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Were the Bush Tax Cuts Good for Growth?

Conservative said:
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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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
 
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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)
 
Conservative said:
What will that 2.8% rate be revised to in 2013 dollars?
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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.
 
Simon W. Moon said:
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.
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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?
 
Conservative said:
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?
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Wouldn't it be cool if there was someway to calculate the value/buying power of the dollar amounts and then we could compare the actual value/buying power from different years to one another?
Conservative said:
What was the inflation rate by year that you are adjusting the percentage change by but not the GDP numbers?
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I did no adjusting of anything. The numbers are verbatim quotes from the BEA. I am sure that they provide their methodology as to exactly how their numbers are derived.
 
Were the Bush Tax Cuts Good for Growth?.

--Record Low Unemployment
--Record High Stock Market
--A Record 52 Months Continual Job Growth
--Record High Tax Revenue

........after the Bush Tax Cuts.

The answer is of course YES......because every and any tax cut is good for growth.

100% effective tax rate = No Growth....
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Badmutha said:
Were the Bush Tax Cuts Good for Growth?.

--Record Low Unemployment
--Record High Stock Market
--A Record 52 Months Continual Job Growth
--Record High Tax Revenue

........after the Bush Tax Cuts.

The answer is of course YES......because every and any tax cut is good for growth.

100% effective tax rate = No Growth....
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tax cuts plus increased spending equals increased national debt.....so tax cuts are not always a good thing. GWB tried to have tax cuts while funding his own personal war in Iraq.....stupid, stupid, stupid...
 
UtahBill said:
tax cuts plus increased spending equals increased national debt.....so tax cuts are not always a good thing. GWB tried to have tax cuts while funding his own personal war in Iraq.....stupid, stupid, stupid...
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wrong-its the increased spending that caused the trouble

its like saying reading the bible and getting stoned is bad because you got into an car wreck after doing both and blaming bible study for your destroyed car.
 
TurtleDude said:
wrong-its the increased spending that caused the trouble

its like saying reading the bible and getting stoned is bad because you got into an car wreck after doing both and blaming bible study for your destroyed car.
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Increasing spending provided you have the revenue does not generally cause a problem. Increasing spending while decreasing revenue will. The two go hand in hand in deficit or surplus generation.

Yo
 
Lord Tammerlain said:
Increasing spending provided you have the revenue does not generally cause a problem. Increasing spending while decreasing revenue will. The two go hand in hand in deficit or surplus generation.

Yo
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a tax system that allows the many to demand more spending without having to pay for it is the problem
 
UtahBill said:
tax cuts plus increased spending equals increased national debt.....so tax cuts are not always a good thing. GWB tried to have tax cuts while funding his own personal war in Iraq.....stupid, stupid, stupid...
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Well if you move the goal posts......

Tax Cuts.....as in more money in the hands of Businesses and Consumers.....has never been a detriment to economic growth.

Government spending on the other hand.....is a different story.
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Badmutha said:
Well if you move the goal posts......

Tax Cuts.....as in more money in the hands of Businesses and Consumers.....has never been a detriment to economic growth.

Government spending on the other hand.....is a different story.
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cutting taxes on those who don't pay enough only encourages them to vote for more spending

libs want more government so they want a system where their leaders can win elections by promising the masses more stuff that the masses won't suffer additional taxation to pay for. when someone points out that such spending blows up the deficit, the libs say they will tax the rich more

until the vast majority of people suffer tax increases when government spends more there will be no end to more and more government
 
TurtleDude said:
wrong-its the increased spending that caused the trouble

its like saying reading the bible and getting stoned is bad because you got into an car wreck after doing both and blaming bible study for your destroyed car.
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Yep, one war too many, combined with two ill-advised, non funded
Tax Cuts, have been known to be ....stupid, stupid, stupid...
 
donc said:
Yep, one war too many, combined with two ill-advised, non funded
Tax Cuts, have been known to be ....stupid, stupid, stupid...
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How much do you charge yourself.......to keep your own money?
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donc said:
Yep, one war too many, combined with two ill-advised, non funded
Tax Cuts, have been known to be ....stupid, stupid, stupid...
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tax cuts don't need funding-they are not spending

try again
 
Badmutha said:
How much do you charge yourself.......to keep your own money?
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there seems to be an attitude among the welfare socialists that all money belongs to the government first
 
Badmutha said:
How much do you charge yourself.......to keep your own money?
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I dont charge myself anything,

The bank charges me money for the mortgages that I have, the gas company charges me money to buy gas, the electricity company charges me money to be able to use this computer, the governments charges me money for the various goods and services they provide
 
TurtleDude said:
tax cuts don't need funding-they are not spending

try again
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When you cut revenue back,while increasing expenses(Iraq) something’s got to give.Debt with China holding the nut.
 
donc said:
When you cut revenue back,while increasing expenses(Iraq) something’s got to give.Debt with China holding the nut.
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another reason why we need judges to enforce the tenth amendment
 
Lord Tammerlain said:
I dont charge myself anything,

The bank charges me money for the mortgages that I have, the gas company charges me money to buy gas, the electricity company charges me money to be able to use this computer, the governments charges me money for the various goods and services they provide
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Yes.....did you notice those charges are all the results of your FREE CHOICE.......

........well except the last one anyways. Unless your electric company sends men with guns to your door if you decide not to purchase their product.
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Badmutha said:
Yes.....did you notice those charges are all the results of your FREE CHOICE.......

........well except the last one anyways. Unless your electric company sends men with guns to your door if you decide not to purchase their product.
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are you off the grid? or have you found a way to post here without electricity? you have free choice, produce your own gas and electricity, just be sure you follow all the govt rules and regulations, like don't dump your waste products in your yard where it can get into the community water supply.
 
donc said:
Yeh,sure,when all else fails resort to the Balkanization of America.:roll:
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actually that is one of the strategies of the left-things like affirmative action, progressive income taxes and other tools to divide people
 
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