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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 Conservative View Post
    Why are you so passionate about taxes and taking more from the American people?
    Passionate? Just passionate about being factually accurate. I think that is a good thing.

    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 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.
    Drugs are bad . . OK.

    No, some, not all, just don't think through what they are saying. Unfortunately, some of them want to be in congress.

    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
    Passionate? Just passionate about being factually accurate. I think that is a good thing.
    being factually accurate? your comments speak for themselves.

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

    Quote Originally Posted by Conservative View Post
    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.
    where is the obama lie? YOU are the liar here. what you fail to note is that the bush tax cuts are still in place, and obama has done nothing but provide MORE tax cuts. so your efforts to paint him as tax and spend don't wash, period.

    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.
    Don't believe the liberal rhetoric and look at the facts at bea.gov and the U.S. treasury department. Don't look at figures from 2007-2009 because Bush had absolutely no control of anything and Democrats ran congress. Also don't look at 2000-2003, because that's when Clinton had just left office and although there was a $236 billion surplus there was a small recession and we all know its impossible to recover from a recession in only three years after taking office (Except for of course Obama, he should have been able to do it.)

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

    Quote Originally Posted by Conservative View Post
    being factually accurate? your comments speak for themselves.
    I know. They are factual accurate. And the logic is sound. I can help you if you want. Just send me a message and I'll gladly try and help.

    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 liblady View Post
    what you fail to note is that the bush tax cuts are still in place, and obama has done nothing but provide MORE tax cuts. so your efforts to paint him as tax and spend don't wash, period.
    Obama put a policy in place that scares the hell out of employers and we have 16 million unemployed people that aren't paying full taxes. With the Bush tax cuts you are still getting benefit if you are working. You seem to have a problem with that, why? As for Obama tax and spend, I don't have to say a thing, only point to the record, a record that you want to ignore.

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

    Quote Originally Posted by McCain2012 View Post
    Don't believe the liberal rhetoric and look at the facts at bea.gov and the U.S. treasury department. Don't look at figures from 2007-2009 because Bush had absolutely no control of anything and Democrats ran congress. Also don't look at 2000-2003, because that's when Clinton had just left office and although there was a $236 billion surplus there was a small recession and we all know its impossible to recover from a recession in only three years after taking office (Except for of course Obama, he should have been able to do it.)
    LOLOLOL! blame clinton, not bush.....blame obama, not bush.

    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 McCain2012 View Post
    Don't believe the liberal rhetoric and look at the facts at bea.gov and the U.S. treasury department. Don't look at figures from 2007-2009 because Bush had absolutely no control of anything and Democrats ran congress. Also don't look at 2000-2003, because that's when Clinton had just left office and although there was a $236 billion surplus there was a small recession and we all know its impossible to recover from a recession in only three years after taking office (Except for of course Obama, he should have been able to do it.)
    In 2007-2009, taxes were not raised. I'm sorry, but you're not thinking it through. You're looking through partisan blinders and not looking at history.

    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 liblady View Post
    LOLOLOL! blame clinton, not bush.....blame obama, not bush.
    um...i just realized you were joking.

    Originally Posted by johnny_rebson:

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


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