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Old 09-02-2019, 07:05 AM
 
Location: Milwaukee
5,051 posts, read 2,305,621 times
Reputation: 3248

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Quote:
Originally Posted by Quick Enough View Post
" Tax cuts GROW the economy, and increase total tax revenues." A FACT many on the left always ignore and refuse to accept.

"Publication: Business Wire
Date: Friday, January 4 2008

More Than 8.3 Million Jobs Created Since August 2003 In Longest Continuous Run Of Job Growth On Record

WASHINGTON -- Today, the Bureau of Labor Statistics released new jobs figures - 18,000 jobs created in December. Since August 2003, more than 8.3 million jobs have been created, with more than 1.3 million jobs created throughout 2007. Our economy has now added jobs for 52 straight months - the longest period of uninterrupted job growth on record. The unemployment rate remains low at 5 percent. The U.S. economy benefits from a solid foundation, but we cannot take economic growth for granted and economic indicators have become increasingly mixed. President Bush will continue working with Congress to address the challenges our economy faces and help facilitate long-term economic growth, job growth, and better standards of living for all Americans.

* Real GDP grew at a strong 4.9 percent annual rate in the third quarter of 2007. The economy has now experienced six years of uninterrupted growth, averaging 2.8 percent a year since 2001.

* Real after-tax per capita personal income has risen by 11.7 percent - an average of more than $3,550 per person - since President Bush took office.

* Over the course of this Administration, productivity growth has averaged 2.6 percent per year. This growth is well above average productivity growth in the 1990s, 1980s, and 1970s.


By 2003, Mr. Bush grasped this lesson. In that year, he cut the dividend and capital gains rates to 15 percent each, and the economy responded. In two years, stocks rose 20 percent. In three years, $15 trillion of new wealth was created. The U.S. economy added 8 million new jobs from mid-2003 to early 2007, and the median household increased its wealth by $20,000 in real terms.

But the real jolt for tax-cutting opponents was that the 03 Bush tax cuts also generated a massive increase in federal tax receipts. From 2004 to 2007, federal tax revenues increased by $785 billion, the largest four-year increase in American history. According to the Treasury Department, individual and corporate income tax receipts were up 40 percent in the three years following the Bush tax cuts. And (bonus) the rich paid an even higher percentage of the total tax burden than they had at any time in at least the previous 40 years. This was news to theNew York Times, whose astonished editorial board could only describe the gains as a “surprise windfall.”"
"The Growing Danger of People Who Don't Know the Difference Between Opinion and Fact"

This post is composed of bits and pieces of copy-and-pastes from a number of editorials and Bush's White House press releases, which are opinions and right-wing propaganda.

The Brookings Institution begs to differ:

In fact, the economic expansion that lasted from 2001 to 2007 was weaker than average. A review of economic evidence on the tax cuts by Brookings Institution economist William Gale and Dartmouth professor Andrew Samwick, former chief economist on George W. Bush’s Council of Economic Advisers, found that “a cursory look at growth between 2001 and 2007 (before the onset of the Great Recession) suggests that overall growth rate was … mediocre” and that “there is, in short, no first-order evidence in the aggregate data that these tax cuts generated growth.”

In comparison, the economic expansion of the early 1990s — which followed considerable tax increases — produced a much faster rate of job growth and somewhat faster GDP growth than the expansion of the early 2000s. An analysis of business activity between 1996 and 2008 found that even the sharp cut in dividend tax rates in 2003, which proponents claimed would spur immediate business growth, had no significant impact on business investment or employee compensation after 2003.

And, when the tax cuts were scheduled to expire at the end of 2012, extending the high-income tax cuts in particular was projected to have almost no effect on economic growth. The Congressional Budget Office (CBO) estimated in 2012 that extending the high-income tax cuts would have boosted GDP by just 0.1 percent in 2013. Indeed, allowing the high-income tax cuts to expire after 2012 does not appear to have had any substantial negative impacts on economic growth, as proponents of the tax cuts had claimed, and the economy has continued to grow steadily since then.

https://www.cbpp.org/research/how-ro...omic-expansion

Last edited by AguaDulce; 09-02-2019 at 07:40 AM..
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Old 09-03-2019, 10:54 AM
 
38,458 posts, read 16,691,972 times
Reputation: 8775
Quote:
Originally Posted by AguaDulce View Post
"The Growing Danger of People Who Don't Know the Difference Between Opinion and Fact"

This post is composed of bits and pieces of copy-and-pastes from a number of editorials and Bush's White House press releases, which are opinions and right-wing propaganda.

The Brookings Institution begs to differ:

In fact, the economic expansion that lasted from 2001 to 2007 was weaker than average. A review of economic evidence on the tax cuts by Brookings Institution economist William Gale and Dartmouth professor Andrew Samwick, former chief economist on George W. Bush’s Council of Economic Advisers, found that “a cursory look at growth between 2001 and 2007 (before the onset of the Great Recession) suggests that overall growth rate was … mediocre” and that “there is, in short, no first-order evidence in the aggregate data that these tax cuts generated growth.”

In comparison, the economic expansion of the early 1990s — which followed considerable tax increases — produced a much faster rate of job growth and somewhat faster GDP growth than the expansion of the early 2000s. An analysis of business activity between 1996 and 2008 found that even the sharp cut in dividend tax rates in 2003, which proponents claimed would spur immediate business growth, had no significant impact on business investment or employee compensation after 2003.

And, when the tax cuts were scheduled to expire at the end of 2012, extending the high-income tax cuts in particular was projected to have almost no effect on economic growth. The Congressional Budget Office (CBO) estimated in 2012 that extending the high-income tax cuts would have boosted GDP by just 0.1 percent in 2013. Indeed, allowing the high-income tax cuts to expire after 2012 does not appear to have had any substantial negative impacts on economic growth, as proponents of the tax cuts had claimed, and the economy has continued to grow steadily since then.

https://www.cbpp.org/research/how-ro...omic-expansion
"The Los Angeles Times has described Brookings as liberal-leaning and centrist before opining that it did not believe such labels mattered. In 1977, Time magazine described it as the "nation's pre-eminent liberal think tank"

https://www.google.com/search?client...stitution+bias

If the very liberal LA Times and the Time mag calls the The Brookings Institution liberal, you KNOW it is.

Your source just might be a bit biased.
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Old 09-03-2019, 07:21 PM
 
Location: Milwaukee
5,051 posts, read 2,305,621 times
Reputation: 3248
Quote:
Originally Posted by Quick Enough View Post
"The Los Angeles Times has described Brookings as liberal-leaning and centrist before opining that it did not believe such labels mattered. In 1977, Time magazine described it as the "nation's pre-eminent liberal think tank"

https://www.google.com/search?client...stitution+bias

If the very liberal LA Times and the Time mag calls the The Brookings Institution liberal, you KNOW it is.

Your source just might be a bit biased.
Your believe that your sources (editorials and White House press releases) are less biased than mine? We have nothing more to discuss then. Carry on.
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Old 09-03-2019, 07:28 PM
 
Location: North Carolina
3,127 posts, read 2,166,807 times
Reputation: 6422
Many people of voting age (young and old) need to sharpen their critical thinking skills. Millennials don't hold a monopoly on that issue.

Also, I've been around enough to know that when someone dismisses an entire generation as "misinformed", it's often because they feel threatened by a viewpoint that doesn't match their own 100%.
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Old 09-03-2019, 07:31 PM
 
6,939 posts, read 2,119,767 times
Reputation: 6430
Quote:
Originally Posted by mike1003 View Post
So many comments by Millennials seem to be based on poor education. I see this all the time with grand kid and grand kid's friends (almost 20 years old and highschool grads)

Simple things cannot be answered because of ignorance

Things lik,e what is Socialism? What is Capitalism? What is the Bill of Rights?

When I try to answer, "I don't know anything!"
This is not confined to Millennials. One-third of all Americans can't even name the three branches of government.
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Old 09-03-2019, 07:46 PM
 
6,011 posts, read 3,249,749 times
Reputation: 3506
Quote:
Originally Posted by Quick Enough View Post
"The right are the ones stuck in the past." Yet, it is the left constantly complaining Trump does not follow PAST precedents!


We get all kinds of things said to about us when we bring up bill, hillary and obama. I think I smell a hypocrite.
Funny thing is Trump is the one taking us backwards, so yeah, the past looks more like the future ever since Biff got into power..
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Old 09-04-2019, 05:21 AM
 
38,458 posts, read 16,691,972 times
Reputation: 8775
Quote:
Originally Posted by AguaDulce View Post
Your believe that your sources (editorials and White House press releases) are less biased than mine? We have nothing more to discuss then. Carry on.
"We have nothing more to discuss then"

AH, another snowflake who CAN'T HANDLE differences of opinions.

If you DON'T want to discuss issues, why are you here? This IS the politics and other CONTROVERSIES Forum.
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Old 09-04-2019, 05:29 AM
 
Location: Just over the horizon
8,526 posts, read 2,939,463 times
Reputation: 4622
Quote:
Originally Posted by Chicano3000X View Post
The right are the ones stuck in the past. We pretty much have to explain things to them in crayon. And theyed still claim “hoax”..


Maybe that's because so much of what the Left does a Chicken Little freak out over ends up being untrue?

Maybe because the narrative is more important than the facts?
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Old 09-04-2019, 05:30 AM
 
38,458 posts, read 16,691,972 times
Reputation: 8775
Quote:
Originally Posted by Chicano3000X View Post
Funny thing is Trump is the one taking us backwards, so yeah, the past looks more like the future ever since Biff got into power..
"Funny thing is Trump is the one taking us backwards"

Yeah, I know. I mean who would want all of this?
Trumps accomplishment as of July 31, 2019
Are your Blinders firmly on?


Bette relations with China ans North Korea.

  • 4 million new jobs have been created since the election, and more than 3.5 million since Trump took office.
  • More Americans are employed now than ever before in our history.
  • Jobless claims at lowest level in nearly five decades.
  • The economy has achieved the longest positive job-growth streak on record.
  • Job openings are at an all-time high and outnumber job seekers for the first time on record.
  • Unemployment claims at 50 year low
  • African-American, Hispanic, and Asian-American unemployment rates have all recently reached record lows.
    • African-American unemployment hit a record low of 5.9 percent in May 2018.
    • Hispanic unemployment at 4.5 percent.
    • Asian-American unemployment at record low of 2 percent.
  • Women’s unemployment recently at lowest rate in nearly 65 years.
    • Female unemployment dropped to 3.6 percent in May 2018, the lowest since October 1953.
  • Youth unemployment recently reached its lowest level in more than 50 years.
    • July 2018’s youth unemployment rate of 9.2 percent was the lowest since July 1966.
  • Veterans’ unemployment recently hit its lowest level in nearly two decades.
    • July 2018’s veterans’ unemployment rate of 3.0 percent matched the lowest rate since May 2001.
  • Unemployment rate for Americans without a high school diploma recently reached a record low.
  • Rate for disabled Americans recently hit a record low.
  • Blue-collar jobs recently grew at the fastest rate in more than three decades.
  • Poll found that 85 percent of blue-collar workers believe their lives are headed “in the right direction.”
    • 68 percent reported receiving a pay increase in the past year.
  • Last year, job satisfaction among American workers hit its highest level since 2005.
  • Nearly two-thirds of Americans rate now as a good time to find a quality job.
    • Optimism about the availability of good jobs has grown by 25 percent.
  • Added more than 400,000 manufacturing jobs since the election.
    • Manufacturing employment is growing at its fastest pace in more than two decades.
  • 100,000 new jobs supporting the production & transport of oil & natural gas.

American Income

  • Median household income rose to $61,372 in 2017, a post-recession high.
  • Wages up in August by their fastest rate since June 2009.
  • Paychecks rose by 3.3 percent between 2016 and 2017, the most in a decade.

Last edited by Quick Enough; 09-04-2019 at 05:42 AM..
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Old 09-04-2019, 05:33 AM
 
Location: USA
20,046 posts, read 9,601,133 times
Reputation: 15135
Quote:
Originally Posted by Quick Enough View Post
"Funny thing is Trump is the one taking us backwards"


Yeah, I know. I mean who would want the LOWEST unemployment numbers in a long time. Who would want civil relations with North Korea and China. Who would want the Dow over 26. Who would want consumer confidence UP after being DOWN the entire obama admin. Who would want ILLEGALS stopped as best we can from entering our country ILLEGALLY. The list is of going FORWARD too long to post.
^^^^^This. I don't know where people get we're "going backwards". They are still mad about Hillary losing, and hate Trump. However, that's not "backwards". We are much better with Trump than Obama and of course Hillary would have been another Obama or worse.
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