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But the real jolt for tax-cutting opponents was that the 03 Bush tax cuts also generated a massive increase in federal tax receipts. From 2004 to 2007, federal tax revenues increased by $785 billion, the largest four-year increase in American history. According to the Treasury Department, individual and corporate income tax receipts were up 40 percent in the three years following the Bush tax cuts. And (bonus) the rich paid an even higher percentage of the total tax burden than they had at any time in at least the previous 40 years. This was news to theNew York Times, whose astonished editorial board could only describe the gains as a “surprise windfall.”
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The following is Americas "Historical Federal Receipt and Outlay Summary" from 1940-2014. Receipt= tax revenue, Outlay= spending.
The above was the largest consecutive revenue decrease since the 1940's.
Or look at it this way,
Clinton was in office from 1993 to 2001.
1993 revenues- $1.1 trillion.
2001 revenues- $1.991 trillion.
(Clinton had a $900 billion dollar revenue increase.)
GW Bush was in office 2001-2009
2001 revenues- $1.9 trillion.
2009 revenues- $2.1 trillion
(Bush had a $200 billion dollar revenue increase.)
Obama was in office from 2009-today.
2009 revenues- $2.1 trillion
2014 revenues- $3 trillion
(Obama had a $900 billion dollar revenue increase.)
Republicans get their information greatly from Fox news. And studies show that about 60% of the things Fox news says are false, untrue, or lies (and CNN and MSNBC are not far behind in the false statements and lies they tell viewers.)
The above was the largest consecutive revenue decrease since the 1940's.
Or look at it this way,
Clinton was in office from 1993 to 2001.
1993 revenues- $1.1 trillion.
2001 revenues- $1.991 trillion.
(Clinton had a $900 billion dollar revenue increase.)
GW Bush was in office 2001-2009
2001 revenues- $1.9 trillion.
2009 revenues- $2.1 trillion
(Bush had a $200 billion dollar revenue increase.)
Obama was in office from 2009-today.
2009 revenues- $2.1 trillion
2014 revenues- $3 trillion
(Obama had a $900 billion dollar revenue increase.)
Republicans get their information greatly from Fox news. And studies show that about 60% of the things Fox news says are false, untrue, or lies (and CNN and MSNBC are not far behind in the false statements and lies they tell viewers.)
What good is Revenue if it goes to Garbage projects and does not help the economy?
And just putting a President next to revenues does not give the whole story.
There is also this little thing we call Congress that has a bit of power.
Also the Fed has just a bit of input.
Its basically monkeying around. Republican foot soldiers are absolute idiots. That is why you'd see them speaking from both ends on economy as you just did: "Economy is doing well because republicans...". Then flip around... "(The same) economy is doing terrible because Obama..."
" Republican foot soldiers are absolute idiots."
As the say,"When you have NOTHING of value to say, throw out insults."
I'll just consider the source and let it go at that.
The above was the largest consecutive revenue decrease since the 1940's.
Or look at it this way,
Clinton was in office from 1993 to 2001.
1993 revenues- $1.1 trillion.
2001 revenues- $1.991 trillion.
(Clinton had a $900 billion dollar revenue increase.)
GW Bush was in office 2001-2009
2001 revenues- $1.9 trillion.
2009 revenues- $2.1 trillion
(Bush had a $200 billion dollar revenue increase.)
Obama was in office from 2009-today.
2009 revenues- $2.1 trillion
2014 revenues- $3 trillion
(Obama had a $900 billion dollar revenue increase.)
Republicans get their information greatly from Fox news. And studies show that about 60% of the things Fox news says are false, untrue, or lies (and CNN and MSNBC are not far behind in the false statements and lies they tell viewers.)
Congratulations on attempting to divert from the truth. Attempt fail, big time.
Lets' see. Your article states.
"The first year of any incoming president term is saddled—for better or for worse—with the budget set by the president whom immediately precedes the new occupant of the White House. Indeed, not only was the 2009 budget the property of George W. Bush—and passed by the 2008 Congress—it was in effect four months before Barack Obama took the oath of office."
The FACTS are:
"The United States federal budget for fiscal year 2009 began as a spending request submitted by President George W. Bush to the 110th Congress. The final resolution written and submitted by the 110th Congress to be forwarded to the President was approved by the House on June 5, 2008.[3] The final spending bills for the budget were not signed into law until March 11, 2009 by President Barack Obama, nearly five and a half months after the fiscal year began."
A simple question. What was the debt when Obama took office? And what is it now?
Last edited by Quick Enough; 07-07-2015 at 03:12 PM..
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