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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?

    The GOP can't ride a one trick pony to the WH, especially if it is no longer a pony, and now is just an old horse that they keep beating, and beating, and beating. It's dead, already, get a new pony....

    Tax cuts isn't THE answer, there is no such thing as THE answer.
    When I get GOP propaganda in the mail asking for donations, and it says nothing but how badly Obama is doing, with no GOP ideas to counter what the DEMS are doing, it doesn't inspire me to donate to the GOP, or vote GOP.
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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by buck View Post
    PPS. I just checked the stock market performance during the 2001 recession, and it was not going up. nice try, though.
    I didn't say the stock market was going up during the 2001 recession, I said that the stock market was still sky high at the end of 2000. I didn't even imply that, I overtly said it. So if Bush inherited Clinton's recession in 2001, then surely Obama inherited Bush's recession in 2009?

    And if Bush's tax cuts shortened the length of the recession that started in 2001, why did everything continue to get worse and worse during the last years of his administration? Bush did absolutely nothing to prevent the housing crisis. Clinton's administration started that mess by using the executive branch to force sub-prime loans and Bush kept it going throughout his years.

    All this "cause and effect" is grossly oversimplifying the matter. The economy is extremely complex. So I'd say to the OP -- it's very possible that Bush's tax cuts had limited effect on the economy. But it's hard to compare the results to a hypothetical scenario that assumes the simplest possible set of circumstances. And I'd say to those attacking the OP -- it seems like you don't actually care about whether or not tax cuts work. It seems like your stance is that the big bad government wants to take your money away and whatever is best for you in the short term is what they should do. And I think that stance is a lousy one.
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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by Mustachio View Post
    I didn't say the stock market was going up during the 2001 recession, I said that the stock market was still sky high at the end of 2000. I didn't even imply that, I overtly said it.
    You said the stock market was soaring and remained there until 9/11. That's not true. The stock market dropped during the March 2001 recession, which was before 9.11. I assume that you are at least conceding that the tax cuts were in response to the coming recession? That's a start.

    So if Bush inherited Clinton's recession in 2001, then surely Obama inherited Bush's recession in 2009?
    Umm. Of course. Was there a question on this? Is there someone, anywhere, that claims Obama didn't inherit a recession from Bush? If so, simply point them to the NBER data on recessions. You can make an argument that Obama's policies have kept us in this mess a bit longer then it should have been (by creating uncertainty and with his policies). In fact, I recall that there were many green shoots coming up. The economy was starting to look up. Then, blam. But to make an argument that the recession wasn't inherited from Bush? Crazy!

    And if Bush's tax cuts shortened the length of the recession that started in 2001, why did everything continue to get worse and worse during the last years of his administration?
    Many reasons. But, since we are discussing this topic, are you suggesting that the economy fell apart due to tax cuts?

    Bush did absolutely nothing to prevent the housing crisis. Clinton's administration started that mess by using the executive branch to force sub-prime loans and Bush kept it going throughout his years.
    The Bush admin did call attention to the coming housing crisis in 2007, I believe. However, wether he did anything to prevent the housing crisis isn't the topic of the op. The topic was that the tax cuts caused X, Y, and Z. However, the tax cuts didn't cause those things. Those things were caused by an inherited recession, made worse by 9.11 and a housing bubble that was neither inflated nor deflated by tax cuts.
    Last edited by buck; 10-10-10 at 08:53 PM.

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

    Quote Originally Posted by UtahBill View Post
    The GOP can't ride a one trick pony to the WH, especially if it is no longer a pony, and now is just an old horse that they keep beating, and beating, and beating. It's dead, already, get a new pony....

    Tax cuts isn't THE answer, there is no such thing as THE answer.
    When I get GOP propaganda in the mail asking for donations, and it says nothing but how badly Obama is doing, with no GOP ideas to counter what the DEMS are doing, it doesn't inspire me to donate to the GOP, or vote GOP.
    When the dead horse is better than anything the Democrats call "new ideas", the dead horse is obviously better. What the Dems are doing is killing this country --- call me crazy but when a choice is a dead horse or a dead country, I'll pick the horse every time.
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed agree with it. He would agree that the First Amendment cannot be absolute. - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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

    Quote Originally Posted by Ockham View Post
    When the dead horse is better than anything the Democrats call "new ideas", the dead horse is obviously better. What the Dems are doing is killing this country --- call me crazy but when a choice is a dead horse or a dead country, I'll pick the horse every time.
    So you'd be fine with voting for a Party that will actually cut jobs? Or more likely go back to spend and borrow? How is the dead horse of spend and borrow and loosen regulation to the point where Dracula is watching the blood bank better?

    Neither the GOP nor the Dems have the answers. Stop pretending one is better then the other.

    People have this asinine notion that the GOP will actually make cuts (especially with Boehner and McConnell at the helm). Too bad that the GOP has shown it will fight tooth and nail to stop Obama and Democrats from making spending cuts that cause job losses in their districts. The idea that the GOP in power will actually cut their own voters' jobs is ludicrous. It's all fun and games until it's my district.
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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by Ockham View Post
    When the dead horse is better than anything the Democrats call "new ideas", the dead horse is obviously better. What the Dems are doing is killing this country --- call me crazy but when a choice is a dead horse or a dead country, I'll pick the horse every time.
    The country is sick, perhaps, but not dying. Well, maybe New Jersey is dying, we can't tell. It has smelled dead for decades.
    and what the DEMS are doing is pretty much what the GOP would have done, fail....proving that govt is not all powerful and has no magic wands.
    The economy has always recovered before, this recession may last longer but it will be over.
    When that happens, we can all go back to living beyond our means at home, in govt, everywhere, til another Wall Street debacle occurs, proving that we haven't learned anything.
    We need a pack of wild dog lawyers rooting out the criminals on Wall Street, and in congress, and then MAYBE we will have a few decades of prosperity...
    Last edited by UtahBill; 10-10-10 at 11:34 PM.
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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by UtahBill View Post
    The country is sick, perhaps, but not dying. Well, maybe New Jersey is dying, we can't tell. It has smelled dead for decades.
    and what the DEMS are doing is pretty much what the GOP would have done, fail....proving that govt is not all powerful and has no magic wands.
    The economy has always recovered before, this recession may last longer but it will be over.
    When that happens, we can all go back to living beyond our means at home, in govt, everywhere, til another Wall Street debacle occurs, proving that we haven't learned anything.
    We need a pack of wild dog lawyers rooting out the criminals on Wall Street, and in congress, and then MAYBE we will have a few decades of prosperity...
    I love the populist hatred of wall street. sure, some of the big wheels on wall street are crooks, just like some of the politicians are.

    but the biggest problem in this country are those who think others have a duty to take care of them.



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

    Quote Originally Posted by zimmer View Post
    But... Clinton also pushed (with Cuomo) the financial disaster of the last half-century. Forcing banks to provide loans for houses to people that couldn't afford them. These are Clinton's coattails... a wee bit different from Reagan's..
    Baloney! If you talking about the Community Reinvestment Act (CRA) that's been law since 1977 and is there to prevent redling and it didn't force banks to take risky loans. And it didn't involve the large commercial banks; only the small community ones.


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

    Quote Originally Posted by JakeFromWI View Post

    "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?
    I have to agree. The Bush tax cuts didnt do much to help anyone but the wealthy. I would like to see FACTUAL evidence that it was a positive move by Bush.
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    Re: So How Did the Bush Tax Cuts Work Out for the Economy?

    Quote Originally Posted by TurtleDude View Post
    I love the populist hatred of wall street. sure, some of the big wheels on wall street are crooks, just like some of the politicians are.

    but the biggest problem in this country are those who think others have a duty to take care of them.
    You mean wall street then?
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