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Thread: Democrats may stop Bush-era tax cuts for wealthy from expiring

  1. #101
    Educator Gabriel's Avatar
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    Re: Democrats may stop Bush-era tax cuts for wealthy from expiring

    Quote Originally Posted by MaggieD View Post
    I want to state this in words so I'm sure I understand it. 48% of our current deficit is the responsibility of tax cuts....? Is that how this pie is interpretted? I see it's the CBO so . . .

    I'd better be very careful here. I may just learn something.
    Tax cuts have really not helped as much as they are touted to have.

    http://www.cbpp.org/cms/?fa=view&id=692
    Last edited by Gabriel; 07-22-10 at 11:03 PM.

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    Re: Democrats may stop Bush-era tax cuts for wealthy from expiring

    Quote Originally Posted by Gabriel View Post
    Tax cuts have really not helped as much as they are touted to have.

    Tax Cuts: Myths and Realities — Center on Budget and Policy Priorities
    they helped those who got them

    I voted for Bush because he promised tax cuts. He did what his supporters wanted. I voted against clinton because he raised taxes on those who already pay too much



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    Re: Democrats may stop Bush-era tax cuts for wealthy from expiring

    Quote Originally Posted by Gabriel View Post
    wrong again-its spending that causes the deficits

    you again fail since you assume that all government spending is necessary

    that is a biased graph since again it assumes all that spending is needed. I deny that



  4. #104
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    Re: Democrats may stop Bush-era tax cuts for wealthy from expiring

    Quote Originally Posted by TurtleDude View Post
    they helped those who got them

    I voted for Bush because he promised tax cuts. He did what his supporters wanted. I voted against clinton because he raised taxes on those who already pay too much
    Which created a budget surplus they could have started to use to pay debt. The economy was booming.

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    Re: Democrats may stop Bush-era tax cuts for wealthy from expiring

    Quote Originally Posted by disneydude View Post
    Take a look at the economic indicators. They are almost all moving in the right direction...albeit slowly. Stopping the decline and making small gains...I would call that progress....you don't?
    What proof it wouldn't have stopped anyway. When real job gains happen let me know.

    Obama claims he created jobs i say that is bull.

    Massive New Study Confirms Stimulus Spending On Road Construction Does Nothing To Lower Unemployment

    Here's the full write-up of the study from the AP:

    Ten months into President Barack Obama's first economic stimulus plan, a surge in spending on roads and bridges has had no effect on local unemployment and only barely helped the beleaguered construction industry, an Associated Press analysis has found.

    Spend a lot or spend nothing at all, it didn't matter, the AP analysis showed: Local unemployment rates rose and fell regardless of how much stimulus money Washington poured out for transportation, raising questions about Obama's argument that more road money would address an "urgent need to accelerate job growth."

    Obama wants a second stimulus bill from Congress that relies in part on more road and bridge spending, projects the president said are "at the heart of our effort to accelerate job growth."

    Construction spending would be a key part of the Jobs for Main Street Act, a $75 billion second stimulus to revive the nation's lethargic unemployment rate and improve the dismal job market for construction workers. The House approved the bill 217-212 last month after House Speaker Nancy Pelosi, D-Calif., worked the floor for an hour; the Senate is expected to consider it later in January.

    AP's analysis, which was reviewed by independent economists at five universities, showed that strategy hasn't affected unemployment rates so far. And there's concern it won't work the second time. For its analysis, the AP examined the effects of road and bridge spending in communities on local unemployment; it did not try to measure results of the broader aid that also was in the first stimulus like tax cuts, unemployment benefits or money for states.

    "My bottom line is, I'd be skeptical about putting too much more money into a second stimulus until we've seen broader effects from the first stimulus," said Aaron Jackson, a Bentley University economist who reviewed AP's analysis.

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    Educator Gabriel's Avatar
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    Re: Democrats may stop Bush-era tax cuts for wealthy from expiring

    Quote Originally Posted by TurtleDude View Post
    wrong again-its spending that causes the deficits

    you again fail since you assume that all government spending is necessary

    that is a biased graph since again it assumes all that spending is needed. I deny that
    Well clearly since bush didn't cut spending the tax cuts increased the deficit/debt.. pretty clear that is how things went.

    EDIT: Look the data is from CBO.. I didn't make it up.

    EDIT: Obviously the tax cuts did not pay for themselves.
    Last edited by Gabriel; 07-22-10 at 11:11 PM.

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    Re: Democrats may stop Bush-era tax cuts for wealthy from expiring

    Quote Originally Posted by Gabriel View Post
    Which created a budget surplus they could have started to use to pay debt. The economy was booming.
    We were going into a recession

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    Re: Democrats may stop Bush-era tax cuts for wealthy from expiring

    Quote Originally Posted by Gabriel View Post
    Which created a budget surplus they could have started to use to pay debt. The economy was booming.
    I don't have much use of sacrificing individual rights and property for supposed benefits to the greater good. There is no evidence that the clinton tax hikes caused the boom. Its more reasonable to attribute that to the belt tightening under Bush I and the dot com bubble

    does the right of the rich to keep their own property always melt to the "needs" of a greedy government?



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    Re: Democrats may stop Bush-era tax cuts for wealthy from expiring

    Quote Originally Posted by Gabriel View Post
    Well clearly since bush didn't cut spending the tax cuts increased the deficit/debt.. pretty clear that is how things went.

    EDIT: Look the data is from CBO.. I didn't make it up.

    EDIT: Obviously the tax cuts did not pay for themselves.
    so tax revenues went down? or they would have stayed as high (as under Clinton) if there had been no tax cuts?

    I know you cannot establish the second proposition.



  10. #110
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    Re: Democrats may stop Bush-era tax cuts for wealthy from expiring

    Quote Originally Posted by TurtleDude View Post
    so tax revenues went down? or they would have stayed as high (as under Clinton) if there had been no tax cuts?

    I know you cannot establish the second proposition.
    CBO Data Show Tax Cuts Have Played Much Larger Role than Domestic Spending Increases in Fueling the Deficit — Center on Budget and Policy Priorities

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