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Republicans pushed harder than Democarts wanted, then they compromised.
Doesn't change the fact that the balanced-budget amendment and welfare reform bills were written by Republicans.
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No, raising taxes on the richest Americans won't hurt the economy. Can you show me where lowering taxes has created jobs? Reagan even had to raise taxes, and it still created jobs.
The two Reagan tax cuts were much bigger than his tax hikes. His tax hikes were supposed to involve Congress cutting spending, which didn't happen.
The economy always improves after tax cuts. John F. Kennedy knew it. Ronald Reagan knew it. And G.W. Bush knew it.
You found an opinion piece from Feb 2009 ( a couple of weeks after Obama took office) that says China might benefit from increased American spending as a result of stimulus spending that had yet to be passed.
The Heritage Foundation is a funny little organization. Here's a before and after. First the 2001 analysis, praising of the '01 tax cuts and then a 2007 weak defense on why the cuts didn't work.
America wasn’t the only one to benefit China State Construction Engineering Corp – won a Manhattan, New York subway ventilation project worth around $100 million funded by stimulus funds. Stimulus money going towards Chinese causes include: International Research Experiences for Students (IRES) U.S.-China Collaboration on Dinosaur Eggs and Education ($141,000 to date); HIV and Related High-risk Behaviors among Commercial Sex Male Clients in China ($90,484); Study of Coseismic Damage and Post-mainshock Healing on the Longmen-Shan Fault Ruptured in the 2008 M8 Wenchuan Earthquake in China ($108,558); Is the Tibetan Plateau Rising? ($327,277); Bioactive Compounds from the Biodiversity of China Vietnam ($400,000); _____________________________________
So, Chinese interests get contracts for $100 million out of a $787 billion stimulus bill (that's a small fraction of 1%) and you're maintaining that China is a greater beneficiary of the stimulus than America.
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Driller1: The Stimulus Bill did much better for China.
You can't use jobs as a determining factor as to if his stimulus worked or not because it's skewed by something that had zero to do with tax cuts and that was the housing debacle and OTC Derivatives.
Therefore, Obama's extension of the Bush era tax cuts will create no jobs. Right? I know they didn't create jobs, that is obvious. What isn't obvious is people who fail to realize Obama has done everything they criticize Bush for doing.
And on the Clinton chart. Clinton may have created tons of jobs due to the fact that he destroyed the Glass-Steagall Act. You know, that little thing that played a role in this current depression we are in... Of course, when you destroy regulation like that, the floodgates will open. Also, when you destroy regulation that kept the greedy at bay, shortly after those floodgates open, the walls will come crashing down.
Nice post and run. How about adding some of your own thought to that. The crux of the Bush tax cuts was that they borrowed money from the Chinese to pay people's taxes. In essence, they increased spending by borrowing. That stimulates the economy and creates jobs. Unfortunately, it also creates debt.
There is one in Matthews that is thriving. I realize that is too far for the OP, but evidence of one that is still around.
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Last edited by JustJulia; 04-18-2011 at 10:54 AM..
Reason: Deleted gibberish at bottom.
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