Tax Cuts Work!

Yep. They work. That is, they serve the purpose for which they were instituted: To put more money into the pockets of the wealthy.

 

<div class='quotetop'>QUOTE(daniel @ Jul 13 2006, 10:11 AM) [snapback]285602[/snapback]</div>

Please read the lead editorial from the WSJ yesterday on the effects of the Bush Tax Cuts - and then refer to history in terms of the effects of the Reagan and Kennedy tax cuts and you will find the SAME recurring effect on the economy - a HUGE increase in government revenue based on a larger intake from as you refer to them the Wealthy (I refer to them as the taxpayers since the wealthy pay almost all the taxes in the US) and corporations. There has NEVER been any other consequence of a tax cut based on reducing the over margin of income taxed - EVER.

Perhaps - you can argue the contrary - I await your evidence and not any rhetoric.

And if you want to look at the current deficit please refer to it in terms of % of GDP - obvious to be able to equate it to prior deficits. It currently stands at 2.6% - very low indeed considering FDR ran 20% deficits during his war years.

I would hope that one day we could stop this class warfare ideology.

 

Yup, they really work:

 

....finish the thought, so the rich spent more to keep the middle class workers employed.....

 

........and if the rich paid more taxes it would go to..........that's right, Haliburton......

 

<div class='quotetop'>QUOTE(Karnac @ Jul 14 2006, 01:01 AM) [snapback]286090[/snapback]</div>

Now that Haliburton is going to be one of THREE contractors where will the "liberals" go to complain?

Another target off the radar screen is Joe Wilson/Valerie Plame (the only leak the NY Times thought was not ok - evidence in and of itself that it probably was of no real security significance

Karl Rove is still a free man.

The economy is humming

The first Iraqi provence was handed over TOTALLY to the Iraqi's

etc etc

whats left to harp on

 

We could go back to the Clinton model...

Let the top CEO's of America's companies run shell games and do false revenue reporting so that wallstreet balloons their company stock prices so that the CEO's get hundred million dollar bonuses and salaries.... Companies with all this fake money are more easily able to hire more people and give more raises which in turn increases tax receipts at every level. That brings in smaller deficits...

And, you run home happy because you got your raise and you got a democrat in the whitehouse, and the world is a real happy place....

Oh.. Until one day when the house of cards must come down and all the little people pay these bills with their retirement accounts. Your 401k probably had some worldcom and enron, mine probably did.. We all paid for this with our retirement funds.

Maybe we should just pass a law to dump all of America's retirement accounts into the US Treasury to pay off the whole debt and maybe even make a big surplus of cash on hand we can waste.

Anyone here formerly from Enron that wants the Clinton strategy back? Maybe we can get some support for this from the folks at WorldCom... oops... Guess not... Oh yah, that reminds me.. my few shares of Computer Associates stock took a dump when they got wacked for their false reporting. Charles Wang and Sanjay Kumar almost had to sell one of their polo horses to pay their lawyers to keep them out of jail. Luckily for them, they could just use a few hundred bucks from my piddly stock shares I got through the Employee Stock Purchase Program.

Weird how this stuff all went unchecked until about January 2000 and then it all came due..

Glad I wasn't one of those people who lost $50,000 or $250,000 in the collapse. On the upside, we had lower deficits or even surpluses on the backs of these people who now have nothing left in their retirement accounts.

 

Imagine my surprise then when I just opened up my latest mutual fund performance summary and noticed a decline in my fund! Even the Dow is down from May 2006. You're right! The tax cuts do work! I'm seeing more money in my pocket everyday! In fact so much, we use the extra for napkins at dinner time.

 

I friend of mine, who had the honor of being a taxpayer during the Reagan years, once told me that while the tax rate on his income was lowered, the other changes to the code left him paying more in taxes than before.

If you feel like having a look.
http://homepages.kdsi.net/~sherman/rushmore.html
http://home.att.net/~rdavis2/taxcuts.html
http://hnn.us/roundup/comments/5562.html
http://www.democraticunderground.com/discu...ess=104x1208401

 

Show me the evidence you have of a connection between the Bush tax cuts and revised revenue/deficit projections.

 

<div class='quotetop'>QUOTE(efusco @ Jul 13 2006, 09:16 AM) [snapback]285603[/snapback]</div>

The good Doctor is correct.... Does anyone here realize that 50% of the taxpayers in this Country pay 96% of the taxes???? And NO, its not the lower and middle class that pays them.... You other 50% are paying 4% of the taxes..... nothing like carrying your own weight.....You just have to be so proud!!!! You can sit there and demand more entitlements, but pity anybody that tries to wake you up before noon....

 

<div class='quotetop'>QUOTE(daronspicher @ Jul 14 2006, 08:56 AM) [snapback]286177[/snapback]</div>

Wow now presidents get blamed for illegal activites of CEOs.

When the economy was good (when Clinton was pres) the "conservatives" would say the president has no control over the economy. When the ecconomy was bad (when Bush was pres) the same people would say that the president has no control over the econmy. Now the story is Clinton did have control, he caused the downturn, and the rebound is all Bush's doing? I have to get this straight for the next economic downturn (yes it does go in cycles), will it be Bush's fault, or will the president again have no control over it?

The governmental spending orgy over the last 5 years couldn't have anything to do with a growing economy? Nope it's only the tax cuts <_<

 

Still think the tax cuts are working????

From the AP and MSNBC.com:


Updated: 9:18 a.m. CT July 28, 2006
WASHINGTON - The economy’s growth slowed sharply in the second quarter, logging just a 2.5 percent pace as consumers tightened their belts and spending on home building nose-dived. Inflation, however, shot up.


Hmmm........

 

Axiom which is true (check GAO numbers) eventhough the axiom doesn't "seem" to make sense:

When the Government cuts taxes, the next year it takes in more money!


The problem is always, just as now, a SPENDING issue!

True conservative (fiscal) chastize Regan and Bush for their spending policies.


Yes tax cuts benfit wealthy people, why? BECAUSE WEALTHY PEOPLE PAY TAXES!!!!!

 

So we can all stay employed by the wealthy (because that is their main motivation, I hear, to keep the less wealthy people employed) let's just keep moving in the direction of getting more of the money into fewer and fewer hands. If we can ever get it down to where one guy has all of the money then everyone will be happy because this guy will be giving everyone a well-paid job.

I nominate myself to be the guy. Please send all proceeds to this bank routing number: 1234567-89. Thank you for your cooperation in this matter.

 

<div class='quotetop'>QUOTE(Devil's Advocate @ Jul 28 2006, 04:01 PM) [snapback]293969[/snapback]</div>

You could say that it takes in more money, but when including inflation it's not taking in more. It's taking in less, just like one would expect.
Total Federal Tax Collections (billions) (2)

Year Nominal Constant (87 dollars)
---------------------------------------
1980 $517.1 $728.1
1981 599.3 766.6 < tax cut passed
1982 617.8 738.2 < drop
1983 600.6 684.3 < drop
1984 666.6 730.4
1985 734.1 776.6 < 81 level recovered
1986 769.1 790.0
1987 854.1 854.1
1988 909.0 877.3
1989 990.7 916.2
1990 1031.3 914.1
1991 1054.3 894.7
1992 1090.5 895.1

Edit- Can't get it to format correctly......

 

<div class='quotetop'>QUOTE(efusco @ Jul 13 2006, 09:16 AM) [snapback]285603[/snapback]</div>

I can't help but wonder if you and all the others with the same thoughts are not really just much more interested in your pocket book than in the whats good for America. If tax cuts are good and the country were not in the middle of a war with escalating national dept. Then why not an across the board tax credit. Wait ! I know your answer. " THE STUPID POOR FOLKS WILL JUST WAST THERE MONEY WHILE ALL OF US SMART GUYS WILL SPEND WERE IT DOES THE MOST GOOD" Like maybe a 5,000 sq. ft. home for 2 people. or a Nice big Hummer to drive the kids to school. Or maybe a pedicure for Fifi the family poodle.