Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Bush tax cuts took in $2.7 TRILLION dollars less from 2000-2008, than had the tax rates stayed at 2000 levels. That's roughly $337 Million per year less than we should have collected.
Out of those EIGHT years, in SIX of those years income's declined. Out of the two positive income years even when they are combined they only exceed the other six once.
Average incomes fell. Average taxpayer income was down $3,512, or 5.7 percent, in 2008 compared with 2000, President Bush's own benchmark year for his promises of prosperity through tax cuts.
...
In only two of the eight Bush years, 2006 and 2007, were average incomes higher than in 2000, but the gains were highly concentrated at the top. Of the total increase in income in 2007 over that in 2005, nearly 30 percent went to taxpayers who made $1 million or more.
The tax cuts cost $1.8 trillion in the first eight years, according to an analysis by the Tax Policy Center, whose reliability the last administration went out of its way to praise. Those cuts were heavily weighted toward the people candidate George W. Bush famously called "haves and the have-mores . . . some people call you the elite. I call you my base." In the two years since 2008, the cuts' total cost grew to $2.3 trillion, the Tax Policy Center estimated.
And the argument for extending Bush tax cuts for the rich....goes up in smoke. ~
you are making a false conclusion. dont forget that there was a recession that started during the clinton administration, and then there were the attacks on 9/11, and the resulting further downturn in the economy. once the economy turned around, tax revenues were back on the rise, in fact the deficit in 2006 was $160 billion.
Bush tax cuts took in $2.7 TRILLION dollars less from 2000-2008, than had the tax rates stayed at 2000 levels. That's roughly $337 Million per year less than we should have collected.
Out of those EIGHT years, in SIX of those years income's declined. Out of the two positive income years even when they are combined they only exceed the other six once.
And the argument for extending Bush tax cuts for the rich....goes up in smoke. ~
337 million less than "WE" should have collected? Oh, you you are part of the federal government? Just who do you think the gov't gets their money from? ok, I'll tell you... it is WE THE PEOPLE who pay those taxes
So, when you say that "we" collected the money... you need to remember who pays taxes in the first place
Spending money causes debt. One cannot point a finger at "tax cuts" while not also looking at spending simultaneously. But, I suspect progressives who are stuck on spending other peoples money only see a problem with the purse strings being taken away from them instead at their own irresponsible behavior.
Spending money causes debt. One cannot point a finger at "tax cuts" while not also looking at spending simultaneously. But, I suspect progressives who are stuck on spending other peoples money only see a problem with the purse strings being taken away from them instead at their own irresponsible behavior.
Well said and thank you for pointing out an oft repeated characteristic of the progressive mind set.
Gotta love all the right wing ignorance and world famous repug "twist and blame" Clinton gave us the biggest surplus in US history and handed W the road map to keep it going. He tore it to shreds and went on a spending spree for his rich cronies. 1.2 trillion to big banks that screwed over the american people, a war we were lied to about and never should have gone in the first place, tax cuts for the rich,...all these failed policies caused us the go from the biggest surplus, to the biggest deficit in history.
It take a real idiot to pull that one off,..
Gotta love all the right wing ignorance and world famous repug "twist and blame" Clinton gave us the biggest surplus in US history and handed W the road map to keep it going. He tore it to shreds and went on a spending spree for his rich cronies. 1.2 trillion to big banks that screwed over the american people, a war we were lied to about and never should have gone in the first place, tax cuts for the rich,...all these failed policies caused us the go from the biggest surplus, to the biggest deficit in history.
It take a real idiot to pull that one off,..
maybe Clinton should have invested some of that surplus into our military and anti-terror operations? would we have prevented 9-11?
Clinton's tax and economic policies created 23 million jobs. Bush's tax and economic policies created 3 million jobs.
Obama??? I hear crickets
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
