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When one looks at historical time periods we see no evidence that economic activity increased when taxes were lowered (Reagan and Bush) compared to time periods when taxes were raised (Clinton). In fact, Clinton's record after tax increases dwarfs Reagan and Bush. Kennedy, who presided over top tax rates of 70% had an outstanding record of economic growth.
Wow, this was a very bad speech. First off he spoke like he was at a campaign rally with cheering crowds and Greek columns standing behind him. Secondly - who wrote this repetitive monstrosity??
I have not duplicated any quote:
"I am sending this Congress a plan that you should pass right away."
"You should pass this jobs plan right away."
"You should pass this jobs plan right away."
"Pass this jobs bill"
"You should pass it right away."
"Pass this jobs bill"
"You should pass it right away"
"Pass this jobs bill"
"Pass this jobs bill"
"Pass this jobs bill"
"Pass this jobs bill"
"Pass this jobs bill"
"you should pass it again - right away."
"Pass this jobs bill"
"pass this bill right away"
"Pass this jobs bill"
"allow us to pass this jobs plan"
"You should pass it."
Text of President Obama's address to Congress - National - NewsObserver.com (http://www.newsobserver.com/2011/09/08/1471550/text-of-president-obamas-address.html - broken link)
Agreed!!!
If each living American received $5 million - The economy, starvation and healthcare would be fixed the same day we received the money. Tithing $10 billion is alot cheaper than wasting $437 billion.
At the beginning of his speech, the president says that his bill "is paid for."
however, when you read the proposal at whitehouse.gov , at the very end, he reveals his plan to pay for it: pass the buck to this "Super committee" to find hundreds of billions in cuts, just like magic.
Reagan had to hike taxes five times to crawl out of the deficit hole he created with his cuts, and we all know where Bush cuts got us. They got us into the debt mess we are in now. You can't keep cutting taxes unless you also cut spending, but now that tax-cuts are also called 'spending', I don't know how you can cut, without spending.
TEFRA?
"and we all know where Bush cuts got us. They got us into the debt mess we are in now."
No. Tax cuts don't cause deficits. Spending does that.
Bush increased the debt by $4 trillion over eight years.
Obama will do the same thing in three years.
FYI the economy expanded under Bush.
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