Will Liberals Ever Stop Lying About the Bush Tax Cuts?

[C_Clayton_Jones]

No one is 'lying' about the Bush tax cuts, as they in fact contributed to the growing deficit, having no positive impact on economic growth:

"The 2001 tax cut did nothing to stimulate the economy, yet Republicans pushed for additional tax cuts in 2002, 2003, 2004, 2006 and 2008. The economy continued to languish even as the Treasury hemorrhaged revenue, which fell to 17.5 percent of the gross domestic product in 2008 from 20.6 percent in 2000. Republicans abolished Paygo in 2002, and spending rose to 20.7 percent of G.D.P. in 2008 from 18.2 percent in 2001.

According to the C.B.O., by the end of the Bush administration, legislated tax cuts reduced revenues and increased the national debt by $1.6 trillion. Slower-than-expected growth further reduced revenues by $1.4 trillion."

http://economix.blogs.nytimes.com/2012/06/12/the-fiscal-legacy-of-george-w-bush/

 

[NYcarbineer]

Clinton raised taxes.....

Clinton Tax Hikes Slowed Growth

That's old propaganda. Clinton's tax increases were followed by

1. years of increased tax revenues.

2. years of falling deficits.

3. years of economic growth

IOW, his tax increases were followed by what fiscal conservatives always at least pretend they want.

 

[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.)

According to CBO, the U.S. national debt grew SIGNIFICANTLY from 2001 to 2009, both in dollars and % of GDP due to the combination of tax cuts and the wars in Afghanistan and Iraq.

If you have anything that that would refute CBO’s contention, I would be interested in reading it.

again....spending, not revenue is the problem.......they always spend everything we send them and then they spend even more......it isn't a tax problem...it is a spending problem......

You mean spending like this?

 

[NYcarbineer]

The cut-taxes-increase-revenues pipe dream is the conservative version of the

eat-anything-you-want-and-still-lose-weight scam diets.

 

[TheOldSchool]

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

When truth and reality no longer exist........

Yeah because the GOP totally loves flaunting Dubya and having him do public appearances

 

[nat4900]

through work and businesses....they start more businesses, expand their businesses, hire more workers, create more products.....

Yeah, usually in China, India and Swiss bankers' new hires.

 

[nat4900]

Want to INCREASE consumer spending to stimulate the economy?
Increase minimum wage and middle class income.

Want to know how to finance these increases?
Compel large corporations to RE-invest in jobs within our borders and not go where they can enslave other populations by paying them $3 a-day.

How do you compel these organizations to repatriate jobs?
Simple, if they don't, then their goods and services cannot be sold within the U.S.

 

[imawhosure]

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?

Well, so is a genie coming out of a lamp.....

Tax cuts stimulate the economy when those cuts ONLY go to lower and middle income people.....The rich, in this latest GWB instance, took the cuts and invested in foreign markets or stashed it in the Caymans.....

If the expectations were that rich folks would take the cuts and INVEST in creating jobs (that would be taxed), then the plan failed miserably since under GWB....how many jobs were lost per month???

Tax cuts got Bush re-elected.......but the job losses should garner for him the gratitude of the 3 or 4% who really benefited.

Now you see Mike, I don't have esp, I just know lefties. Told you where it would go, and if they could build a bridge that wasn't to far, they would find a way to include the "war on women" to make it a twofer, lolololol.

They have bumper sticker sayings, and they try and tie it into a neat little package. War on women, Bush lied-people died, never trust anyone over 30, income inequality, and the list goes on, and on.

I am sure these coneheads are trying to figure out how to tie as many of their bumper sticker sayings into your thread, while proclaiming that "boooooosh" was even worse than he was.

I am thinking we should all go to church on Sunday, get down on our knees and pray to the lefty messiah; Obysmal, (praise be his name) and let the brilliance of modern liberalism shine down upon us so much, that we will vote for his angel of dea**............oh, excuse me, I meant angel of mercy, Hillary, Rotten, (let me wipe my server with a cloth) Clinton.

Oh yes, we are lost, and the lefty messiah shall lead us out of the wilderness..............but not to far, because we have to save the trees, the antelope, the bears, the cockroaches, and the spiders before we leave. So let it be written, so let it be done!

 

[Sun Devil 92]

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.)

A prime example of why our country is screwed.

 

[The Rabbi]

You're dealing with people who think BUsh lied us into war with Iraq and Gore won in 2000. There is no reasoning with them.

 

[2aguy]

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:

Nope...wrong answer.......the tax revenue went up with the tax cuts......and then they spent even more than that.....

It is never a tax revenue problem...it is always a government spending problem.......

Deficit spending produces tax revenue. You can't credit tax cuts with increases in revenue that are actually being caused by deficit spending.

Deficit spending....your kidding right....then why don't we just confiscate everyones money...have the government spend it and just watch all the tax revenue roll in.....you guys would be funny if you weren't so dangerous...

 

[Care4all]

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.)

* 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.

The first round of the bush tax cuts were in 2001, beginning around July of 2001 with a tax rebate check for $300 each so revenues were affected immediately, and 2001 tax cuts were retroactive, so when we filed for 2001, we got the rest of the tax cuts.

So your numbers are NOT correct and this is revisionist history, NOT facts... to present a case your figures must begin in 2001 and not in 2003.

In president Clinton's year 2000, we were ALREADY COLLECTING OVER $2 trillion a year in tax revenues/receipts, in Clinton's last fiscal year, which was 2001...his receipts fell some, because when president bush took over, bush/congress, passed his first set of tax cuts with those rebates, which fell in to Clinton's last fiscal year because they were given out before the fiscal year end on Sept 30, 2001(the end of Clinton's last fiscal year of responsibility).

The Nation's receipts would have been well over $2 trillion without those bush tax cuts....

Soooooooooooooooo,

saying that the tax cuts increased revenues immediately is simply not fact, NOT EVEN CLOSE to fact....our revenues were cut, from fiscal year 2000 under Clinton for -2001, 2002, 2003, 2004 and then FINALLY in 2005, in the middle of the peak in the BIGGEST housing BUBBLE in American history, revenues taken in finally went to about the level they were BEFORE the bush tax cuts, 5 years EARLIER....AND THOSE 5 YEARS, THEY LOST HUNDREDS OF BILLIONS OF DOLLARS IN TAX REVENUES....(adding tremendous amounts to the deficit during these good times that we were economically in) before we got to that break even point with 2000.

And within the biggest housing bubble in American history, along with everyone and their brother taking out second mortgages and spending that borrowed money in the economy, and on purchases of second homes etc helped generate more revenues in taxes, NOT the TAX cuts.
Historical Federal Receipt and Outlay Summary

So you've just got this ALL Wrong, you truly do.

 

[2aguy]

No one is 'lying' about the Bush tax cuts, as they in fact contributed to the growing deficit, having no positive impact on economic growth:

"The 2001 tax cut did nothing to stimulate the economy, yet Republicans pushed for additional tax cuts in 2002, 2003, 2004, 2006 and 2008. The economy continued to languish even as the Treasury hemorrhaged revenue, which fell to 17.5 percent of the gross domestic product in 2008 from 20.6 percent in 2000. Republicans abolished Paygo in 2002, and spending rose to 20.7 percent of G.D.P. in 2008 from 18.2 percent in 2001.

According to the C.B.O., by the end of the Bush administration, legislated tax cuts reduced revenues and increased the national debt by $1.6 trillion. Slower-than-expected growth further reduced revenues by $1.4 trillion."

http://economix.blogs.nytimes.com/2012/06/12/the-fiscal-legacy-of-george-w-bush/

No....excessive spending in all cases which used up all the tax money coming in caused the deficit and the debt we now face.......Tax cuts stimulate the economy....works everytime it is tried....and then you guys come in and spend all the money...and more and more that you don't have, and then you say "See...if we didn't cut taxes we wouldnt' have a deficit." You guys still don't get it.....if you spend everything you bring in...it isn't that you didn't bring in enough revenue....it is that you couldn't control yourselves and spent all the money......

What is so hard to understand.....

 

[The Rabbi]

When Bush left office the debt was $10T. The debt is now $18T after 8 years of Democrats. Democrats are the pproblem.

 

[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:

Nope...wrong answer.......the tax revenue went up with the tax cuts......and then they spent even more than that.....

It is never a tax revenue problem...it is always a government spending problem.......

Deficit spending produces tax revenue. You can't credit tax cuts with increases in revenue that are actually being caused by deficit spending.

Deficit spending....your kidding right....then why don't we just confiscate everyones money...have the government spend it and just watch all the tax revenue roll in.....you guys would be funny if you weren't so dangerous...

Every GOP president in the past 30 years has generated revenue from deficit spending.

 

[2aguy]

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:

Nope...wrong answer.......the tax revenue went up with the tax cuts......and then they spent even more than that.....

It is never a tax revenue problem...it is always a government spending problem.......

Deficit spending produces tax revenue. You can't credit tax cuts with increases in revenue that are actually being caused by deficit spending.

Deficit spending....your kidding right....then why don't we just confiscate everyones money...have the government spend it and just watch all the tax revenue roll in.....you guys would be funny if you weren't so dangerous...

Every GOP president in the past 30 years has generated revenue from deficit spending.

Then you should spend all of your life savings.....see how much revenue that generates for you........

 

[NYcarbineer]

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

Look at a chart that actually means something:

Nope...wrong answer.......the tax revenue went up with the tax cuts......and then they spent even more than that.....

It is never a tax revenue problem...it is always a government spending problem.......

Deficit spending produces tax revenue. You can't credit tax cuts with increases in revenue that are actually being caused by deficit spending.

Deficit spending....your kidding right....then why don't we just confiscate everyones money...have the government spend it and just watch all the tax revenue roll in.....you guys would be funny if you weren't so dangerous...

Every GOP president in the past 30 years has generated revenue from deficit spending.

Then you should spend all of your life savings.....see how much revenue that generates for you........

The American people have massive levels of debt. Why do you suppose that is?

 

[The Rabbi]

Nope...wrong answer.......the tax revenue went up with the tax cuts......and then they spent even more than that.....

It is never a tax revenue problem...it is always a government spending problem.......

Deficit spending produces tax revenue. You can't credit tax cuts with increases in revenue that are actually being caused by deficit spending.

Deficit spending....your kidding right....then why don't we just confiscate everyones money...have the government spend it and just watch all the tax revenue roll in.....you guys would be funny if you weren't so dangerous...

Every GOP president in the past 30 years has generated revenue from deficit spending.

Then you should spend all of your life savings.....see how much revenue that generates for you........

The American people have massive levels of debt. Why do you suppose that is?

They spend more than they take in.

 

[NYcarbineer]

Deficit spending produces tax revenue. You can't credit tax cuts with increases in revenue that are actually being caused by deficit spending.

Deficit spending....your kidding right....then why don't we just confiscate everyones money...have the government spend it and just watch all the tax revenue roll in.....you guys would be funny if you weren't so dangerous...

Every GOP president in the past 30 years has generated revenue from deficit spending.

Then you should spend all of your life savings.....see how much revenue that generates for you........

The American people have massive levels of debt. Why do you suppose that is?

They spend more than they take in.

Why?

 

[The Rabbi]

Deficit spending....your kidding right....then why don't we just confiscate everyones money...have the government spend it and just watch all the tax revenue roll in.....you guys would be funny if you weren't so dangerous...

Every GOP president in the past 30 years has generated revenue from deficit spending.

Then you should spend all of your life savings.....see how much revenue that generates for you........

The American people have massive levels of debt. Why do you suppose that is?

They spend more than they take in.

Why?

Same reason a dog licks his balls.