.78 trillion
2004 -- $1.88 trillion
2005 -- $2.15 trillion
2006 -- $2.40 trillion
2007 -- $2.56 trillion

In other words, from 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history.

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. (See The Facts About Tax Cuts, Revenue, and Growth for more info.)

So why did the deficit explode? Because Congress went on a spending spree and raised spending at an even faster rate than revenue was rising. It's that simple. If Congress had merely limited spending hikes to match inflation, we would have been operating well in the black.

* The Bush tax cuts were followed by 52 consecutive months of economic growth. We have had nothing close to that since Bush left office.

* The Bush tax cuts benefited everyone, not just the rich. Some of the largest rate cuts went to the middle class/the poor. In fact, after the Bush tax cuts, the rich paid a larger share of federal tax revenue. (See Who Really Benefited From the Bush Tax Cuts? and Why America Is Going To Miss The Bush Tax Cuts and George W. Bush, Middle Class Champion for more info.)

Even notice you can't even spell Liberal without l-i-e

 

[CrusaderFrank]

Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. We are also told that the Bush tax cuts mostly benefited the rich. Some liberals even still claim that somehow the Bush tax cuts contributed to the Great Recession (right, because letting people keep more of their money somehow, someway harms the economy!). Here are the facts:

* The Bush tax cuts were followed by huge increases in federal revenue. As anyone can confirm by looking at federal tax revenue data, here's what happened to federal revenue following the Bush tax cuts:

2003 -- $1.78 trillion
2004 -- $1.88 trillion
2005 -- $2.15 trillion
2006 -- $2.40 trillion
2007 -- $2.56 trillion

In other words, from 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history.

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. (See The Facts About Tax Cuts, Revenue, and Growth for more info.)

So why did the deficit explode? Because Congress went on a spending spree and raised spending at an even faster rate than revenue was rising. It's that simple. If Congress had merely limited spending hikes to match inflation, we would have been operating well in the black.

* The Bush tax cuts were followed by 52 consecutive months of economic growth. We have had nothing close to that since Bush left office.

* The Bush tax cuts benefited everyone, not just the rich. Some of the largest rate cuts went to the middle class/the poor. In fact, after the Bush tax cuts, the rich paid a larger share of federal tax revenue. (See Who Really Benefited From the Bush Tax Cuts? and Why America Is Going To Miss The Bush Tax Cuts and George W. Bush, Middle Class Champion for more info.)

Bush had rising deficits from a balanced budget that not cutting taxes might have prevented.

Look at a chart that actually means something:

So under Reagan, government spending as % of GDP plummeted and ended below government revenues. Reagan was actually on a glidepath to budget surpluses

 

[Pete7469]

Liberals will stop lying when they stop breathing.

We need more abortions and queer weddings.

 

[mikegriffith1]

Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. We are also told that the Bush tax cuts mostly benefited the rich. Some liberals even still claim that somehow the Bush tax cuts contributed to the Great Recession (right, because letting people keep more of their money somehow, someway harms the economy!). Here are the facts:

* The Bush tax cuts were followed by huge increases in federal revenue. As anyone can confirm by looking at federal tax revenue data, here's what happened to federal revenue following the Bush tax cuts:

2003 -- $1.78 trillion
2004 -- $1.88 trillion
2005 -- $2.15 trillion
2006 -- $2.40 trillion
2007 -- $2.56 trillion

In other words, from 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history.

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. (See The Facts About Tax Cuts, Revenue, and Growth for more info.)

So why did the deficit explode? Because Congress went on a spending spree and raised spending at an even faster rate than revenue was rising. It's that simple. If Congress had merely limited spending hikes to match inflation, we would have been operating well in the black.

* The Bush tax cuts were followed by 52 consecutive months of economic growth. We have had nothing close to that since Bush left office.

* The Bush tax cuts benefited everyone, not just the rich. Some of the largest rate cuts went to the middle class/the poor. In fact, after the Bush tax cuts, the rich paid a larger share of federal tax revenue. (See Who Really Benefited From the Bush Tax Cuts? and Why America Is Going To Miss The Bush Tax Cuts and George W. Bush, Middle Class Champion for more info.)

Bush had rising deficits from a balanced budget that not cutting taxes might have prevented.

Look at a chart that actually means something:

Are you just sooo brainwashed that you can't process basic math? I repeat: Federal revenue INCREASED after the Bush tax cuts. In fact, we had the largest four-year increase in federal revenue in American history following the Bush tax cuts.

Now, as to your chart that "really means something," i.e., comparing federal revenue as a percentage of GDP, that's a ridiculous comparison, one that both sides use when it suits them.

The percentage of a federal revenue as a percentage of GDP can fluctuate based on a number of factors, but that does not change the fact that federal revenue increased every year after the Bush tax cuts were passed.

So obviously the Bush tax cuts did not cause the deficit. Vastly increased spending caused the deficit. If you get a 4% raise but increase your spending by triple that amount, you're going to go into the red. It's that simple. This is math, just basic, unchangeable math.

 

[eagle7_31]

Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. We are also told that the Bush tax cuts mostly benefited the rich. Some liberals even still claim that somehow the Bush tax cuts contributed to the Great Recession (right, because letting people keep more of their money somehow, someway harms the economy!). Here are the facts:

* The Bush tax cuts were followed by huge increases in federal revenue. As anyone can confirm by looking at federal tax revenue data, here's what happened to federal revenue following the Bush tax cuts:

2003 -- $1.78 trillion
2004 -- $1.88 trillion
2005 -- $2.15 trillion
2006 -- $2.40 trillion
2007 -- $2.56 trillion

In other words, from 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history.

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. (See The Facts About Tax Cuts, Revenue, and Growth for more info.)

So why did the deficit explode? Because Congress went on a spending spree and raised spending at an even faster rate than revenue was rising. It's that simple. If Congress had merely limited spending hikes to match inflation, we would have been operating well in the black.

* The Bush tax cuts were followed by 52 consecutive months of economic growth. We have had nothing close to that since Bush left office.

* The Bush tax cuts benefited everyone, not just the rich. Some of the largest rate cuts went to the middle class/the poor. In fact, after the Bush tax cuts, the rich paid a larger share of federal tax revenue. (See Who Really Benefited From the Bush Tax Cuts? and Why America Is Going To Miss The Bush Tax Cuts and George W. Bush, Middle Class Champion for more info.)

Bush's problem is that signed budgets that blew up domestic spending and fought two wars on top of it (rightly or wrongly depending on your point of view).

 

[mikegriffith1]

omc modpack

Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. We are also told that the Bush tax cuts mostly benefited the rich. Some liberals even still claim that somehow the Bush tax cuts contributed to the Great Recession (right, because letting people keep more of their money somehow, someway harms the economy!). Here are the facts:

* The Bush tax cuts were followed by huge increases in federal revenue. As anyone can confirm by looking at federal tax revenue data, here's what happened to federal revenue following the Bush tax cuts:

2003 -- $1.78 trillion
2004 -- $1.88 trillion
2005 -- $2.15 trillion
2006 -- $2.40 trillion
2007 -- $2.56 trillion

In other words, from 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history.

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. (See The Facts About Tax Cuts, Revenue, and Growth for more info.)

So why did the deficit explode? Because Congress went on a spending spree and raised spending at an even faster rate than revenue was rising. It's that simple. If Congress had merely limited spending hikes to match inflation, we would have been operating well in the black.

* The Bush tax cuts were followed by 52 consecutive months of economic growth. We have had nothing close to that since Bush left office.

* The Bush tax cuts benefited everyone, not just the rich. Some of the largest rate cuts went to the middle class/the poor. In fact, after the Bush tax cuts, the rich paid a larger share of federal tax revenue. (See Who Really Benefited From the Bush Tax Cuts? and Why America Is Going To Miss The Bush Tax Cuts and George W. Bush, Middle Class Champion for more info.)

Bush had rising deficits from a balanced budget that not cutting taxes might have prevented.

Look at a chart that actually means something:

So under Reagan, government spending as % of GDP plummeted and ended below government revenues. Reagan was actually on a glidepath to budget surpluses

Bingo. That shows the absurdity of comparing revenue or spending to GDP. Like I said, both sides use this misleading comparison when it suits their purposes. I prefer real math and numbers that mean something.

Federal revenue rose substantially after the Bush tax cuts, but federal spending rose even more. Again, when you get a 4% raise but you increase your spending by 12%, you're gonna be in the red. You can argue a lot of things, but you can't argue with math.

 

[NYcarbineer]

omc modpack

Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. We are also told that the Bush tax cuts mostly benefited the rich. Some liberals even still claim that somehow the Bush tax cuts contributed to the Great Recession (right, because letting people keep more of their money somehow, someway harms the economy!). Here are the facts:

* The Bush tax cuts were followed by huge increases in federal revenue. As anyone can confirm by looking at federal tax revenue data, here's what happened to federal revenue following the Bush tax cuts:

2003 -- $1.78 trillion
2004 -- $1.88 trillion
2005 -- $2.15 trillion
2006 -- $2.40 trillion
2007 -- $2.56 trillion

In other words, from 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history.

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. (See The Facts About Tax Cuts, Revenue, and Growth for more info.)

So why did the deficit explode? Because Congress went on a spending spree and raised spending at an even faster rate than revenue was rising. It's that simple. If Congress had merely limited spending hikes to match inflation, we would have been operating well in the black.

* The Bush tax cuts were followed by 52 consecutive months of economic growth. We have had nothing close to that since Bush left office.

* The Bush tax cuts benefited everyone, not just the rich. Some of the largest rate cuts went to the middle class/the poor. In fact, after the Bush tax cuts, the rich paid a larger share of federal tax revenue. (See Who Really Benefited From the Bush Tax Cuts? and Why America Is Going To Miss The Bush Tax Cuts and George W. Bush, Middle Class Champion for more info.)

Bush had rising deficits from a balanced budget that not cutting taxes might have prevented.

Look at a chart that actually means something:

So under Reagan, government spending as % of GDP plummeted and ended below government revenues. Reagan was actually on a glidepath to budget surpluses

Bingo. That shows the absurdity of comparing revenue or spending to GDP. Like I said, both sides use this misleading comparison when it suits their purposes. I prefer real math and numbers that mean something.

Federal revenue rose substantially after the Bush tax cuts, but federal spending rose even more. Again, when you get a 4% raise but you increase your spending by 12%, you're gonna be in the red. You can argue a lot of things, but you can't argue with math.

Year over year revenues fell in 2002, 2003, 2008, and 2009.

 

[1treedancer]

Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. We are also told that the Bush tax cuts mostly benefited the rich. Some liberals even still claim that somehow the Bush tax cuts contributed to the Great Recession (right, because letting people keep more of their money somehow, someway harms the economy!). Here are the facts:

* The Bush tax cuts were followed by huge increases in federal revenue. As anyone can confirm by looking at federal tax revenue data, here's what happened to federal revenue following the Bush tax cuts:

2003 -- $1.78 trillion
2004 -- $1.88 trillion
2005 -- $2.15 trillion
2006 -- $2.40 trillion
2007 -- $2.56 trillion

In other words, from 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history.

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. (See The Facts About Tax Cuts, Revenue, and Growth for more info.)

So why did the deficit explode? Because Congress went on a spending spree and raised spending at an even faster rate than revenue was rising. It's that simple. If Congress had merely limited spending hikes to match inflation, we would have been operating well in the black.

* The Bush tax cuts were followed by 52 consecutive months of economic growth. We have had nothing close to that since Bush left office.

* The Bush tax cuts benefited everyone, not just the rich. Some of the largest rate cuts went to the middle class/the poor. In fact, after the Bush tax cuts, the rich paid a larger share of federal tax revenue. (See Who Really Benefited From the Bush Tax Cuts? and Why America Is Going To Miss The Bush Tax Cuts and George W. Bush, Middle Class Champion for more info.)

I believe that you must have inadvertently left out the qualifier OF "bushes TWO and a HALF UNFUNDED WARS" that coincided with his tax cuts when you posted this.

” Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. “

 

[imawhosure]

omc modpack

Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. We are also told that the Bush tax cuts mostly benefited the rich. Some liberals even still claim that somehow the Bush tax cuts contributed to the Great Recession (right, because letting people keep more of their money somehow, someway harms the economy!). Here are the facts:

* The Bush tax cuts were followed by huge increases in federal revenue. As anyone can confirm by looking at federal tax revenue data, here's what happened to federal revenue following the Bush tax cuts:

2003 -- $1.78 trillion
2004 -- $1.88 trillion
2005 -- $2.15 trillion
2006 -- $2.40 trillion
2007 -- $2.56 trillion

In other words, from 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history.

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. (See The Facts About Tax Cuts, Revenue, and Growth for more info.)

So why did the deficit explode? Because Congress went on a spending spree and raised spending at an even faster rate than revenue was rising. It's that simple. If Congress had merely limited spending hikes to match inflation, we would have been operating well in the black.

* The Bush tax cuts were followed by 52 consecutive months of economic growth. We have had nothing close to that since Bush left office.

* The Bush tax cuts benefited everyone, not just the rich. Some of the largest rate cuts went to the middle class/the poor. In fact, after the Bush tax cuts, the rich paid a larger share of federal tax revenue. (See Who Really Benefited From the Bush Tax Cuts? and Why America Is Going To Miss The Bush Tax Cuts and George W. Bush, Middle Class Champion for more info.)

Bush had rising deficits from a balanced budget that not cutting taxes might have prevented.

Look at a chart that actually means something:

So under Reagan, government spending as % of GDP plummeted and ended below government revenues. Reagan was actually on a glidepath to budget surpluses

Bingo. That shows the absurdity of comparing revenue or spending to GDP. Like I said, both sides use this misleading comparison when it suits their purposes. I prefer real math and numbers that mean something.

Federal revenue rose substantially after the Bush tax cuts, but federal spending rose even more. Again, when you get a 4% raise but you increase your spending by 12%, you're gonna be in the red. You can argue a lot of things, but you can't argue with math.

Mike, I agree with you 100%; but every liberal poster with over 10,000 posts are going to come here and hose you by obfuscating the issue, and using lefty sites that change the parameters.

Your facts do NOT fit the lefty narrative, and when you shut them down with your facts, they will go back to the tried and true, "but the rich got richer, so that means all those policies were awful."

We know the same thing happened under Reagan also, and yet we have a thread on here where every lefty called Reagan the worst President ever. They then make excuses of how he did it with smoke and mirrors.

Watch, they will either ignore the thread so it falls, or 20 lefties with 10,000 posts will bomb you on here to shut you up. It is their modus aperendi, lol. Good luck, but thanks for the facts!

 

[imawhosure]

omc modpack

Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. We are also told that the Bush tax cuts mostly benefited the rich. Some liberals even still claim that somehow the Bush tax cuts contributed to the Great Recession (right, because letting people keep more of their money somehow, someway harms the economy!). Here are the facts:

* The Bush tax cuts were followed by huge increases in federal revenue. As anyone can confirm by looking at federal tax revenue data, here's what happened to federal revenue following the Bush tax cuts:

2003 -- $1.78 trillion
2004 -- $1.88 trillion
2005 -- $2.15 trillion
2006 -- $2.40 trillion
2007 -- $2.56 trillion

In other words, from 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history.

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. (See The Facts About Tax Cuts, Revenue, and Growth for more info.)

So why did the deficit explode? Because Congress went on a spending spree and raised spending at an even faster rate than revenue was rising. It's that simple. If Congress had merely limited spending hikes to match inflation, we would have been operating well in the black.

* The Bush tax cuts were followed by 52 consecutive months of economic growth. We have had nothing close to that since Bush left office.

* The Bush tax cuts benefited everyone, not just the rich. Some of the largest rate cuts went to the middle class/the poor. In fact, after the Bush tax cuts, the rich paid a larger share of federal tax revenue. (See Who Really Benefited From the Bush Tax Cuts? and Why America Is Going To Miss The Bush Tax Cuts and George W. Bush, Middle Class Champion for more info.)

Bush had rising deficits from a balanced budget that not cutting taxes might have prevented.

Look at a chart that actually means something:

So under Reagan, government spending as % of GDP plummeted and ended below government revenues. Reagan was actually on a glidepath to budget surpluses

Bingo. That shows the absurdity of comparing revenue or spending to GDP. Like I said, both sides use this misleading comparison when it suits their purposes. I prefer real math and numbers that mean something.

Federal revenue rose substantially after the Bush tax cuts, but federal spending rose even more. Again, when you get a 4% raise but you increase your spending by 12%, you're gonna be in the red. You can argue a lot of things, but you can't argue with math.

Year over year revenues fell in 2002, 2003, 2008, and 2009.

Show us the chart where the revenue fell! Then we shall discuss your chart too!

 

[nat4900]

OK, let me get this straight......GWB CUT taxes....nonetheless revenue INCREASED......

Following that line of logic then:

If I CUT my employees' salaries.....productivity may/will increase?

If I CUT my intake of calories per day.....my weight will increase?

If I CUT my daily viewing of news items.....my knowledge of what's going on in the world will increase?

(I won't even go into the Bush war spending that was underwritten by a credit card for China, India and Japan.)

 

[TheOldSchool]

When will conservatives ever stop pretending Dubya was anything other than a total disaster?

 

[imawhosure]

OK, let me get this straight......GWB CUT taxes....nonetheless revenue INCREASED......

Following that line of logic then:

If I CUT my employees' salaries.....productivity may/will increase?

If I CUT my intake of calories per day.....my weight will increase?

If I CUT my daily viewing of news items.....my knowledge of what's going on in the world will increase?

(I won't even go into the Bush war spending that was underwritten by a credit card for China, India and Japan.)

lol, you obviously know nothing about economics. The reason it rises is because more money moves, and almost all movement creates a taxable event. And, as money moves, it also creates a difference in who has possession of it, which means the amount they pay rises.

 

[nat4900]

lol, you obviously know nothing about economics. The reason it rises is because more money moves, and almost all movement creates a taxable event. And, as money moves, it also creates a difference in who has possession of it, which means the amount they pay rises.

Snide remarks aside, you should know that my post was tongue-n-cheek.......Nonetheless, I am happy that right wingers admit, whether they like it or not, that they support tax INCREASES otherwise federal revenue could NOT have happened.

 

[CrusaderFrank]

Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. We are also told that the Bush tax cuts mostly benefited the rich. Some liberals even still claim that somehow the Bush tax cuts contributed to the Great Recession (right, because letting people keep more of their money somehow, someway harms the economy!). Here are the facts:

* The Bush tax cuts were followed by huge increases in federal revenue. As anyone can confirm by looking at federal tax revenue data, here's what happened to federal revenue following the Bush tax cuts:

2003 -- $1.78 trillion
2004 -- $1.88 trillion
2005 -- $2.15 trillion
2006 -- $2.40 trillion
2007 -- $2.56 trillion

In other words, from 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history.

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. (See The Facts About Tax Cuts, Revenue, and Growth for more info.)

So why did the deficit explode? Because Congress went on a spending spree and raised spending at an even faster rate than revenue was rising. It's that simple. If Congress had merely limited spending hikes to match inflation, we would have been operating well in the black.

* The Bush tax cuts were followed by 52 consecutive months of economic growth. We have had nothing close to that since Bush left office.

* The Bush tax cuts benefited everyone, not just the rich. Some of the largest rate cuts went to the middle class/the poor. In fact, after the Bush tax cuts, the rich paid a larger share of federal tax revenue. (See Who Really Benefited From the Bush Tax Cuts? and Why America Is Going To Miss The Bush Tax Cuts and George W. Bush, Middle Class Champion for more info.)

I believe that you must have inadvertently left out the qualifier OF "bushes TWO and a HALF UNFUNDED WARS" that coincided with his tax cuts when you posted this.

” Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. “

Krugam said we're still paying for WWII, what war was ever fully funded?

 

[imawhosure]

lol, you obviously know nothing about economics. The reason it rises is because more money moves, and almost all movement creates a taxable event. And, as money moves, it also creates a difference in who has possession of it, which means the amount they pay rises.

Snide remarks aside, you should know that my post was tongue-n-cheek.......Nonetheless, I am happy that right wingers admit, whether they like it or not, that they support tax INCREASES otherwise federal revenue could NOT have happened.

Of course I am happy when revenue rises, it means taxes are lowered, and business and people begin to spend the windfalls creating table events. What is not to like? People get more stuff, and the government gets more revenue. Sounds like a plan, doesn't it?

 

[imawhosure]

lol, you obviously know nothing about economics. The reason it rises is because more money moves, and almost all movement creates a taxable event. And, as money moves, it also creates a difference in who has possession of it, which means the amount they pay rises.

Snide remarks aside, you should know that my post was tongue-n-cheek.......Nonetheless, I am happy that right wingers admit, whether they like it or not, that they support tax INCREASES otherwise federal revenue could NOT have happened.

Of course I am happy when revenue rises, it means taxes are lowered, and business and people begin to spend the windfalls creating taxable events. What is not to like? People get more stuff, and the government gets more revenue. Sounds like a plan, doesn't it? Well, maybe not to you, but to me it does!

 

[Moonglow]

Every month or so we a liberal thread about how the Bush tax cuts led to huge deficits and an explosion in the national debt. We are also told that the Bush tax cuts mostly benefited the rich. Some liberals even still claim that somehow the Bush tax cuts contributed to the Great Recession (right, because letting people keep more of their money somehow, someway harms the economy!). Here are the facts:

* The Bush tax cuts were followed by huge increases in federal revenue. As anyone can confirm by looking at federal tax revenue data, here's what happened to federal revenue following the Bush tax cuts:

2003 -- $1.78 trillion
2004 -- $1.88 trillion
2005 -- $2.15 trillion
2006 -- $2.40 trillion
2007 -- $2.56 trillion

In other words, from 2004 to 2007, federal tax revenue increased by $780 billion, the largest four-year increase in American history.

Total federal revenue for 2008 dropped slightly, down to $2.52 trillion, because a recession started that year, but revenue was still substantially higher than it was in 2003 or 2004. (See The Facts About Tax Cuts, Revenue, and Growth for more info.)

So why did the deficit explode? Because Congress went on a spending spree and raised spending at an even faster rate than revenue was rising. It's that simple. If Congress had merely limited spending hikes to match inflation, we would have been operating well in the black.

* The Bush tax cuts were followed by 52 consecutive months of economic growth. We have had nothing close to that since Bush left office.

* The Bush tax cuts benefited everyone, not just the rich. Some of the largest rate cuts went to the middle class/the poor. In fact, after the Bush tax cuts, the rich paid a larger share of federal tax revenue. (See Who Really Benefited From the Bush Tax Cuts? and Why America Is Going To Miss The Bush Tax Cuts and George W. Bush, Middle Class Champion for more info.)

Even notice you can't even spell Liberal without l-i-e

Or conservative without con....