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Yes, that is how the conversation went. The cuts would eventually stimulate business and bring in the dough, but republicans would be quick to point out that initially they would reduce receipts.
I can't think of a single proposal the Republicans have not opposed. Take the death panels for example. The republicans supported them overwhelmingly when it was on Bush's massive medicare bill, but this year they made a HUGE deal out of opposing it when the proposal was not even on the bill. That's DC at its best for you. I don't know how they expect anyone to ever vote for them again, but of course the masses will do it again. Same goes for Dems if that makes you happier.
If they Republicans favor cutting corporate taxes then why the hell didn't they cut them when they had control of every branch of the government?
Buruea of Labor Statistics Cites Real Unemployment at 17.5%
Don't know if it's been said yet. But. Total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers is standing at about 17.5%.
Yes, that is how the conversation went. The cuts would eventually stimulate business and bring in the dough, but republicans would be quick to point out that initially they would reduce receipts.
So now you are projecting that Republicans would object to something that they supported just a few months ago?
Next paragraph skipped due to off topic
Quote:
Originally Posted by Finn_Jarber
If they Republicans favor cutting corporate taxes then why the hell didn't they cut them when they had control of every branch of the government?
Ahh they DID.. Did you miss all of the attacks for Republicans only concerned about big businesses? it was Democrats who just raised them back.
How do you get your memory to be this selective? Please let me know so I dont make the same mistake..
The Bush Administration enacted the Jobs and Growth Tax Relief Reconciliation Act of 2003. The major tax cuts included the following:
1. Accelerated Reduction in Income Tax Rates: The reductions in income tax rates in excess of 15-percent scheduled for 2004 and 2006 are accelerated to 2003, resulting in new rates of 25%, 28%, 33% and 35% (from 27%, 30%, 35% and 38.6%).
2. Reduction in Tax Rates on Dividends and Capital Gains: The maximum tax rate on dividends paid by corporations to individuals and on individuals’ capital gains is reduced to 15% in 2003 through 2008. For taxpayers in the 10% and 15% ordinary income tax rate brackets, the rate on dividends and capital gains is reduced to 5% in 2003 through 2007, and to zero in 2008.
3. Accelerated Reduction of Marriage Penalty: The standard deduction for married couples is increased to double the amount of the standard deduction for single taxpayers in 2003 and 2004. The width of the 15-percent tax bracket for married couples is increased to twice the width for single taxpayers in 2003 and 2004. These provisions were scheduled to phase-in over the period between 2005 and 2009.
4. Accelerated Increase in Child Tax Credit: The amount of the child tax credit is increased to $1,000 in 2003 and 2004 (from $600), accelerating a phase-in over the period between 2005 and 2010.
5. Increase in Small Business Expensing for New Investment: The amount of investment that may be immediately deducted by small businesses is increased from $25,000 to $100,000 beginning in 2003.
6. AMT Hold-Harmless Relief: To ensure that the benefits from the acceleration of the tax reductions are not reduced by the AMT, the AMT exemption amount is increased by $9,000 for married taxpayers and by $4,500 for single taxpayers in 2003 and 2004.
7. Accelerated 10-Percent Bracket Expansion: The expansion of the 10-percent bracket scheduled for 2008 is accelerated to apply in 2003 and 2004. The endpoint of the 10-percent tax bracket increases from $12,000 of taxable income to $14,000 for married couples.
Yeah, we wouldnt want people to pay down bills, or god forbid, stuff the money in bank.. Remind me again what the banks are doing with their money? SITTING ON IT..
The problem isnt that we needed a "stimulus" we needed stability..
Oh they aren't sitting on it. They're busy giving quarter million dollar bonuses to the non-performing fat at the top of the barrel.....
If it had been only fannie & freddie we could have gotten through this.
Quote:
Originally Posted by joseph107
-mindset of gov that home ownership is a right
So wait, the government made it POSSIBLE for more people to buy homes and the PEOPLE bought the homes?
Sounds like a FREEDOM that maybe some people weren't ready to handle, eh?
Quote:
Originally Posted by joseph107
-historically low interest rates by fed
Yeah, noticed that the peak of the housing market was SMACK dab in the middle of the Bush years and he did NOTHING to slow it down (I guess cause that would be the government "getting in the way" right?)
Quote:
Originally Posted by joseph107
Although many don't like Wall Street, the government created the problem and they were in it's crosshairs
Bull!!! The government freed up the banks to do what they did by deregulating. The fact that the banks dove in the outhouse without a snorkle isn't the fault of the government UNLESS you are attempting to claim that it was the government's fault for NOT regulating the banks more.....
You are claiming that we would be best off if the government just got out of it and that is essentially what they did. They let the derivatives market go unchecked and here we are!!!
You can't claim that it's the government's fault for DE-regulating while trying to make the argument that it's best if the government stops acting as a "middle man".....
it's really unbelievable. Banks were forced to lend to people who were unqualified. Political pressure resulted in mortgage back securities with bad loans packaged in them.
No they weren't. There are PLENTY of banks who didn't loan to those who were unqualified.
Quote:
Originally Posted by joseph107
Now people blame capitailism?
You're claiming that the government created the derivatives market? Wrong!!!
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Buruea of Labor Statistics Cites Real Unemployment at 17.5%
