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Thread: So How Did the Bush Tax Cuts Work Out for the Economy?

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by Boo Radley View Post
    Pay attention and answer the person you're talking to. Not others. Show me what Obama did to add to the unemployed. Did he lay people off? Forced employers to lay people off? If you believe government is the answer, show me how.
    Failed to give business the confidence needed to hire new employees. Obamacare, expiration of the Bush tax cuts, bailouts of democrat stimulus groups, and massive expansion of the Federal govt. and their control including all the Czars.

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by McCain2012 View Post
    Obama has passed health policies that are bad for our country including restrictions on private health insurance companies from prohibiting sick little children from receiving health insurance under "preexisting conditions", prohibiting health insurance companies from dropping Americans from their policies if they receive life threatening diseases like cancer, prohibiting credit card companies from raising our interest rates without letting us know, and putting regulations back into the mortgage loan business that "supposedly" crippled our economy. All of these things are bad for Americans and have done nothing to improve our livelihoods.
    Don't forget that Republicans want seniors to die, the air to be polluted, and children to starve. Obama and you seem to have a very different understanding as to the role of govt. Your style of govt. has failed everywhere and is being rolled back. Now you want that liberal arrogance to surface here. Looks to me like the people are rejecting it.

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by Boo Radley View Post
    Pay attention and answer the person you're talking to. Not others. Show me what Obama did to add to the unemployed. Did he lay people off? Forced employers to lay people off? If you believe government is the answer, show me how.
    And as for my government, we know that tax cuts is the answer to fixing the economy. Look at the tax cuts during the Bush term and how they effected the economy. Figures from bea.gov and the U.S. Treasurey department show that from 2003-2007, about half of Bushes term, there was an increase in tax revenue and job creation. The rest of his presidency doesn't matter because it wasn't his fault. The deficit increasing to "historic" levels was because we spent money on Operation Iraqi Freedom while the thieving democrats were only concerned with providing health care and housing for Americans. And the fact that the tax revenue in relation to GPD never increased, is not even a reflection of the economy was doing and is only typical liberal rhetoric. Look at the facts instead of believing liberal rhetoric and talking points.
    Last edited by McCain2012; 11-02-10 at 04:47 PM.

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by McCain2012 View Post
    And as for my government, we know that tax cuts is the answer to fixing the economy. Look at the tax cuts during the Bush term and how they effected the economy. Figures from bea.gov and the U.S. Treasurey department show that from 2003-2007, about half of Bushes term, there was an increase in tax revenue and job creation. The rest of his presidency doesn't matter because it wasn't his fault. The deficit increasing to "historic" levels was because we spent money on Operation Iraqi Freedom while the thieving democrats were only concerned with providing health care and housing for Americans. And the fact that the tax revenue in relation to GPD never increased, is not even a reflection of the economy was doing and is only typical liberal rhetoric. Look at the facts instead of believing liberal rhetoric and talking points.
    What was your alias before today?

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by Conservative View Post
    Failed to give business the confidence needed to hire new employees. Obamacare, expiration of the Bush tax cuts, bailouts of democrat stimulus groups, and massive expansion of the Federal govt. and their control including all the Czars.
    I don't buy that, but at least it is an attempt to answer the question. Business has done well no matter government has done, and done poorly despite all efforts to help. Government is not the answer.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by Boo Radley View Post
    I don't buy that, but at least it is an attempt to answer the question. Business has done well no matter government has done, and done poorly despite all efforts to help. Government is not the answer.
    Then tell that to Obama who thinks Govt. is the answer.

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by McCain2012 View Post
    And as for my government, we know that tax cuts is the answer to fixing the economy. Look at the tax cuts during the Bush term and how they effected the economy. Figures from bea.gov and the U.S. Treasurey department show that from 2003-2007, about half of Bushes term, there was an increase in tax revenue and job creation. The rest of his presidency doesn't matter because it wasn't his fault. The deficit increasing to "historic" levels was because we spent money on Operation Iraqi Freedom while the thieving democrats were only concerned with providing health care and housing for Americans. And the fact that the tax revenue in relation to GPD never increased, is not even a reflection of the economy was doing and is only typical liberal rhetoric. Look at the facts instead of believing liberal rhetoric and talking points.
    We know nothing of the kind. Tax cuts were in palce when the economy went south. They are in palce now, and the economy is not doing well. Historically tax cuts seem to have little to no effect on the economy as it has done poorly with tax cuts and well, and it has done well with a high tax base and poorly. Other factors play a far larger role than taxes.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by Boo Radley View Post
    We know nothing of the kind. Tax cuts were in palce when the economy went south. They are in palce now, and the economy is not doing well. Historically tax cuts seem to have little to no effect on the economy as it has done poorly with tax cuts and well, and it has done well with a high tax base and poorly. Other factors play a far larger role than taxes.
    it's so weird.......we were in the toilet before the healthcare bill was passed. the tax cuts were already in place......and obama provided MORE tax cuts. conservatives are high.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by Boo Radley View Post
    We know nothing of the kind. Tax cuts were in palce when the economy went south. They are in palce now, and the economy is not doing well. Historically tax cuts seem to have little to no effect on the economy as it has done poorly with tax cuts and well, and it has done well with a high tax base and poorly. Other factors play a far larger role than taxes.
    Why are you so passionate about taxes and taking more from the American people?

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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by liblady View Post
    it's so weird.......we were in the toilet before the healthcare bill was passed. the tax cuts were already in place......and obama provided MORE tax cuts. conservatives are high.
    Another Obama lie. Why do you believe what Obama continues to tell you?

    Notice the difference and the strings attached?

    Tax cuts

    Total: $288 billion

    Tax cuts for individuals

    Total: $237 billion
    • $116 billion: New payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010. Phaseout begins at $75,000 for individuals and $150,000 for joint filers.[29]
    • $70 billion: Alternative minimum tax: a one year increase in AMT floor to $70,950 for joint filers for 2009.[29]
    • $15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
    • $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
    • $6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.[41]
    • $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
    • $4.7 billion: Expanded earned income tax credit to increase the earned income tax credit — which provides money to low income workers — for families with at least three children.
    • $4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
    • $1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.

    Bush Tax cuts

    Between 2001 and 2003, the Bush administration instituted a federal tax cut for all taxpayers. Among other changes, the lowest income tax rate was lowered from 15% to 10%, the 27% rate went to 25%, the 30% rate went to 28%, the 35% rate went to 33%, and the top marginal tax rate went from 39.6% to 35%.[3] In addition, the child tax credit went from $500 to $1000, and the "marriage penalty" was reduced. Since the cuts were implemented as part of the annual congressional budget resolution, which protected the bill from filibusters, numerous amendments, and more than 20 hours of debate, it had to include a sunset clause. Unless congress passes legislation making the tax cuts permanent, they will expire in 2011.

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