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Thread: Were the Bush Tax Cuts Good for Growth?

  1. #191
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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Conservative View Post
    Not sure where someone comes up with Bush's annual growth at 2.39% because here are the actual numbers from BEA.gov. There is so much misinformation provided by liberals here that it is quite disturbing.

    GDP and Percentage change from previous year

    2001 10286.20 3.36%
    2002 10642.30 3.46%
    2003 11142.10 4.70%
    2004 11867.80 6.51%
    2005 12638.40 6.49%
    2006 13398.90 6.02%
    2007 14077.60 5.07%
    2008 14441.40 2.58%
    It does look quite a bit different when the BEA adjusts for inflation.
    U.S. Department of Commerce. Bureau of Economic Analysis

    Code:
    2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010
    4.1	1.1	1.8	2.5	3.6	3.1	2.7	1.9	0	-2.6	2.8
    I may be wrong.

  2. #192
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    Re: Were the Bush Tax Cuts Good for Growth?

    yeah, but now let's ask yourself if the number he gave for Obama's growth was adjusted for inflation, especially food and energy.
    Worth noting, Democrats: President Trump will have a Pen and a Phone. #Precedent.

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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Simon W. Moon View Post
    It does look quite a bit different when the BEA adjusts for inflation.
    U.S. Department of Commerce. Bureau of Economic Analysis

    Code:
    2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010
    4.1	1.1	1.8	2.5	3.6	3.1	2.7	1.9	0	-2.6	2.8
    If you adjust for inflation you have to do so with every year and every category of both expense and revenue. It is all relative including right now during the Obama years

  4. #194
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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by cpwill View Post
    yeah, but now let's ask yourself if the number he gave for Obama's growth was adjusted for inflation, especially food and energy.
    Why ask me?
    Let's just look at it.
    Which he are we talking about?
    Which number are we talking about?
    I may be wrong.

  5. #195
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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Conservative View Post
    If you adjust for inflation you have to do so with every year and every category of both expense and revenue. It is all relative including right now during the Obama years
    What are you suggesting? That the BEA didn't do their maths correctly? Or what?
    I may be wrong.

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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Simon W. Moon View Post
    What are you suggesting? That the BEA didn't do their maths correctly? Or what?
    Not at all, BEA is the most accurate site available and the one I use to verify rhetoric. Many use CBO and that is the least accurate especially for projections. I don't think anyone living during the period under review cared about the numbers adjusted for a future date. My point was that anyone that claims the Bush years were all bad is absolutely wrong and the best period was when the Republicans controlled both Houses of Congress.

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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Conservative View Post
    Not at all, BEA is the most accurate site available and the one I use to verify rhetoric. Many use CBO and that is the least accurate especially for projections. I don't think anyone living during the period under review cared about the numbers adjusted for a future date. My point was that anyone that claims the Bush years were all bad is absolutely wrong and the best period was when the Republicans controlled both Houses of Congress.
    Adjusting for inflation is not a projection. In point of fact, GDP growth is only really meaningful as a statistic if it is adjusted for inflation. Of course you kinda dodge around that and make another meaningless claim to evade all this.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

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    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

  8. #198
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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Conservative View Post
    Not at all, BEA is the most accurate site available and the one I use to verify rhetoric. Many use CBO and that is the least accurate especially for projections. I don't think anyone living during the period under review cared about the numbers adjusted for a future date. My point was that anyone that claims the Bush years were all bad is absolutely wrong and the best period was when the Republicans controlled both Houses of Congress.
    I am not sure that the BEA does any projections.
    The CBO is intentionally wrong. The CBO generally errs on the side of lower than expected income and higher than expected outgo--which to me, is a prudent way of forecasting as it's easier to figure out what to do w/ more money than expected than it is to figure out what to do with less money than expected..
    I may be wrong.

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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Redress View Post
    Adjusting for inflation is not a projection. In point of fact, GDP growth is only really meaningful as a statistic if it is adjusted for inflation. Of course you kinda dodge around that and make another meaningless claim to evade all this.
    You really have an obsession with me and a strong desire to prove me wrong as you always seem to focus on the specific post and not the one I was responding to. If you are going to adjust for inflation then do so across the board on revenue and all expenses not just the specific numbers that you seem to like. Let's adjust for inflation the 2.8% economic growth of Obama's last year. Does anyone really care whether or not the 14.6 trillion dollar GDP in 2010 is adjusted for inflation at some time in the future? I really don't care what the inflation rate was because If you notice the GDP numbers during the Bush years you will notice quite during the years of 2003-2007. Was inflation that much higher during that period of time than it was in 2001-2002 or 2007-2008?

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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Simon W. Moon View Post
    I am not sure that the BEA does any projections.
    The CBO is intentionally wrong. The CBO generally errs on the side of lower than expected income and higher than expected outgo--which to me, is a prudent way of forecasting as it's easier to figure out what to do w/ more money than expected than it is to figure out what to do with less money than expected..
    CBO is required by law to accept the assumptions given them by the Congress and not change those assumptions. CBO isn't intentionally wrong although the assumptions given to them are sometimes construed as intentionally wrong to generate results favorable to one party or the other. Both sides do it. BEA doesn't make projections they report results.

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