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Title: Obama's Big-time Deficit Reduction Speech
Source:
Neal Boortz
URL Source: http://www.boortz.com/weblogs/nealz ... time-deficit-reduction-speech/
Published: Apr 14, 2011
Author: Neal Boortz
Post Date: 2011-04-14 16:58:56 by CZ82
Keywords: None
Views: 4953
Comments: 7
Obama's Big-time Deficit Reduction Speech Neal Boortz First … this was not a serious policy speech. It was a campaign speech. It was exactly what you would expect from someone with no real world private sector experience and a penchant for flowery campaign rhetoric … little of which has any basis in reality. But here’s a real shocker .. are you ready? .. Barack Obama’s speech yesterday called for tax increases! Not just any tax increases but tax increases on evil, rancid, cheatin’, lying’ exploitin’ thievin’ rich people with all that money out there. You know, the owners of America’s small business who are responsible for most of our private sector jobs and those households with two achievers who’s income adds up to more than $250,000 a year; in other words … America’s millionaires and billionaires. The Community Organizer’s plan is supposed to cut $4 trillion from our deficit over the next 12 years .. that’s great. But wasn’t this same man telling us that he had a plan to cut our deficit in half by the end of his first term? What happened to THAT promise? Oh, that’s right .. I remember. George Bush must have done something to block Obama’s plans. Old “W” sneaked into the White House and somehow raised the deficit by well over a trillion dollars. Don’t you just hate it when that happens? The last deficit figure under George W. Bush was $410 billion in 2008. The projected 2011 deficit will be $1.645 trillion under Obama. What credibility does this guy have? And why is any serious consideration given to his next grand scheme for deficit reduction? But how does Obama plan to cut this money from our deficit. How else? He raises taxes on the rich! We will get to some of his specific calls for tax increases in a minute, but I want you to keep in mind one proven fact --- people with money are intelligent enough and perfectly willing to change their behavior when they are punished for their achievements with higher tax rates. I challenge any of you to research the effect of any major tax increase and find one – just ONE – that generated the revenue the politician calling for the tax increase said it would generate. The fact is that the government often raises more money as a result of a tax cut than it does from tax increases. Why don’t you check out some of the northeastern states who tried to implement surtaxes on millionaires and seehow that worked for them. The rhetoric plays well with the dumb masses … but that’s about it.
Poster Comment: I challenge any of you to research the effect of any major tax increase and find one – just ONE – that generated the revenue the politician calling for the tax increase said it would generate.
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#2. To: CZ82 (#0)
you could say the same for a tax cut - go back and look at what heritage predicted would happen as a result of the Bush tax cuts in 2001. Fact is, both Reagan and Clinton raised taxes and the economy performed better than it did after Bush cut them. You simply can't balance the budget solely by cutting spending and those spending cuts decrease economic activity and thus reduce tax income. Look at the UK as an example (or the U.S. in 1937) as examples of what happens when you cut spending during slow economic times. Unfortunately the GOP isn't driven by economics, they are driving by ideology. If they truly cared about the deficit, they wouldn't have supported extending and increased the Bush tax cuts in December.
ROTFLMMFAO......... The Left has cornered the market on ideology...... and don't have a clue about economics other than how to screw them up....
Did you sleep through the Bush administration?
Are you sleeping through Obamas?????? Go there and look at the charts, something familiar Bush vs. Obama: Total Private Sector Employment April 2, 2011 by Sean Patrick Hazlett reflectionsofarationalrep...4/02/bush-vs-obama-total- private- sector-employment/ Change in Total Private Employment (in thousands), Source: U.S. Bureau of Labor Statistics Some left-leaning sites have pointed to the chart above as a sign that Obama’s economic policies are a smashing success because total private sector employment has consistently increased in the last thirteen months. However, the problem with this chart is that it misleadingly shows Bush’s last year in office, his worst year, as a foil to Obama’s first two years and three months in office. This selective presentation of the data makes Bush’s record look abysmal compared to President Obama’s numbers. However, the unemployment rate is currently a whopping 8.8% and it still has not declined to President Bush’s 7.3% high in December 2008. Unemployment Rate, Source: U.S. Bureau of Labor Statistics Furthermore, if one includes President Bush’s entire record, it looks far better than President Obama’s record to date. Over President Bush’s entire presidency, the private sector created a net 188,000 jobs (not including January 2001 data). Surprisingly, this number includes the 3.78 million private sector jobs lost in 2008. Change in Total Private Employment (in thousands), Source: U.S. Bureau of Labor Statistics In contrast, under President Obama’s administration, the private sector lost a net 3.25 million private sector jobs. The point of this argument is not to assess blame on either administration’s policy. It simply puts the left’s claims in perspective. For every job that the private sector created under George W. Bush, the private sector eliminated 17.3 jobs under Barack Obama. While the private sector job outlook has certainly improved, the economy still must create 3.25 million private sector jobs to break even. Until then, it is disingenuous for the left to claim that President Obama’s economic policies are a resounding success.
There are no replies to Comment # 6. End Trace Mode for Comment # 6.
Top • Page Up • Full Thread • Page Down • Bottom/LatestI challenge any of you to research the effect of any major tax increase and find one – just ONE – that generated the revenue the politician calling for the tax increase said it would generate.
#4. To: go65 (#2)
Unfortunately the GOP isn't driven by economics, they are driving by ideology. If they truly cared about the deficit, they wouldn't have supported extending and increased the Bush tax cuts in December.
#5. To: CZ82 (#4)
The Left has cornered the market on ideology...... and don't have a clue about economics other than how to screw them up....
#6. To: go65 (#5)
(Edited)
Did you sleep through the Bush administration?
Replies to Comment # 6.
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