Bush had already cut taxes in 2001, 2001 and 2003. Federal income tax revenues fell all those years.
You skip past those pesky facts to point to rising revenues starting in 2004 but you falsely attribute that rise to the tax cuts (which already saw 3 years of decline) when it was actually the real estate bubble, which began expanding uncontrollably around 2004, which inflated the economy and increased tax revenues.
And why did I? Explain to the people!
Well no, let me---------->
I think Bush sucked as much as Obama, or almost as much, but let me tell everyone what ACTUALLY happened.............
Bush cut taxes on a phase in that Democrats agreed to. The reason both partys' agreed was the recession Bush was handed to him at the end of the Clinton Presidency. (did we forget about that?) And I am sure the phase in would have worked as both of the political partys' agreed to, until 9-11. When that happened, the economy TANKED, and those alive who actually were old enough to understand, know why.
Anyway, the tax cuts were to be phased in and take full effect in 2006 I believe, but the economy was so bad after 9-11, something had to be done.
In 2003, Bush decided to lobby congress to put in the tax cuts that were left together, to shock the economy back to normalcy. Look at charts that show what happened AFTER the 2003 "instant move up," and you will see how revenues to the federal government went wild.
Fauns assertion is just cherry picking. He doesn't say it, but implies that the tax cuts that were promised caused the economy to tank, and NOTHING could be further from the truth. 9-11 did it, and that caused the promised tax cuts into being invoked in 2003, instead of being played out until 2006. The growth was astounding, and the treasury grew massively, although our leaders like nothing more than to spend more money, when money comes in unexpectedly.
Bush was Obama lite, Obama was Bush heavy. Neither one of them deserve our time of day, not that everything both of them did was 100% wrong, but rather, to much of what they both did was not correct!
Dayam, you just can’t stop lying, can ya, lying con?
The 2001 recession began in March, 2001 and wasn’t determined until November, 2001. Meanwhile, Bush campaigned on cutting taxes
a year earlier. And with his first tax cut
passing in
June, 2001, how the **** were the parties agreeing to anything
regarding a recession that wouldn’t be declared for another 5 months???
Scratch a conservative and find a liar.
The more you post, the deeper your hole is getting.
And of course YOU are so dumb you think an oil tanker can turn around on a dime!
DIMWIT!!! The economy is LIKE an OIL TANKER... IT takes months if not years to decline and almost as long to recover!
So this crap about a "recession starting on 3/1/01 is just that! It started declining in 2000!
And this CRAP about Obama getting the credit for economic turnaround!
HE HAD NOTHING TO with it but slow it down with dumb economic statements like these:
View attachment 171869
I call BS !
Out of the worst hurricanes to hit the US , only Katrina was during the bush years .
Top Ten Hurricanes to Hit The United States
Please pay attention!
READ THE LINK!!!
The worst, Katrina made landfall in Louisiana as a Category 3 in 2005.
It took 1,836 lives and caused $81.2 billion in damages.
It quickly became the biggest natural disaster in U.S. history, almost destroying New Orleans due to severe flooding.
Rank Disaster Year Deaths Damage* $250 Billion in damages in the 8 disasters of the top 15 disasters in history!
1. Hurricane Katrina (LA/MS/AL/FL) 2005 1833 $133,800,000,000
6. Hurricane Ike (TX/LA/MS) 2008 112 $27,000,000,000
7. Hurricane Wilma (FL) 2005 35 $17,100,000,000
8. Hurricane Rita (TX/LA) 2005 119 $17,100,000,000
9. Hurricane Charley (FL) 2004 35 $16,500,000,000
12. Midwest Floods 2008 24 $15,000,000,000
13. Hurricane Ivan (FL/AL) 2004 57 $13,000,000,000
14. 30-State Drought 2002 0 $11,400,000,000
Costliest U.S. Weather Disasters | Weather Underground
And more importantly while these were going on, we had recovery from 9/11, dot.com bust and recession... all during those years.
AND finally idiots like you don't seem to understand the magnitude of this event!
READ and comprehend for once!
The 9/18/2008 Economic Terrorist Attack:
On Thursday (Sept 18), at 11 in the morning the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S.,
to the tune of $550 billion was being drawn out in the matter of an hour or two.
The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide.
We were having an electronic run on the banks.
They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn't be further panic out there. If they had not done that, their estimation was that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed. It would have been the end of our economic system and our political system as we know it...
How the World Almost Came to an End on September 18, 2008 | Seeking Alpha
On September 16, the
Reserve Primary Fund, a large
money market mutual fund, lowered its share price below $1 because of exposure to Lehman debt securities. This resulted in demands from investors to return their funds as the financial crisis mounted.
[21] By the morning of September 18, money market sell orders from institutional investors totalled $0.5 trillion, out of a total market capitalization of $4 trillion, but a $105 billion liquidity injection from the Federal Reserve averted an immediate collapse.
[22][23] On September 19 the U.S. Treasury
offered temporary insurance (akin to
Federal Deposit Insurance Corporation insurance of bank accounts) to money market funds.
[24] Toward the end of the week,
short selling of financial stocks was suspended by the
Financial Services Authority in the United Kingdom and by the
Securities and Exchange Commission in the United States.
[25] Similar measures were taken by authorities in other countries.
[26] Some restoration of market confidence occurred with the publicity surrounding efforts of the Treasury and the
Securities Exchange Commission[27][28]
US Troubled Asset Relief Program[edit]
Main articles:
Emergency Economic Stabilization Act of 2008 and
Troubled Assets Relief Program
On September 19, 2008 a plan intended to ameliorate the difficulties caused by the
subprime mortgage crisis was proposed by the Secretary of the Treasury,
Henry Paulson. He proposed a
Troubled Assets Relief Program (TARP), later incorporated into the
Emergency Economic Stabilization Act, which would permit the United States government to purchase
illiquid assets, informally termed
toxic assets, from financial institutions.
[29][30] The value of the securities is extremely difficult to determine.
[31]
Global financial crisis in September 2008 - Wikipedia
AND TARP was paid back under Obama who squandered it and the $80 billion in profits adding to the deficit of $9 Trillion!