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Title: Happy 10th Birthday, Bush Tax Cuts! You've been a failure in every conceivable way
Source:
Slate
URL Source: http://www.slate.com/id/2296578
Published: Jun 10, 2011
Author: Annie Lowery
Post Date: 2011-06-10 10:59:53 by go65
Keywords: None
Views: 42342
Comments: 143
Unfortunately, the tax cuts never translated into robust economic growth, either. Indeed, the aughts saw the worst growth since World War II. From 2001 to 2007, annual GDP growth averaged just 2.4 percent per year, lower than in any other postwar business cycle. The contrast is starker still when judging against the previous decade. In real terms, GDP grew half as much from 2001 to 2010 as from 1991 to 2000.
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Begin Trace Mode for Comment # 34.
#3. To: go65 (#0)
The disaster that was the Booosh Tax cuts is so apparent that it's not even worth debating any more.
I love how you make drive-by accusations then refuse to back up anything you proclaim by couching your language in weasel words. You need to go back to the disinformation collective and brush up on your skills, comrade.
We went from surplus to deficit in the wink of an eye. The debt EXPLODED and the tax "cuts" did absolutely nothing. Our fiscal problems and the fact that we cannot inplement a TRUE Keynsian solution to the current economic ennui can be traced back to those cuts. Those are all proven facts. There's nothing drive-by about it at all. Those cuts were the pinnacle of fiscal irresponsibility - a trait that the GOP demonstrates every time that it gets into power.
There is no such thing a s budget surplus. It is a weasel expression of statists and only means the taxpayers are being overtaxed by the government. For what reason is anybody's guess. It is not to pay down the national debt. Clinton began using the phrase 'budget surplus' in the 90s and nobody called him on it. The last thing this crippled nation needs is a Kevorkian application of more Keynesian economics. What is needed is reducing the government bureaucracy to the US Constitution authorized departments and turn the powers not enumerated in that document to the Federal government back over to the states who better know their own needs than some cubicle wart in DC. The last one hundred years is the best argument for de-fanging a powerful, centralized government. I recommend a return to the rule of law, not the rule of bankers and focus groups, which we have had since before the turn of the last century.
So cutting a trillion dollars of spending will somehow improve the economy? You have to work really hard to remain oblivious to all the examples throughout history where cutting spending has negatively impacted growth, including most recently in the UK & Ireland, as well as in the US in 1937. You have to work hard as well to believe that reducing spending leads to "more" economic activity.
Yes. The trillions of dollars come from the taxpayer, to whom it rightly belongs. Not congress. By overtaxing the people, less money is available as venture capital to create substantive, middle class lifestyle supporting jobs. Not the McDonald's jobs Barry Soetoro is trying to palm off as job growth. Creating substantive, sustaining jobs will in turn pump new life into an expanding economy. Not the closed-circuit borrow and spend we have now. Ireland was and is an economic basket case. The lie of the EU and the German pumping of billions of Euros into the Irish economy only lasted for roughly a decade. They are in deep depression, as is half of the EU. You apparently believe reducing private spending is good for the economy while increasing the tax and spend of confiscatory government will grow the economy. You have got one twisted perspective.
Actually about a third of it is borrowed. we tax people less now than under Reagan or Clinton, Do we just ignore the few million who would be put out of work by say an instant cut in government spending by a few trillion (and of course we would need to stop paying medicare and social security benefits). The Irish tried to cut their way to prosperity and failed, as the British are now doing, as the U.S. did in 1937. You keep ignoring that. Uh no. I've been quite clear in what I think ought to be done: - replacement of income-based taxes with a national sales tax. Eliminate all corporate taxes and taxes on investments. - institute a canadian-style single-payer health insurance system with private care so that folks don't have to worry about losing insurance if they change jobs or start a business and allow the U.S. government to negotiate with drug companies and care providers, using a combination of health savings accounts and catastrophic insurance. - implement a tax on imported goods to use to create a fund to provide low cost loans to those seeking to create manufacturing capabilities in the U.S. - massively invest in high-speed rail in major transportation corridors - drastically cut U.S. military deployments overseas and withdraw from both Iraq and Afghanistan - offer greater incentives for seniors to delay taking SS benefits
There is just no enlightening a true statist.
sorry, i put facts/data/actual real-world experience ahead of ideology.
I find that impossible to believe, simply because the real world doesn't work the way you wish to believe. Hence your constant on-line activism for the increasing communisation of this country, as well as a second regime for Barry Soetoro and his handlers.
You hurl insults, I hurl examples/facts/figures. To each his own.
#38. To: go65 (#34)
And very weak ones at that. Rudy's picture leaked out on the internet:
No, I hurl the truth learned from living in the real world and interacting with it.
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#6. To: war (#3)
(Edited)
The disaster that was the Booosh Tax cuts is so apparent that it's not even worth debating any more.
#7. To: Rudgear (#6)
#11. To: war (#7)
#13. To: Rudgear (#11)
What is needed is reducing the government bureaucracy to the US Constitution authorized departments and turn the powers not enumerated in that document to the Federal government back over to the states who better know their own needs than some cubicle wart in DC.
#16. To: go65 (#13)
So cutting a trillion dollars of spending will somehow improve the economy?
#23. To: Rudgear (#16)
Yes. The trillions of dollars come from the taxpayer, to whom it rightly belongs.
. By overtaxing the people, less money is available as venture capital to create substantive, middle class lifestyle supporting jobs.
Creating substantive, sustaining jobs will in turn pump new life into an expanding economy. Not the closed-circuit borrow and spend we have now.
reland was and is an economic basket case. The lie of the EU and the German pumping of billions of Euros into the Irish economy only lasted for roughly a decade. They are in deep depression, as is half of the EU.
You apparently believe reducing private spending is good for the economy while increasing the tax and spend of confiscatory government will grow the economy. You have got one twisted perspective.
#25. To: go65 (#23)
#31. To: Rudgear (#25)
There is just no enlightening a true statist.
#32. To: go65 (#31)
#34. To: Rudgear (#32)
I find that impossible to believe, simply because the real world doesn't work the way you wish to believe. Hence your constant on-line activism for the increasing communisation of this country, as well as a second regime for Barry Soetoro and his handlers.
Replies to Comment # 34. You hurl insults.
#41. To: go65 (#34)
End Trace Mode for Comment # 34.
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