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wehav
Senior Contributor

A look back.

http://theconservativetreehouse.com/2014/11/05/dubya-the-fair-context-and-seven-years-without-a-fede... 

 

"According to the OMB’s own figures, the Bush tax cuts resulted in an explosion of revenue to the U.S. government. Get that? The government’s own non-partisan accounting office state unequivocally the Jobs and Growth Tax Relief Reconciliation Act of 2003 brought more revenue into the treasury (look at chart). That’s not to say Bush wasn’t a profligate spender, he was; and that is where a lot of fiscal conservatives became extremely angry with Dubya. But in virtually no cases were Democrats arguing that he spend less (unless you count national security)."

 

"January 3rd, 2007 was also the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee. The economic meltdown that happened 15 months later was in what part of the economy? BANKING AND FINANCIAL SERVICES !"

 

"Democrats dumped 5-6 TRILLION Dollars of toxic loans on the economy from Fannie Mae and Freddie Mac FIASCOS! (By the way: Bush asked Congress 17 TIMES to stop Fannie & Freddie – starting in 2001 because it was financially risky for the US economy).

And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac? Senator Barack Obama. And who fought against reform of Fannie and Freddie? Senator Barack Obama and the Democratic Congress."

7 Replies
BA Deere
Honored Advisor

Re: A look back.

If 9/11 had never happened and the wars with the drag on the economy.  George W Bush would`ve went down in history as one of our best presidents.  Because times were pretty darn good under Bush, other than that Democrat supported war.

 

We see Burger King going "John Galt" they can`t compete with others that run to escape taxes.  The Laffer Curve, lower tax rates (to a point) = More Revenue.

r3020
Senior Advisor

Re: A look back.

Can't have people taking care of themselves, they then have no need for progressives, and without a need for them and the paycheck that comes with that need, progressive can't live like kings using someone elses money.

schnurrbart
Veteran Advisor

Re: A look back.

Not that old less makes more crap again???? (groan)
gough whitlam
Senior Contributor

Re: A look back.

Brian. The economics of the right on here is similar to constant recession. Anything which is good or stimulating for the economy is immediately poo pooed because it might resemble creeping socialism and the big end of town might have to sacrifice profits so the poor might get something.

It was called reaganomics. This is classic back to the future stuff.
OKdon
Senior Contributor

Re: A look back.

Where you make your mistake is in assuming that tax cuts are the driver of increased revenues. The turth is if he had raised taxes iit may have well brought in even more revenues. Like youshutting down a hog production facility and your income is increased because of grain prices. In fact your hog facilities may well have increased revenues even with the higher grain prices.

 

One thing I've notic that repubs take cedits for revenue increases no matter when they occur. The reagan tax cuts were credited for the Clinton Boom and it the revenues increased during the Bush one era they wouldhave credited Reagan for that one as well. 

 

There is one thing that is absolutely true. Once the reagan tax cuts were passed we grew into a spiral of deficit spending. Their was a come back dring the clinton era due to some tax increases and then it was all crappola again when Bush2 cut taxes again. And the debt spiral hs continued ever since because the rabid right refused to have the temporary tax cuts expire.

 

 

 

 

JacobMcCandless
Senior Contributor

Re: A look back.

Bowl 'o' crappola, I don't remember anyone cutting taxes yet, just raising them.  Although bush sent out checks for $300, I didn't get mine.

wehav
Senior Contributor

Re: A look back.

A lot of you have never been in business nor had an economics class given by a successful business person. 

 

Your logic of higher taxes mean more money for the government has two flaws, first and most odious is that government when it gets more money simply wastes it and decreases the value of your money.

Second, applying your flawed logic every business should raise their prices so as to increase profits, because that's what you are saying about taxes.  If we increase taxes the government will have more revenue.  It ignores the common result which business moves overseas, reduces employees and cuts benefits, all of which reduce the overall income for the government.

At another point workers refuse to work overtime or holidays as it seems to them they aren't getting the benefits of their labor as taxes eat up the majority of their increased income. 

I don't know of too many people that would suggest no tax, though I know that's a popular characterization of conservatives by the extremists on the left, but there currently is no advantage to increasing taxes and taxing people below a certain income level is counter productive.