Page 18 of 48 FirstFirst ... 8161718192028 ... LastLast
Results 171 to 180 of 480

Thread: Breaking: Agreement has been reached on raising the debt limit....

  1. #171
    Sage
    AdamT's Avatar
    Join Date
    Jul 2011
    Last Seen
    02-13-13 @ 04:09 PM
    Gender
    Lean
    Undisclosed
    Posts
    17,773

    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    It isn't my opinion, here are the income tax numbers, Bush had a recession and 9/11 in 2001-2002, and the Housing crisis in 2008

    2001 2163.7
    2002 2002.1
    2003 2047.9
    2004 2213.2
    2005 2546.8
    2006 2807.4
    2007 2951.2
    2008 2790.3

    By the way, the fiscal year for these numbers remains October 1 to Sept. 30. Fiscal year 2001 ended Sept. 30, 2001
    Are you serious? Obviously when we say that the tax cuts reduced revenue we are talking about revenue relative to what it would have been without the cuts.

  2. #172
    Sage
    AdamT's Avatar
    Join Date
    Jul 2011
    Last Seen
    02-13-13 @ 04:09 PM
    Gender
    Lean
    Undisclosed
    Posts
    17,773

    Re: Obama: We have a deal

    Quote Originally Posted by PzKfW IVe View Post
    This is ONLY true if you choose to not reduce spending.
    Reducing revenue cannot, by itself, cause a deficit
    A lot of spending is nondiscretionary, i.e., you can't simply choose not to spend that money.

  3. #173
    Banned
    Join Date
    May 2011
    Last Seen
    10-16-11 @ 03:14 PM
    Gender
    Lean
    Very Conservative
    Posts
    1,845

    Re: Obama: We have a deal

    Quote Originally Posted by AdamT View Post
    Are you serious? Obviously when we say that the tax cuts reduced revenue we are talking about revenue relative to what it would have been without the cuts.
    What would revenue have been w/o the cuts, and how do you know?

  4. #174
    Sage
    pbrauer's Avatar
    Join Date
    Jun 2010
    Location
    Oregon
    Last Seen
    11-27-15 @ 03:31 PM
    Gender
    Lean
    Liberal
    Posts
    25,394

    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Then prove it, how can you keeping more of what you earn be an expense to the govt. Stop buying the liberal spin. Do you think they want you to keep more of what you earn? Where do the liberal elite get their power?
    Here we go again, as I pointed out to you, conservative economists don't believe tax cuts pay for themselves, so its not just a liberal thingy. Fact is that President Clinton handed President Bush a budget surplus. We know appropriations that were approved after the budget cycle are not part of the budget, so these are not reflected in the surplus. So even though Clinton had a budget surplus, the debt still grew some, but the debt was becoming manageable. The in comes Bush with his "starve the beast" tax cuts. That's when the debt became unmanageable.

    national debt = previous national debt + current years deficit + plus appropriations.


  5. #175
    Sage
    Conservative's Avatar
    Join Date
    Dec 2009
    Location
    Houston, TX
    Last Seen
    Yesterday @ 09:57 PM
    Gender
    Lean
    Conservative
    Posts
    67,298

    Re: Obama: We have a deal

    Quote Originally Posted by AdamT View Post
    Are you serious? Obviously when we say that the tax cuts reduced revenue we are talking about revenue relative to what it would have been without the cuts.
    Without the cuts we would have higher unemployment and thus people paying less in taxes. Tax cuts put more money into the hands of the consumer and that makes it easier for economic growth and higher tax revenue. You have no way of knowing what the revenue would have been without the tax cuts but we do know what happened with the tax cuts so tell me how growing revenue from 2.002 trillion to 2.951 trillion can happen with tax cuts? This is FIT not total taxes either as corporate taxes and exise taxes also grew

  6. #176
    Banned
    Join Date
    May 2011
    Last Seen
    10-16-11 @ 03:14 PM
    Gender
    Lean
    Very Conservative
    Posts
    1,845

    Re: Obama: We have a deal

    Quote Originally Posted by AdamT View Post
    A lot of spending is nondiscretionary, i.e., you can't simply choose not to spend that money.
    False. Every dollar is voluntarily spent; at any time, any and all spending can be reduced.

  7. #177
    Sage
    Conservative's Avatar
    Join Date
    Dec 2009
    Location
    Houston, TX
    Last Seen
    Yesterday @ 09:57 PM
    Gender
    Lean
    Conservative
    Posts
    67,298

    Re: Obama: We have a deal

    Quote Originally Posted by pbrauer View Post
    Here we go again, as I pointed out to you, conservative economists don't believe tax cuts pay for themselves, so its not just a liberal thingy. Fact is that President Clinton handed President Bush a budget surplus. We know appropriations that were approved after the budget cycle are not part of the budget, so these are not reflected in the surplus. So even though Clinton had a budget surplus, the debt still grew some, but the debt was becoming manageable. The in comes Bush with his "starve the beast" tax cuts. That's when the debt became unmanageable.

    national debt = previous national debt + current years deficit + plus appropriations.
    Tax cuts since they aren't an expense have to pay for nothing however tax cuts helped you pay your mortgage

  8. #178
    Sage
    pbrauer's Avatar
    Join Date
    Jun 2010
    Location
    Oregon
    Last Seen
    11-27-15 @ 03:31 PM
    Gender
    Lean
    Liberal
    Posts
    25,394

    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Tax cuts since they aren't an expense have to pay for nothing however tax cuts helped you pay your mortgage
    Did this post address my post?


  9. #179
    Sage
    Conservative's Avatar
    Join Date
    Dec 2009
    Location
    Houston, TX
    Last Seen
    Yesterday @ 09:57 PM
    Gender
    Lean
    Conservative
    Posts
    67,298

    Re: Obama: We have a deal

    Quote Originally Posted by pbrauer View Post
    Did this post address my post?
    Yes, I believe I did since it is claimed that tax cuts have to pay for themselves. Since tax cuts aren't a line item expense there is nothing to pay for. You are claiming that tax revenue has to pay for all the spending regardless of how much that spending is. I rightly told you that tax cuts benefited and all tax payers and that means less of that so called liberal help is needed

  10. #180
    Sage
    AdamT's Avatar
    Join Date
    Jul 2011
    Last Seen
    02-13-13 @ 04:09 PM
    Gender
    Lean
    Undisclosed
    Posts
    17,773

    Re: Obama: We have a deal

    Quote Originally Posted by Conservative View Post
    Without the cuts we would have higher unemployment and thus people paying less in taxes. Tax cuts put more money into the hands of the consumer and that makes it easier for economic growth and higher tax revenue. You have no way of knowing what the revenue would have been without the tax cuts but we do know what happened with the tax cuts so tell me how growing revenue from 2.002 trillion to 2.951 trillion can happen with tax cuts? This is FIT not total taxes either as corporate taxes and exise taxes also grew
    It's true that general tax cuts do not reduce revenue 1:1. As you say, there is a stimulative effect. But it has been studied many times and even die-hard supply siders no longer claim that tax cuts don't reduce revenue. The official estimate when the Bush tax cuts were passed was that they would reduce revenue by $1.35 trillion. That is probably pretty accurate.

Page 18 of 48 FirstFirst ... 8161718192028 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •