Quote:
Originally Posted by Iamme73
conservatives are the same people whose cheer leading led to the Bush Tax cuts and yet they don't understand that those tax cuts have GREATLY added to the budget deficits and national debt.
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I would like to see the proof you have that the Bush/Obama Tax Cuts have greatly added to the budget deficit. Or are you spouting the Demoncratic Party line spewed by Howard Dean?
After the original Bush Tax Cuts took effect in 2001 and 2003, revenues went up for the government. These tax cuts were in response to a recession that was occurring when they took office in 2001. In 2005 the rich paid more in taxes than they had in the previous 20 years, something the left I am sure, loves. Growth from 2001-2004 went up and in 2004 GDP was the highest in 20 years. Unemployment also went down.
What happend then? Mega-regulations from Sarbanes-Oxley, Fannie and Freddie (government) forcing themselves into private lending markets forcing private lenders to launch even riskier ventures to stay profitable. This led to many schemes collapsing in on themselves and taking the economy out too.
That has nothing to do with the Bush tax cuts. The Bush tax cuts helped the economy recover from the 2000-2001 recession and created some of the greatest economic activity this country has ever seen.
You can blame the spending, not the taxes for all of this. This all proves once again, that we do not have a revnue problem in this country, we have a SPENDING problem.
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