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

Boo Radley said:
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.
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Then tell that to Obama who thinks Govt. is the answer.
 
McCain2012 said:
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.
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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.
 
Boo Radley said:
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.
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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.
 
Boo Radley said:
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.
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Why are you so passionate about taxes and taking more from the American people?
 
liblady said:
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.
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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.
 
Conservative said:
Why are you so passionate about taxes and taking more from the American people?
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Passionate? Just passionate about being factually accurate. I think that is a good thing. ;)
 
liblady said:
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.
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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. :sigh:
 
Conservative said:
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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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.
 
Boo Radley said:
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.
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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.)
 
Conservative said:
being factually accurate? your comments speak for themselves.
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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. ;)
 
liblady said:
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.
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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.
 
McCain2012 said:
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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LOLOLOL! blame clinton, not bush.....blame obama, not bush.
 
McCain2012 said:
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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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.
 
Boo Radley said:
Kind of funny isn't. :sigh:
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boo...you are arguing with people who would blame 9-11 on obama if they could, and mt. saint helen's eruption, and pearl harbor. and boll weevils.
 
liblady said:
boo...you are arguing with people who would blame 9-11 on obama if they could, and mt. saint helen's eruption, and pearl harbor. and boll weevils.
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Sadly, I know. Sadly. :sigh:
 
liblady said:
boo...you are arguing with people who would blame 9-11 on obama if they could, and mt. saint helen's eruption, and pearl harbor. and boll weevils.
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good god, NOT BOLL WEEVILS!!! ANYTHING BUT BOLL WEEVILS!!! NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!! heh heh heh
 
liblady said:
boo...you are arguing with people who would blame 9-11 on obama if they could, and mt. saint helen's eruption, and pearl harbor. and boll weevils.
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Gee, listening to liberals, Bush is still in the WH.
 
liblady said:
you can bet your ass that if he was, and our situation was the same, you'd still be blaming obama.
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that is typical liberal rhetoric, IF Bush was still in the WH Obama would still be campaigning instead of doing his job as Senator and still having people like you fainting listening to him.

Can you explain to me how Obama won an election with 52% of the vote and today has an approval rating of 38-42% losing 10-14% of his base? Apparently those people are getting it wrong and don't see it like you do.
 
UtahBill said:
Our tax rates are lower now than the last 50 or 60 years, and the economy sucks. How will making them lower change that?
The current mess needs JOBS, not tax cuts....
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is it your position that jacking them up will help

such actions won't help those of us who already pay 40% of the income taxes

our country became the greatest in the world with no or almost no income taxes

The Depression was accentuated by Hoover's tax hikes followed by FDR's tax hikes
 
Conservative said:
that is typical liberal rhetoric...Can you explain to me how Obama won an election with 52% of the vote and today has an approval rating of 38-42% losing 10-14% of his base? Apparently those people are getting it wrong and don't see it like you do.
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Don't let that liberal rhetoric bother you brother. They want to focus on Bush's rating when he left office which was lower than Obama's, and the fact that its one of the lowest approval ratings in history, but they don't take into consideration the fact that Obama has only been in office for two years. Give him six more years to mess the country up and his should be as low as Bush's was. Plus, around this time in Bush's presidency 9/11 happened, and history shows that approval ratings are lower after tragedies. Obama is instead dealing with the greatest recession since the Great Depression, and if I'm not mistaken, people usually rally behind their presidents during recessions. The approval ratings really reveal how "well" this president is doing.
 
McCain2012 said:
Don't let that liberal rhetoric bother you brother. They want to focus on Bush's rating when he left office which was lower than Obama's, and the fact that its one of the lowest approval ratings in history, but they don't take into consideration the fact that Obama has only been in office for two years. Give him six more years to mess the country up and his should be as low as Bush's was. Plus, around this time in Bush's presidency 9/11 happened, and history shows that approval ratings are lower after tragedies. Obama is instead dealing with the greatest recession since the Great Depression, and if I'm not mistaken, people usually rally behind their presidents during recessions. The approval ratings really reveal how "well" this president is doing.
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LOL, but Bush isn't in office and Bush didn't win the 2008 elections. This is about Obama, not Bush.Don't blame you from wanting to ignore that fact but you do a great job presenting the liberal lies as fact and do it in sarcastic way. I worked during the early 80's and I can tell you without a doubt there is no comparison between what Obama "inherited" compared to what Reagan inherited. Reagan knew what to do, Obama doesn't have a clue.

Obama approval ratings are based upon his results as his rhetoric has worn off.
 
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