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Let alone the fact that tax cuts increased revenues, because it increased the economy, and revenues to the government have remained relatively the same as a percentage of GDP for nearly 70 years now..
Anyone who thinks tax cuts are responsible for debt increases, shouldnt be starting threads discussing "huge debts" and not expect to be laughed at.
It's not that hard to increase federal tax revenues. Just about every president in the 20th century increased tax revenues. The key is the RATE that tax revenues increase. In that particular area the Bush 43 administration has the poorest record in terms of tax revenue increases of any two term post World War II presidential administration.
Historical Tax Revenue
George W. Bush Jr.
All figures are trillions of dollars
2001 - $1.9911
2002 - $1.8531
2003 - $1.7823
2004 - $1.8801
2005 - $2.1536
2006 - $2.4069
2007 - $2.5680
2008 - $2.5240 Increase from beginning to end of term: 26.56%
Highest Marginal Tax Rate 2003 -39.6%
Lowest Marginal Tax Rate 2004 -35%
Harry Truman
Increases in tax revenue
Harry Truman
1945 - $45.2 billion
1952 - $66.2 billion Increase - 46.46%
Highest Marginal Tax Rate 1945 - 94.0%
Lowest Marginal Tax Rate 1946 - 91%
Bill Clinton
1993 - $1.1543 trillion
2000 - $2.0252 trillion Increase - 75.43%
Highest Marginal Tax Rate - 39.6%
Not only was the rate of increases to federal revenue the worst of any two term post World War II presidential adminstration so was the GDP quarterly growth rate year over year and the number of jobs added. The Bush 43 administration in many ways HAS THE WORST ECONOMIC RECORD IN THE PAST 70 YEARS of any presidential administration.
President Bush has presided over the weakest eight-year span for the U.S. economy in decades, according to an analysis of key data, and economists across the ideological spectrum increasingly view his two terms as a time of little progress on the nation's thorniest fiscal challenges.
The number of jobs in the nation increased by about 2 percent during Bush's tenure, the most tepid growth over any eight-year span since data collection began seven decades ago. Gross domestic product, a broad measure of economic output, grew at the slowest pace for a period of that length since the Truman administration. And Americans' incomes grew more slowly than in any presidency since the 1960s, other than that of Bush's father.
If nothing else the Bush 43 administration showed the complete failure of "Tricke Down Economics" in terms of significantly increasing tax revenue, employment growtth or GDP.
Get my sarcasm....we're reaching a point of no return...we can't keep addng to our debt regardless of who's in office.
Quote:
Originally Posted by TheDirector
So deficit spending is OK as long as a Republican does it?
Answer: I guess not
I specifically didn't use democrat/republican or liberal/conservative when I left my reply yet, that's what you got out of it....you turned it into a democrat vs. republican partisan issue...that's all you're able to see.
What I did specifically say was, "regardless of who's in office".
Let me say it a different way and we'll see if you get it this time. Let's pretend we're in a bus that's 10 feet away from going over the side of a cliff. There's two bus drivers, one is a republican and the other a democrat. The republican is sitting in the driver's seat and the bus rolls 5 feet before he steps on the brake and stops it. Then the democrat sitss in the driver's seat and the bus rolls 4 feet before he steps on the brake and stops it. I jump up and yell, "What ever you do, don't let the bus roll another foot".
Then you jump up and say, "So it's OK if the bus rolls 5 feet as long as it's a republican that's driving?"
The bus can't be allowed to roll another foot regardless of who's driving....get it?
Sorry............. Who was in Power when the Country went into the worse recession ever???????????
And who is in power right now as we speak!!!!!!!! with the worse economy ever, still going downhill. Worse worse housing criris, ever to happen, values plummenting so low on homes, and will continue to fall. Unemployment your Dems can spin it any way they choose, i have seen first hand what unemployment does to middle aged men, who have lost a job and a home. Not under any one else under Obama, infact 14 families in total. Who is in power, with this economy that sucks, is this really the Hope and Change you like, because most of us who live in the real world, know this is not the change we bargained for!
Oh and by the way, your Man does not have a problem with knowing how to spend, while he wants everyone else to tighten their belt!
If the Republican Party cannot keep their own Party out of huge debt then how could they solve America's debt problem?
The GOP started this year in $23,000,000 worth of debt and yet they say they somehow know how to solve America's debt problem.
Seems to put me in mind of the old saying...............
"Action talks and B/S walks"
People seem to forget why the Republican party was resoundly defeated in 2008............. They brought the Country to its knees. If you want it to happen again............ Vote GOP.
Oh cry me a River! and guess what you obviously do not live in the real world, because as we speak, your Man has brought us to our knees in debt, and he does not have a problem with spending. Obviously Obama does not know what to do to imporve our economy. Spin, it, twirl it, any way you choose, Obama, was obiously not the Man most thought he was. Community organizer yes, bully yes, knowing how to solve the problems that need attention, no. Policies that suck, you can only fool some of the people some of the time, guess what, they then wake up!
So deficit spending is OK as long as a Republican does it?
Deficit spending is ok as long as it grows the economy. This is true regardless of political affiliation doing the spending. The problem is, Democrats routinely DONT GROW THE ECONOMY anywhere close to the amount spent. Lets not even begin to discuss the liberal inability to comprehend that TAX CUTS ARE NOT SPENDING
If nothing else the Bush 43 administration showed the complete failure of "Tricke Down Economics" in terms of significantly increasing tax revenue, employment growtth or GDP.
On the contrary.. It shows liberals like to make up bull **** and ignore facts...
The CBO says you are WRONG.. Federal Tax Revenues from 2003 to 2006 Had revenues grown at the same rate as the overall economy between 2003 and 2006, federal receipts would have increased by only $373 billion. The other $252 billion of the actual increase in revenues represents growth in excess of GDP growth
Let alone the fact that revenue as a percentage of GDP remained relatively the same for the last SEVENTY YEARS, regardless of the tax rate charged.
Only a Democrat can call periods of time with job growth a failure, and do it with a straight face, and get high 5vd by others for saying stupid things. According to you, the only thing that matters is growth in federal revenues, so why dont we tax everyone at 100%, surely the federal government revenues would skyrocket and the economy would boom, right? Cant believe you believe such nonsense..
I prefer not to trust government strip them of their power and their money and destory the IRS.
Then the only thing you can trust is yourself, your gun and your freedom to defend it.
Sorry but giving the government our money has not given us anything other then debit, less freedoms and more nanny and police state messures.
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and guess what you obviously do not live in the real world,
Policies that suck, you can only fool some of the people some of the time, guess what, they then
