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Thread: Were the Bush Tax Cuts Good for Growth?

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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Simon W. Moon View Post
    Here's the chart where I got the 2.8%

    U.S. Department of Commerce. Bureau of Economic Analysis
    Titled:
    Table 1.1.1. Percent Change From Preceding Period in Real Gross Domestic Product
    Code:
    2001	2002	2003	2004	2005	2006	2007	2008	2009	2010
    1.1	1.8	2.5	3.6	3.1	2.7	1.9	0	-2.6	2.8
    Good, I used real dollars captured by BEA and calculated the actual percentage change. I prefer actual dollars because that is what generates revenue, not percentage change.

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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Conservative View Post
    Good, I used real dollars captured by BEA and calculated the actual percentage change. I prefer actual dollars because that is what generates revenue, not percentage change.
    And yet your numbers do not match the above numbers

    I know why and understand why do you?

    Your numbers are not being adjusted for inflation, the ones by Simon W. Moon are. The numbers presented by Simon W. Moon reflect real economic growth rather then "growth through inflation"

    Use your methodology and review the 1970s. You will see how good the Carter years were
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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Conservative View Post
    My numbers are using the same numbers that the media reported when it stated that Obama's economic growth was 2.8%. My numbers match that report.

    Nah, not going to correct your math. Enjoy watching you do your morning calisthenics of shoving the goalpost around though.
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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Lord Tammerlain View Post
    And yet your numbers do not match the above numbers

    I know why and understand why do you?

    Your numbers are not being adjusted for inflation, the ones by Simon W. Moon are. The numbers presented by Simon W. Moon reflect real economic growth rather then "growth through inflation"

    Use your methodology and review the 1970s. You will see how good the Carter years were
    So what you are saying is that in a few years the 2010 GDP percentage change will be reduced as applied to that year's dollars? Got it and why I don't care about percentage change in any comparison.

    What will that 2.8% rate be revised to in 2013 dollars?

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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by donc View Post
    Nah, not going to correct your math. Enjoy watching you do your morning calisthenics of shoving the goalpost around though.
    Translation: I cannot refute the math therefore I will continue to troll.

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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Conservative View Post
    So what you are saying is that in a few years the 2010 GDP percentage change will be reduced as applied to that year's dollars? Got it and why I don't care about percentage change in any comparison.

    What will that 2.8% rate be revised to in 2013 dollars?
    The year that the dollars are adjusted to does not matter.

    The 2.8% value is the inflation adjusted value and will not change due to future years inflation as it is only effected by that years inflation value

    What tends to happen is that the GDP value is either adjusted upwards or downwards after a few month ( 6 months is not uncommon)

    So the only way the 2.8% value will be changed is if the BEA adjusts the GDP value for the US for 2010, or it adjusts the inflation rate for the year 2010.


    Or more to the point

    Using your methodology the Zimbabwe(sp) economy is booming because measured in Zimbabwe dollar its economy has grown by a few thousand % a year
    Last edited by Lord Tammerlain; 03-09-11 at 02:13 PM.
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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Conservative View Post
    Translation: I cannot refute the math therefore I will continue to troll.

    Not trolling when I point out how you…distort,shift and divert.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: Were the Bush Tax Cuts Good for Growth?

    Some amazing GDP growth rates from the 70s

    Q1 1977
    1,938.5
    Q1 1978
    2,149.

    An amazing 10.8% GDP growth rate for Carter

    In fact groth rates for the Carter admin was constantly above 8%

    (using conservatives methodology)
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    Re: Were the Bush Tax Cuts Good for Growth?

    Quote Originally Posted by Conservative View Post
    What will that 2.8% rate be revised to in 2013 dollars?
    2.8%
    That's the point. That's what it means for this kind of data to be adjusted for inflation. That's why it's a more useful comparison than the raw dollar amounts.
    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
    2.8%
    That's the point. That's what it means for this kind of data to be adjusted for inflation. That's why it's a more useful comparison than the raw dollar amounts.
    I'll take real dollars anytime because real dollars in 2001 for example purchased items in 2001 and not in 2010. Doesn't matter as everything is relevant. Those that like to use inflation adjusted numbers do so only when it makes their argument look good. Actual dollars is all that matters at the time. Obama's numbers in 2010 were created with 2010 dollars in GDP so how are you going to compare those numbers to say 2015 GDP numbers? What was the inflation rate by year that you are adjusting the percentage change by but not the GDP numbers?

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