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Every time taxes were lowered tax revenue went up, and then the politicians and bureaucrats spent it all. When will democrats understand that?
That is factually incorrect (Which is why so many Conservatives come to the wrong conclusions.). It's also why the federal deficits are so severe now. In 2008 federal tax revenue actually declined from 2007 from 2.568 TRILLION to 2.524 TRILLION. They declined again in 2009 to 2.105 TRILLION.
George W. Bush was the worst two term president post World War II in terms of his ability to increase federal tax revenue. The inability to grow tax revenue while starting two wars is the single biggest reason we have the deficit issues this country is facing.
Also it's not just the increase in tax revenue IT'S THE RATE OF INCREASE OF TAX RECEIPTS. Here is list of two term presidential administrations and how well they grew tax revenue and how much federal spending increased.
Under George Bush:
During the Bush 43 Administration in 2001 total federal expenditures were 1.8629 trillion dollars. In 2009 total federal expenditures were 3.5177 trillion dollars. So total federal expenditures increased by 88.8%. Federal tax revenue increased by 26.56% during this administration.
Under Bill Clinton:
During the Clinton Administrations in 1993 total federal expenditures were 1.409 trillion dollars. In 2001 total federal expenditures were 1.8629 trillion dollars. So total federal expenditures increased by 32%. Federal tax revenue increased by 75% during this administration.
Under Ronald Reagan:
During the Ronald Reagan Administration in 1981 total federal expenditures were 678.2 billion dollars. In 1989 total federal expenditures were 1.143trillion dollars. So total federal expenditures increased by 68.53%. Federal tax revenue increased by 51.2% during this administration.
Under Richard Nixon - Gerald R. Ford:
During the Nixon and Ford Administrations in 1969 total federal expenditures were 183.6 billion dollars. In 1977 total federal expenditures were 409.2 billion dollars. So total federal expenditures increased by 122.87%. Federal tax revenue increased by 59.50% during this administration.
Under John F. Kennedy - Lyndon B. Johnson
During the Kennedy - Johnson Administrations in 1961 total federal expenditures were 97.7 billion dollars. In 1969 total federal expenditures were 183.6 billion dollars. So total federal expenditures increased by 87.92%.
Federal tax revenue increased by 62.76% during this administration.
Under Dwight D. Eisenhower
During the Eisenhower Administration in 1953 total federal expenditures were 76.1 billion dollars. In 1961 total federal expenditures were 97.7 billion dollars. So total federal expenditures increased by 28.38%. Federal tax revenue increased by 46.46% during the administration.
George W. Bush was the worst two term president post World War II in terms of his ability to increase federal tax revenue. The gap between the increase in tax revenue the increase federal expenditures is also the largest during his adminstration.
Despite the Republican claims to be the party of fiscal conservatism. George W. Bush Jr. Ronald Reagan and Richard Nixon all increased federal expenditures higher under their administrations than Bill Clinton did. In fact Reagan and Bush 43 had the highest increases in the rate of federal expenditures during their terms.
The two best presidential administrations we've had in the past 60 years in terms of federal expenditures growing SLOWER than federal tax receipts are Dwight D. Eisenhower and Bill Clinton.
The best way to grow the economy is through scientific and technical innovation and the growth of business through small business startups. The fallacy of modern Conservatives is that offering tax breaks to the wealthy and corporations will solve the economic problems of the United States. For the last ten years the corporations and wealthy for the most part are taking their profits and investment dollars and investing them in China, Indonesia, Viet Nam, the United Arab Emirates, Brazil, and other emerging markets around the world. Given them more money will allow them to do more of the same.
Last edited by JazzyTallGuy; 04-19-2011 at 12:32 PM..
Just proves that educated people value intellect more than money.
Unlike with intellect, many people with money did not work for it, or did little to earn it.
Money may buy a lot of things but intellect and class are not amongst them.
Lol, the poster really reveals why the left hates the wealthy, envy. The wealthy don't deserve it. The poster on the other hand is smart, works hard and deserves to be wealthy. I run across so many lefties like this, it is such a fascinating pathology.
Lol, the poster really reveals why the left hates the wealthy, envy. The wealthy don't deserve it. The poster on the other hand is smart, works hard and deserves to be wealthy. I run across so many lefties like this, it is such a fascinating pathology.
Who's pathology is being exposed here?
I did not mention right or left, nor hate.
You assume all wealthy are Republicans?
I was pointing out the difference between money and intellect.
As if requiring progressive tax rates is the same as giving someone part of your achievements?..sure.
Newsflash:
Every single Western Country in the World has progressive tax rates. And the progressive tax rates your Father, Grandfather, Great Grandfather, and Great Great Grandfather paid were more progressive than today.
Only in America is there this weird cult of rightwingers that will not stand up for their communities and family's well being.
If only you could damage your own lives that would be wonderful.
Unfortunately you drag the middle class and poor down with your crazy ideology.
Just proves that educated people value intellect more than money.
Unlike with intellect, many people with money did not work for it, or did little to earn it.
Money may buy a lot of things but intellect and class are not amongst them.
Actually you are wrong. DEAD WRONG. The VAST majority of millionaires are self made; through hard work and, more importantly, SACRIFICE. They gave up the jet ski's, large houses, fancy vacations, et al and live very frugal lives. They work, work, work somemore and save, save, and save even more.
I realize, in this day and age, that is a novel concept. However, just about anyone can be a millionaire if they are willing to work hard and save for it. Most people, even working at McDonald's will earn a million dollars in their lifetimes.
LOL. These students are recipients of wealth redistribution. They attend UC Merced - a public university in California -and I bet most get student aid.
That is factually incorrect (Which is why so many Conservatives come to the wrong conclusions.). It's also why the federal deficits are so severe now. In 2008 federal tax revenue actually declined from 2007 from 2.568 TRILLION to 2.524 TRILLION. They declined again in 2009 to 2.105 TRILLION.
There is much more going on that effects our economy then just tax rates. We have outside influences, energy costs, natural disasters, wars, onerous regulations, and other influences that either promote or depress the economy.
When taxes are lowered, their is more wealth in the hands of the people, which means there is more money flowing thru the economy, and there is more wealth creation. Our tax code is so screwed up that you can provide all the charts and graphs you want, and they mean nothing. GE paid no income taxes, that is all we need to know about whether or not lower or raising taxes matters.
We need to scrap our current tax code, and create something like a flat tax for people and corporations, with no more of the wealthy people and corporations lobbying politicians for tax loopholes and taxpayer funded subsides.
Don't forget Marx. They don't actually need to teach the man, just teach his ideology, you know, like instilling a foundation for class envy and redistribution of wealth.
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They don't actually need to teach the man, just teach his ideology, you know, like instilling a foundation for class envy and redistribution of wealth.
