Page 8 of 21 FirstFirst ... 67891018 ... LastLast
Results 71 to 80 of 207

Thread: Showdown over Bush tax cuts Wednesday

  1. #71
    Disappointed Evolutionist
    Catawba's Avatar
    Join Date
    Jun 2009
    Last Seen
    05-28-13 @ 08:15 PM
    Gender
    Lean
    Liberal
    Posts
    27,254

    Re: Showdown over Bush tax cuts Wednesday

    Quote Originally Posted by mike2810 View Post
    Washington still has a spending problem and living outside its means. Lets just say the Bush tax cuts goes away for those making over
    250K. I will bet our national debt will continue to rise.


    Fact Check: Industry-Financed Study Gets President’s Tax Cuts Wrong

    "Below is an analysis by Jason Furman, Principal Deputy Director of the National Economic Council, highlighting the major flaws, errors and misleading statements in the study:

    * The study fallaciously assumes that the tax cuts are used to finance additional spending, ignoring the benefits of what the President actually proposed which was to use the revenue as part of a balanced plan to reduce the deficit and stabilize the debt. The President has proposed to let the high-income tax cuts expire and use the resulting $1 trillion in savings (over 10 years) as part of a balanced plan to reduce deficits and debt and put the nation on a sustainable fiscal course that includes $2.50 of spending cuts for every $1.00 of revenue."

    Fact Check: Industry-Financed Study Gets President
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  2. #72
    Sage
    Born Free's Avatar
    Join Date
    Sep 2011
    Location
    Sonny and Nice
    Last Seen
    12-14-17 @ 04:21 PM
    Lean
    Conservative
    Posts
    6,396

    Re: Showdown over Bush tax cuts Wednesday

    Quote Originally Posted by Catawba View Post
    Fact Check: Industry-Financed Study Gets President’s Tax Cuts Wrong

    "Below is an analysis by Jason Furman, Principal Deputy Director of the National Economic Council, highlighting the major flaws, errors and misleading statements in the study:

    * The study fallaciously assumes that the tax cuts are used to finance additional spending, ignoring the benefits of what the President actually proposed which was to use the revenue as part of a balanced plan to reduce the deficit and stabilize the debt. The President has proposed to let the high-income tax cuts expire and use the resulting $1 trillion in savings (over 10 years) as part of a balanced plan to reduce deficits and debt and put the nation on a sustainable fiscal course that includes $2.50 of spending cuts for every $1.00 of revenue."

    Fact Check: Industry-Financed Study Gets President
    Quote:
    "The President has proposed to let the high-income tax cuts expire and use the resulting $1 trillion in savings (over 10 years) as part of a balanced plan to reduce deficits and debt and put the nation on a sustainable fiscal course that includes $2.50 of spending cuts for every $1.00 of revenue."

    1 trillion in saving over 10 yrs, now that money Obama will burn up in one year, and then some. He raised the national debt by 6 trillion in just 4 yrs.

    Now to the cuts, 2.5 to 1 in spending cuts. What spending cuts?
    Liberals - Punish the Successful, Reward the Unsuccessful
    Liberals - Tax, Borrow, Spend, and Give Free Stuff
    Obama's legacy - President Donald Trump

  3. #73
    Disappointed Evolutionist
    Catawba's Avatar
    Join Date
    Jun 2009
    Last Seen
    05-28-13 @ 08:15 PM
    Gender
    Lean
    Liberal
    Posts
    27,254

    Re: Showdown over Bush tax cuts Wednesday

    Quote Originally Posted by Born Free View Post
    Quote:
    "The President has proposed to let the high-income tax cuts expire and use the resulting $1 trillion in savings (over 10 years) as part of a balanced plan to reduce deficits and debt and put the nation on a sustainable fiscal course that includes $2.50 of spending cuts for every $1.00 of revenue."

    1 trillion in saving over 10 yrs, now that money Obama will burn up in one year, and then some. He raised the national debt by 6 trillion in just 4 yrs.

    Now to the cuts, 2.5 to 1 in spending cuts. What spending cuts?
    "The President has proposed to let the high-income tax cuts expire and use the resulting $1 trillion in savings (over 10 years) as part of a balanced plan to reduce deficits and debt and put the nation on a sustainable fiscal course that includes $2.50 of spending cuts for every $1.00 of revenue."

    Cutting wasteful spending in federal programs like our excessive military spending that we have been spending almost as much as the rest of the world combined. Ending the Iraq war alone, which Romney argued against ending, saves us billions each month.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  4. #74
    Sage
    mike2810's Avatar
    Join Date
    Jan 2010
    Location
    arizona
    Last Seen
    Yesterday @ 10:52 PM
    Gender
    Lean
    Independent
    Posts
    15,032

    Re: Showdown over Bush tax cuts Wednesday

    Quote Originally Posted by Catawba View Post
    Fact Check: Industry-Financed Study Gets President’s Tax Cuts Wrong

    "Below is an analysis by Jason Furman, Principal Deputy Director of the National Economic Council, highlighting the major flaws, errors and misleading statements in the study:

    * The study fallaciously assumes that the tax cuts are used to finance additional spending, ignoring the benefits of what the President actually proposed which was to use the revenue as part of a balanced plan to reduce the deficit and stabilize the debt. The President has proposed to let the high-income tax cuts expire and use the resulting $1 trillion in savings (over 10 years) as part of a balanced plan to reduce deficits and debt and put the nation on a sustainable fiscal course that includes $2.50 of spending cuts for every $1.00 of revenue."

    Fact Check: Industry-Financed Study Gets President
    I am aware of factcheck. I gave an opinion.
    I am aware of the Presidents proposal. When was the last time Congress passed actually what the President Budget wanted? Most budgets from the President are DOA. With the House and Senate controlled by two different parties, things are in a gridlock.

    What are the odds of Obama's budget plan be passed by the House and Senate without changes?
    Seems each year our debt goes up.
    Last edited by mike2810; 07-26-12 at 06:06 PM.

  5. #75
    warrior of the wetlands
    TurtleDude's Avatar
    Join Date
    Oct 2005
    Location
    Ohio
    Last Seen
    Today @ 02:05 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    180,766

    Re: Showdown over Bush tax cuts Wednesday

    Quote Originally Posted by Catawba View Post
    Thanks for the far right class warfare rhetoric! It helps show out of touch you are with the facts:

    "only 17.8% of all U.S. households make more than $118,200 a year. Only 2.67% make more than $200,000. The fact that only 34% make more than $65,000 is astounding given how expensive other cost of living items have gotten over the past decade. That is why the middle class is feeling squeezed from all different sides."

    How much does the Average American Make? Breaking Down the U.S. Household Income Numbers.


    "In fact, tax cuts for the middle class and poor stimulate the economy, but tax cuts for the wealthy hurt the economy."


    "Bruce Bartlett, a Republican political appointee and domestic policy advisor to Ronald Reagan, points out that:

    Taxes were cut in 2001, 2002, 2003, 2004 and 2006.

    It would have been one thing if the Bush tax cuts had at least bought the country a higher rate of economic growth, even temporarily. They did not. Real G.D.P. growth peaked at just 3.6 percent in 2004 before fading rapidly. Even before the crisis hit, real G.D.P. was growing less than 2 percent a year…

    According to a recent C.B.O. report, they reduced revenue by at least $2.9 trillion below what it otherwise would have been between 2001 and 2011. Slower-than-expected growth reduced revenue by another $3.5 trillion.

    Spending was $5.6 trillion higher than the C.B.O. anticipated for a total fiscal turnaround of $12 trillion. That is how a $6 trillion projected surplus turned into a cumulative deficit of $6 trillion."

    Tax Cuts for the Middle Class and Poor STIMULATE The Economy, But Tax Cuts for the Wealthy HURT The Economy - Washington's Blog
    your appeals to the mediocrity is unpersuasive.

    and tell me why 200K is a proper delineation?

  6. #76
    warrior of the wetlands
    TurtleDude's Avatar
    Join Date
    Oct 2005
    Location
    Ohio
    Last Seen
    Today @ 02:05 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    180,766

    Re: Showdown over Bush tax cuts Wednesday

    Quote Originally Posted by TheDemSocialist View Post
    Perfect amount of sanity to that. Raise more revenue for the government.
    so you are on record saying the government needs more money but not your money

    got it

  7. #77
    warrior of the wetlands
    TurtleDude's Avatar
    Join Date
    Oct 2005
    Location
    Ohio
    Last Seen
    Today @ 02:05 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    180,766

    Re: Showdown over Bush tax cuts Wednesday

    Quote Originally Posted by haymarket View Post
    I would have thought you had learned the definition of MURDER in that law school you claim you went to. Killing a dictator or their lackeys can still be murder. Of course, any government official who tells you to do something that you object to would most likely qualify in your mind as a dictator and thus earn the fate you would like to dish out for them.
    shooting despots is not murder. I love how you constantly want to talk about MY education.

  8. #78
    Disappointed Evolutionist
    Catawba's Avatar
    Join Date
    Jun 2009
    Last Seen
    05-28-13 @ 08:15 PM
    Gender
    Lean
    Liberal
    Posts
    27,254

    Re: Showdown over Bush tax cuts Wednesday

    Quote Originally Posted by mike2810 View Post
    I am aware of factcheck. I gave an opinion.
    Thanks for your opinion, I prefer facts.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  9. #79
    warrior of the wetlands
    TurtleDude's Avatar
    Join Date
    Oct 2005
    Location
    Ohio
    Last Seen
    Today @ 02:05 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    180,766

    Re: Showdown over Bush tax cuts Wednesday

    Quote Originally Posted by Catawba View Post
    Thanks for your opinion, I prefer facts.
    that is truly a irony meter busting statement given your normal default position on taxes is WAIT FOR NOVEMER

  10. #80
    Disappointed Evolutionist
    Catawba's Avatar
    Join Date
    Jun 2009
    Last Seen
    05-28-13 @ 08:15 PM
    Gender
    Lean
    Liberal
    Posts
    27,254

    Re: Showdown over Bush tax cuts Wednesday

    Quote Originally Posted by TurtleDude View Post

    and tell me why 200K is a proper delineation?

    Because the 2.67% households making $200,000 can afford to do without the 5% tax cuts they have been enjoying for the last decade without affecting basic living needs, and it will have most positive effect on our economy.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

Page 8 of 21 FirstFirst ... 67891018 ... 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
  •