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Thread: umm .. it appear's that Bush's tax cuts are working !

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    Banned Melonie's Avatar
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    Default umm .. it appear's that Bush's tax cuts are working !

    you won't see this reported on CNN of course !

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    God/dess NinaDaisy's Avatar
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    Default Re: umm .. it appear's that Bush's tax cuts are working !

    So were supposed to pat Bush on the back for slightly lowering the deficit on one year after BLOWING A SURPLUS that was created under Clinton after HE fixed Bush Sr.'s deficit?!?!

    To paraphrase Mugatu in "Zoolander": "I feel like I'm taking crazy pills!"

    Unbelievable...yeah, uh, break out the streamers! Whatever.
    "She has written so well, and marvellously well, that I was completely ashamed of myself as a writer...But this girl, who is to my knowledge very unpleasant and we might even say a high-grade bitch, can write rings around all of us who consider ourselves as writers"

    Ernest Hemingway on writer, aviation pioneer and horse trainer Beryl Markham


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    tampafldancer
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    Default Re: umm .. it appear's that Bush's tax cuts are working !

    Be happy!!!

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    Banned Melonie's Avatar
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    Default Re: umm .. it appear's that Bush's tax cuts are working !

    ahhh ... revisionist history ...

    let's not forget that major revenue shortfalls occurred during Bush's first years in office because tax receipts from capital gains dropped off the map as a result of a stock market bubble burst which was caused by Clinton's economic policies and which was well underway before Clinton left office.

    let's also not forget that major revenue shortfalls occurred during Bush's first years in office as a slowing economy plus the rising employer costs of local taxes, medicaid/social program taxes, comp & unemployment insurance premiums etc. (which grew significantly in the last years of the Clinton administration) cut into corporate profits and blue collar pay raises - not to mention the corporate decisions to export US jobs overseas to control costs, which were made during the Clinton administration, actually began to happen in force during the first Bush years.

    Of course GWB could have also reduced the deficit by NOT taking any action against Islamic terrorists in Afghanistan and Iraq, and settling for firing a few cruise missles at arab tents the way Clinton did - instead of taking on the serious commitment (and the necessary billions of dollars in new costs) to actually improve the security of US citizens and actually take some islamic terrorists out of circulation.

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    God/dess Deogol's Avatar
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    Default Re: umm .. it appear's that Bush's tax cuts are working !

    Quote Originally Posted by Melonie
    you won't see this reported on CNN of course !
    This is more the abberation and anecdote than the pattern.

    We ALL are still up to our eyeballs in debt - fiscal, trade, and consumer.

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    Veteran Member myssi's Avatar
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    Default Re: umm .. it appear's that Bush's tax cuts are working !

    In regards to Clinton's fix for Bush Sr.'s deficit: Note that Bush Sr. had to spend $100 Billion to
    fix the S&L crisis. Also note that both Bush Sr. and Reagan in his second term raised taxes
    in addition to Clinton's various tax increases (he added 4.6 cents per gallon for 'deficit reduction'
    in addition to the forty cents we pay for the highway trust fund, more telecom and cable taxes,
    not to mention huge income tax increases and higher payroll tax max-outs)... so Clinton
    had the benefit of enormous tax revenues coming in to balance the budget...of course it only
    really got balanced after the other party took over Congress in 1994 and exercised some
    spending restraint... Reagan didn't have the benefit of that... Congress promised to cut
    spending if only taxes were raised...guess what, we got the tax increase but no spending cuts.
    (By cuts I mean only decreases in future planned spending increases... not absolute cuts,
    but relative decreases.) So if that's the way the ledger was balanced, I rather not have it
    balanced. It finally all came crashing down by the time GWB got into office... so now we need
    to get smart about economics, and not just party. At least we don't have 'misery index'
    Carternomic hyper inflation and sky high interest rates.

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    God/dess NinaDaisy's Avatar
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    Default Re: umm .. it appear's that Bush's tax cuts are working !

    Quote Originally Posted by myssi
    In regards to Clinton's fix for Bush Sr.'s deficit: Note that Bush Sr. had to spend $100 Billion to
    fix the S&L crisis.
    How much of that helped to bail out Neil Bush?
    "She has written so well, and marvellously well, that I was completely ashamed of myself as a writer...But this girl, who is to my knowledge very unpleasant and we might even say a high-grade bitch, can write rings around all of us who consider ourselves as writers"

    Ernest Hemingway on writer, aviation pioneer and horse trainer Beryl Markham


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