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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 FilmFestGuy View Post
    So Reagan took credit for the fact that the unemployment rate went from 6.7% when he entered office to 10.8% by November, 2012?

    Some quotes from The Gipper himself:



    Source
    The Reagan Results speak for themselves, 17 million jobs created, double the GDP, double revenue to the federal govt. with a 25% tax cut. that led to the biggest landslide in American political history. Reagan implemented a pro growth, pro business, pro American consumer economic policy. Obama has done the exact opposite. We shall see if Obama can generate the same results in the next two years and it appears he will have to do it with a GOP Majority in the House and maybe the Senate. It does seem that the American voters are not as enthralled with Obama as some here seem to be.

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

    Quote Originally Posted by Conservative View Post
    The Reagan Results speak for themselves, 17 million jobs created, double the GDP, double revenue to the federal govt. with a 25% tax cut. that led to the biggest landslide in American political history. Reagan implemented a pro growth, pro business, pro American consumer economic policy. Obama has done the exact opposite. We shall see if Obama can generate the same results in the next two years and it appears he will have to do it with a GOP Majority in the House and maybe the Senate. It does seem that the American voters are not as enthralled with Obama as some here seem to be.
    The sad thing is liberals refuse to recognize this because they pay attention to the negative aspects of his policies.

    "Reagan's tax policies pushed both the international transactions current account and the federal budget into deficit and led to a significant increase in public debt. National debt more than tripled from 900 billion dollars to 2.8 trillion dollars during Reagan's tenure. Advocates of the Laffer curve problematically contend that the tax cuts did lead to a near doubling of tax receipts ($517 billion in 1980 to $1.032 trillion in 1990)[37], so that the deficits were actually caused by an increase in government spending. However, an analysis from the Center on Budget and Policy Priorities argues that "history shows that the large reductions in income tax rates in 1981 were followed by abnormally slow growth in income tax receipts, while the increases in income-tax rates enacted in 1990 and 1993 were followed by sizeable growth in income-tax receipts." Specifically, the analysis calculated that the average annual growth rate of real income-tax receipts per working-age person was 0.2% from 1981 to 1990 and a much higher 3.1% from 1990 to 2001.[38] In 1982, during Reagan's second year in office, the U.S. economy fell into a recession. An accurate accounting indicates that receipts increased from $599 billion in 1981 to $1.032 trillion in 1990, an increase of 72% (hardly a doubling of receipts). In 2005 dollars, the receipts decreased from $1.25 trillion in 1981 to $1.13 trillion in 1983 and did not return to $1.25 trillion until 1985. The receipts in 1990 were $1.5 trillion in 2005 dollars, an increase of only 20%.[39]In contrast, from 1991 to 2000, receipts increased by 90% in current dollars, or 60% in 2005 dollars."

    Reaganomics - Wikipedia, the free encyclopedia

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

    Quote Originally Posted by Conservative View Post
    The Reagan Results speak for themselves, 17 million jobs created, double the GDP, double revenue to the federal govt. with a 25% tax cut. that led to the biggest landslide in American political history. Reagan implemented a pro growth, pro business, pro American consumer economic policy. Obama has done the exact opposite. We shall see if Obama can generate the same results in the next two years and it appears he will have to do it with a GOP Majority in the House and maybe the Senate. It does seem that the American voters are not as enthralled with Obama as some here seem to be.
    Reagan created 2 million jobs per year, however Carter created 2.6 million job per year and Clinton created 2.9 million jobs per year. see details at link in my sig.


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

    Quote Originally Posted by pbrauer View Post
    Reagan created 2 million jobs per year, however Carter created 2.6 million job per year and Clinton created 2.9 million jobs per year. see details at link in my sig.
    Carter didn't inherit a 20+ misery index. "Your" President has lost 4 million jobs in two years.

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

    Quote Originally Posted by JakeFromWI View Post
    A MUST READ. Don't even read the opinions. Look at the empirical facts. Look at the numbers and tell me Pelosi did all this....

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

    Here's a short paragraph to give you an idea what economist/professor/pulitzer prize winner David Cay Johnston concludes of the Bush tax cuts.

    "The tax cuts did not spur investment. Job growth in the George W. Bush years was one-seventh that of the Clinton years. Nixon and Ford did better than Bush on jobs. Wages fell during the last administration. Average incomes fell. The number of Americans in poverty, as officially measured, hit a 16-year high last year of 43.6 million, though a National Academy of Sciences study says that the real poverty figure is closer to 51 million. Food banks are swamped. Foreclosure signs are everywhere. Americans and their governments are drowning in debt. And at the nexus of tax and healthcare, Republican ideas perpetuate a cruel and immoral system that rations healthcare -- while consuming every sixth dollar in the economy and making businesses, especially small businesses, less efficient and less profitable."

    Obama's fault what?
    Quite frankly, this is all irrelevant. It's not a question of how well they worked, but whether the government has a right to the money. It is our money, we earned it. The assumption that the govt is giving us our money is ludicrous to begin with, and is key to understanding the perspective of the left. The left see money as belonging to the govt, to be given out amongst the peasants as it sees fit.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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

    Quote Originally Posted by American View Post
    Quite frankly, this is all irrelevant. It's not a question of how well they worked, but whether the government has a right to the money. It is our money, we earned it. The assumption that the govt is giving us our money is ludicrous to begin with, and is key to understanding the perspective of the left. The left see money as belonging to the govt, to be given out amongst the peasants as it sees fit.
    Exactly. I don't care if this country goes to hell in a hand basket, or if the economy turns into Greece, the government doesn't have a right to my money. And don't give me that crap about cutting military spending, we need to cut welfare. I actually think military spending should be increased so we can go to Iran and North Korea and restore our combat mission in Iraq. Our tax dollars should go to setting these people free from their tyrannical regimes, not to providing housing and health care for Americans.

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

    Quote Originally Posted by McCain2012 View Post
    Exactly. I don't care if this country goes to hell in a hand basket, or if the economy turns into Greece, the government doesn't have a right to my money. And don't give me that crap about cutting military spending, we need to cut welfare. I actually think military spending should be increased so we can go to Iran and North Korea and restore our combat mission in Iraq. Our tax dollars should go to setting these people free from their tyrannical regimes, not to providing housing and health care for Americans.
    Who sent you? CC?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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

    Quote Originally Posted by American View Post
    Who sent you? CC?
    JM & SP


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

    Quote Originally Posted by McCain2012 View Post
    Exactly. I don't care if this country goes to hell in a hand basket, or if the economy turns into Greece, the government doesn't have a right to my money. And don't give me that crap about cutting military spending, we need to cut welfare. I actually think military spending should be increased so we can go to Iran and North Korea and restore our combat mission in Iraq. Our tax dollars should go to setting these people free from their tyrannical regimes, not to providing housing and health care for Americans.
    Take care of your own, then worry about everyone else.

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

    Quote Originally Posted by McCain2012 View Post
    Exactly. I don't care if this country goes to hell in a hand basket, or if the economy turns into Greece, the government doesn't have a right to my money. And don't give me that crap about cutting military spending, we need to cut welfare. I actually think military spending should be increased so we can go to Iran and North Korea and restore our combat mission in Iraq. Our tax dollars should go to setting these people free from their tyrannical regimes, not to providing housing and health care for Americans.
    The heart and soul of a conservative Republican. Pretty sad.


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