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Title: TEN MYTHS ABOUT THE BUSH TAX CUTS—AND THE FACTS
Source:
Heritage.org
URL Source: http://www.heritage.org/Research/Taxes/upload/bg_2001.pdf
Published: Jan 20, 2010
Author: Heritage.org
Post Date: 2010-01-20 15:59:41 by dont eat that
Keywords: None
Views: 1256
Comments: 60
Myth #1: Tax revenues remain low. Fact: Tax revenues are above the historical average, even after the tax cuts. Myth #2: The Bush tax cuts substantially reduced 2006 revenues and expanded the budget deficit. Fact: Nearly all of the 2006 budget deficit resulted from additional spending above the baseline. Myth #3: Supply-side economics assumes that all tax cuts immediately pay for themselves. Fact: It assumes replenishment of some but not necessarily all lost revenues. Myth #4: Capital gains tax cuts do not pay for themselves. Fact: Capital gains tax revenues doubled following the 2003 tax cut. Myth #5: The Bush tax cuts are to blame for the projected long-term budget deficits. Fact: Projections show that entitlement costs will dwarf the projected large revenue increases. Myth #6: Raising tax rates is the best way to raise revenue. Fact: Tax revenues correlate with economic growth, not tax rates. Myth #7: Reversing the upper-income tax cuts would raise substantial revenues. Fact: The low-income tax cuts reduced revenues the most. Myth #8: Tax cuts help the economy by “putting money in people’s pockets.” Fact: Pro-growth tax cuts support incentives for productive behavior. Myth #9: The Bush tax cuts have not helped the economy. Fact: The economy responded strongly to the 2003 tax cuts. Myth #10: The Bush tax cuts were tilted toward the rich. Fact: The rich are now shouldering even more of the income tax burden.
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#20. To: padlock (#19)
No...I believe that it has to do with you not understanding the world and your place in it.
No Stems No Seeds That You Don't Need...
I've talked with some lumber manufacturers and boat builders (to name a couple of industries) and they have all said that last year was the worst year they ever had. So much for the HNIC's stimulus.
Corporate profits grew last year after falling in 2008.
No Stems No Seeds That You Don't Need...
It was all a sham, only kool aid drinkers think otherwise.
FWIW we took our biggest hit in 4Q07, 1Q/2Q08 were flat, and things have steadily improved since then. We were able to restore most of our salary/budget cuts made in 12/08, and we do all our business in the commercial sector.
Glad to hear it GO65. Your the only one I know of...course I don't know what it is you 'do' so I can't gauge the impact implied.
And goldi wonders why her forum is compared to Stormfront.
IT related. It's not just us, look at earnings announcements from Google, Cisco, Apple, etc. Most sectors have seen some improvement in the last 6 months.
LoL!
This company made Dell very happy last Fall...
No Stems No Seeds That You Don't Need...
FYI: Source: http://www.factcheck.org/taxes/supply-side_spin.html
Bloomberg today:
Yep, but thats in comparision to a horrific previous year.
Its the result of laying off from what I can tell.
She doesn't wonder at all. She knows exactly why.
I sold 100% of my crops last summer. I had orders for twice that amount that I couldn't fill. I was getting as much as $10.00 a pound for some at farmer's markets. A processor who buys some of my produce said she was getting some of her payments 30 days late from her customers mostly wineries and boutique shops, but she said they are now all paid up.
i see revenue rising every year after the 2003 tax cuts. What's the problem?
Revenues, and spending and deficits for that matter, mean nothing in and of themselves. They are always relevant only when compared to the size of the overall economy.
WRONG
No Stems No Seeds That You Don't Need...
RIGHT
Say good night puddin'...averages were invented so that statisticians would have something to do...
No Stems No Seeds That You Don't Need...
Let's hope the nigger doesn't let them expire. Can't we all just get along? No Stems No Seeds That You Don't Need... war posted on 2010-01-21 9:24:52 ET Reply Trace Private Reply Odd fixation you have on padlock war......chuckles.....LOL!!!! I have zero posts to the cracker on this site. Total LP posts in 3 years to padlock = 15......none since 10-09 when he sunk to his outed level. You have zillions of posts to him. At least get that part right today ok? Of course you can go ahead and make some typical white plantation fraudulent leftist offhanded comment like you've done before and tell me to go back to my EEOC job. You fool nobody war. Be honest and go tip a few with sheets/padlock and step away from your stupid assertion that he and I are buds in any way.
Death to everybody who does not get outta my way.
That has been sitting there since last night... So? Life simply does not revolve around LP for me.....I'm here on it for whatever time entertains me. Padlock and I probably would not be sitting down watching MNF very soon......but maybe if we met he'd realize his errors and forgive me for not properly selecting my parents. Want to make a bet on how many times I've called padlock and others here crackers when they post this stuff verses how many times you've blasted dirtro as the evil anti american POS that he constantly posts? 10 Dollars for each instance and the difference goes to Tom McClintock's governor race here in Calif? Done? Chuckles..........;>) e_type_jag posted on 2009-10-05 15:26:24 ET Reply Trace Here you are war..... The last post I made to cracka boy padlock at LP or anywhere....and you were pinged to it. It pains me to have to correct you so often...........
Death to everybody who does not get outta my way.
Why would you...you are so politically in tune there's no reason for you to...your MO is to respond to those with whom you disagree and invoke the Truck Stop response at every turn... and tell me to go back to my EEOC job. C'mon e_type...seriously...tell me that you did NOT take that to heart... That said...amazing that if you do that I offend you but puddin' pop does not...
No Stems No Seeds That You Don't Need...
Your bet was a non sequitur...I responded to Destro occasionally but, frankly, I had him on floating bozo because he would spam responses and fill up the thread and it was annoying trying to wade through it. Also, Destro was trying to sabotage Goldi...that was his motivation. Padlock, on the other hand, hates you for your skin color and has no issue with you being stigmatized as an EEOC hire... Have a nice day in the GOP...
No Stems No Seeds That You Don't Need...
Huh? Truck stop analogies directed at anyone other than the truck stop mattress aka whiningskank? Where? I try to mix up my derisive descriptors but maybe I'm slipping up somewhere?
Death to everybody who does not get outta my way.
Hello?? Hellooooooooo? Did you miss the LP post where I called the dude a cracker? Most people know that term is a derogatory one and might kind of indicate I find padlock and his ilk offensive. As for the EEOC thing.....minor in Psych war.....that post was your Freudian and you made the comment to someone else probably not thinking I'd catch it. It's what you really think...blacks get jobs via some sort of preferences regardless of their capability.......who ya kidding here war?....you'd be number 567 in the list of people who have either said or insinuated that that I'm aware of.
Death to everybody who does not get outta my way.
I've made it to you as well...mon frer noir...
No Stems No Seeds That You Don't Need...
Really? Where was that again war? I really actually don't recall....I'd probably have had a comment back to you on it. Whatever....it's not a backhand I'd have expected from you as I'm no EEOC recipient that I'm aware of.
Death to everybody who does not get outta my way.
I ***think*** you know that I know that...
No Stems No Seeds That You Don't Need...
ok we're good on that:)
Death to everybody who does not get outta my way.
I made great money under Clinton and Bush, but I'm making the most money that I've ever made in my life right now. But please don't take that to mean that I endorse Obama OR his policies, I don't. I consider myself the exception to the rule. Most of the people that I worked with 2 years ago are now unemployed.
DON'T TRUST THE POLICE!... NO JUSTICE NO PEACE!... THEY LEAVE YOU FACE DOWN IN THE MIDDLE OF THE STREET! LOL!
You are majoring in psych warfare? lolol Try honesty.... it works better.
Coming from you? That is really choice! Sneakypete, have you ever been married? Said things you later regretted?
You must have flunked the psycho warfare course. Oh well, theres always work with Whitey as a spittoon emptier.
You should be in a psychiatric facility receiving treatment. Sneakypete, have you ever been married? Said things you later regretted?
I worked at one. Many of the inmates acted much like you.
You are the exception...but its nice to know somebody is doing well under this Democrat Congress and Administrationi. Congrats. Like you, I know quite a few unemployed, more scared to death they will be unemployed, and more than a couple facing foreclosures.
I should have kept my mouth shut. I hope I didn't jinx myself. I have and still do feel that I could be next on the chopping block.
More delusions! You were incarcerated in one. They released you too soon.
Sneakypete, have you ever been married? Said things you later regretted?
You think it has explicitly to do with his skin color
#21. To: Badeye (#18)
#22. To: padlock (#21)
I've talked with some lumber manufacturers and boat builders (to name a couple of industries) and they have all said that last year was the worst year they ever had.
#23. To: dont eat that (#21)
#24. To: Badeye (#18)
All I know is I made good money under the Clinton administration and the Bush administration. Under this idiots administration (Obama) I'm not. Nobody else seem to be either, unless your a federal employee.
#25. To: go65 (#24)
#26. To: dont eat that (#14)
#27. To: Badeye (#25)
Glad to hear it GO65. Your the only one I know of...course I don't know what it is you 'do' so I can't gauge the impact implied.
#28. To: Bartcoprules (#26)
And goldi wonders why her forum is compared to Stormfront.
#29. To: go65 (#27)
#30. To: dont eat that (#0)
From the Congressional Budget Office’s 2007 Budget Outlook: “The expiration of tax provisions as scheduled has a substantial impact on CBO’s projections, especially beyond 2010 when a number of revenue-reducing tax provisions enacted in the past several years are slated to expire,” the report says. “Almost all of the expiring provisions reduce revenues.”
The Joint Committee on Taxation estimated that the 2001 tax legislation (the Economic Growth and Tax Relief Reconciliation Act) would cause government revenues to be 107.7 billion less than they would have been in the absence of the legislation in 2004, 107.4 billion less in 2005 and 135.2 billion less in 2006. The committee's estimates for the effect of the Jobs and Growth Tax Relief Reconciliation Act of 2003 were that it would reduce otherwise projected revenues by 148.7 billion in 2004, 82.2 billion in 2005 and 20.7 billion in 2006. The JCT makes its comparisons against the Congressional Budget Office's receipts baselines.
The projections were not off the mark. A look at the committee's estimates of total federal revenue including the effects of the 2003 tax legislation versus the actual federal receipts shows that the JCT's projections were higher than actual revenues in 2003 and 2004 and slightly lower than actual receipts in 2005.
Also, Rob Portman, director of the Office of Management and Budget, and Ed Lazear, chairman of the Council of Economic Advisers, told journalists at the Washington Times last October that the tax cuts prompted economic and stock market growth. But, the paper reported, “they conceded that the tax cuts…cut deeply into government revenue.”
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#31. To: war, badeye (#29)
More than 60 companies in the S&P 500 are reporting fourth- quarter results this week and analysts surveyed by Bloomberg forecast total earnings grew 67 percent, with estimates for a 30 percent increase in the first quarter of 2010. The benchmark index’s valuation climbed last week to 25 times its companies’ reported operating profits, the highest level since 2002, following a 70 percent jump since March.
#32. To: go65 (#27)
#33. To: go65 (#31)
#34. To: Bartcoprules (#26)
#35. To: go65 (#24)
(Edited)
FWIW we took our biggest hit in 4Q07, 1Q/2Q08 were flat, and things have steadily improved since then. We were able to restore most of our salary/budget cuts made in 12/08, and we do all our business in the commercial sector.
#36. To: go65 (#30)
#37. To: war (#13)
#38. To: dont eat that (#37)
#39. To: war (#38)
#40. To: padlock (#39)
#41. To: war (#16)
#16. To: padlock, e_type_jag (#14)
#42. To: war (#16)
#190. To: war, padlock (#187)
#43. To: e_type_jag (#41)
I have zero posts to the cracker on this site.
#44. To: e_type_jag (#42)
#45. To: war (#43)
you disagree and invoke the Truck Stop response at every turn...
#46. To: war (#43)
That said...amazing that if you do that I offend you but puddin' pop does not...
#47. To: e_type_jag (#46)
As for the EEOC thing.....minor in Psych war.....that post was your Freudian and you made the comment to someone else probably not thinking I'd catch it.
#48. To: war (#47)
I've made it to you as well...mon frer noir...
#49. To: e_type_jag (#48)
#50. To: war (#49)
#51. To: Badeye (#18)
All I know is I made good money under the Clinton administration and the Bush administration. Under this idiots administration (Obama) I'm not. Nobody else seem to be either, unless your a federal employee.
#52. To: e_type_jag (#46)
Did you miss the LP post where I called the dude a cracker?
#53. To: e_type_jag (#46)
minor in Psych war
#54. To: mininggold, e_type_jag (#53)
Try honesty.... it works better.
#55. To: Ibluafartsky (#54)
#56. To: mininggold (#55)
You must have flunked the psycho warfare course.
#57. To: Ibluafartsky (#56)
You should be in a psychiatric facility receiving treatment.
#58. To: We The People (#51)
#59. To: Badeye (#58)
You are the exception...but its nice to know somebody is doing well under this Democrat Congress and Administrationi. Congrats. Like you, I know quite a few unemployed, more scared to death they will be unemployed, and more than a couple facing foreclosures.
#60. To: mininggold (#57)
I worked at one.
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