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Thread: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by ptif219 View Post
    Critics of Tax Cuts Were Wrong, Bush Says


    Since 2001, the tax relief we delivered has left $880 billion in the hands of American workers, and small businesses, and families like yours, and you used that money to help produce more than four years of uninterrupted economic growth. Last year, our economy grew at a healthy 3.5 percent, faster than any other major industrialized nation.

    One politician in Washington said in 2003 that our tax cuts were "ruining our economy and costing us jobs." The truth is that since August 2003, America has added almost 5 million new jobs. Our unemployment rate is now 4.8 percent -- lower than the average of the 1970s, 1980s, and 1990s. Real after-tax income is up 8 percent per person since the beginning of 2001. More Americans now own their own homes than at any time in our history, and minority homeownership is at record levels. Consumer confidence is at its highest level in nearly four years. Productivity has grown strongly over the past five years, and our small business sector is thriving.
    And Bush was a certifiable moron when it came to the economy

    Look at what he is promoting
    More Americans now own their own homes than at any time in our history, and minority homeownership is at record levels
    The unsustainable rise in the housing industry is why the boom occurred and why the bust occured

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by The Prof View Post
    what a poser
    Come on and make an adequate response.

    Has the wealth in China risen? If not then show a savings decrease.... At least attempt to be relevant.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Lord Tammerlain View Post
    There is a way out but it it in the future, 10 years out at least in my opinion

    To use your hole analogy

    Without government stimulus

    You and your family walk up to the grand canyon, stand on the edge, and someone pushes you and your family over the edge. You and your family go tumbling down, hitting the sharp rock edges breaking bones on the way. Perhaps one or more die from the fall. You fell 200 feet very quickly and violently. Now you are free to take your remaingly family members out of the canyon. It will take time to climb out of it but you will

    With government stimulus

    You stand at the edge of the grand canyon with your family, a group of banksters forces you and your family to walk to the bottom of the grand canyon, it takes a while, no one is injuried, or potentially killed, but you had to walk down total of 300 feet, you can now walk out, but it is going to take even longer then without government stimulus.
    If it takes 10 years then what is being done is not working. Government spending will not get us out it will prolong it hence your 10 year estimate.

    We need the private sector to grow and hire.

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by ptif219 View Post
    If it takes 10 years then what is being done is not working. Government spending will not get us out it will prolong it hence your 10 year estimate.

    We need the private sector to grow and hire.
    The private sector is so deep in debt that it wont (overall)

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Lord Tammerlain View Post
    And Bush was a certifiable moron when it came to the economy

    Look at what he is promoting The unsustainable rise in the housing industry is why the boom occurred and why the bust occured
    I notice you show no links when I ask.

    The housing boom started under Clinton who passed bills to make it happen it was not all Bush.

    Tax cuts help small business and others expand and grow which means they hire people.

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Lord Tammerlain View Post
    The private sector is so deep in debt that it wont (overall)
    Show proof

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by ptif219 View Post
    I notice you show no links when I ask.

    The housing boom started under Clinton who passed bills to make it happen it was not all Bush.

    Tax cuts help small business and others expand and grow which means they hire people.
    Did I blame Bush for the housing boom?


    I blame the fed the most.

    The links are easy to find if you dont believe me

    And tax cuts without spending cuts will result in government deficits (ie the government stimulating the economy

    But overall if people do not have money to spend on goods, business will not expand, meaning they wont hire people.

    Which in such cases tax cuts will do nothing to stimulate the economy.

    If people have money but are not spending it then yes tax cuts could work to stimulate the economy

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    It could be that not having the first clue has been mistaken as being agnostic.
    It was the Austrasians, that hewed on bravely through the thick of the fight, it was they who found and cut down the Saracen King.

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by ptif219 View Post
    Show proof
    Here you go

    Debt-To-GDP Chart "Wrong," US Debt Levels Fine

    Look at the charts and not the moronic commentary by Blodget

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    Re: Obama ‘Agnostic’ on Deficit Cuts, Won’t Prejudge Tax Increases

    Quote Originally Posted by Lord Tammerlain View Post
    Did I blame Bush for the housing boom?


    I blame the fed the most.

    The links are easy to find if you dont believe me

    And tax cuts without spending cuts will result in government deficits (ie the government stimulating the economy

    But overall if people do not have money to spend on goods, business will not expand, meaning they wont hire people.

    Which in such cases tax cuts will do nothing to stimulate the economy.

    If people have money but are not spending it then yes tax cuts could work to stimulate the economy
    I am not your researcher.


    Tax Cut Government Income Cuts Rate Argue Effects Economy

    A tax cut is a reduction in the rate of tax charged by a government, for example on personal or corporate income. Whether a given tax cut will increase or decrease total tax revenues is much discussed by both economists and politicians.

    The immediate effects of a tax cut are, generally, a decrease in the real income of the government and to increase the real income of those whose tax rate has been lowered. In the longer term, however, the effect on government income may be reversed, depending on the response that tax-payers make. Supply-siders argue that tax cuts for corporations and wealthy individuals provide them an incentive for investments which stimulate so much economic activity that even at the lower rate more net tax revenue will be collected.

    Some economists argue that even in the short term cutting some taxes, for example capital gains tax, may raise government income immediately due to long-postponed sales of securities being made at the lower rate.

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