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Well I just watched Cantors news conference and as expected, he was very vague, but whoo whoo, they have a blue print with no details, no figures but a lot of digs at both the President and the Congressional Democrats budget...
But remember those same Corporations that are taking jobs out of the United States...Well they should be happy their getting massive tax breaks. Take a look at the transcript from Boehners press conference, Its hilarious can't wait for the video
Its like someone telling you, i have blue prints for your results, there better than the other guys, the other guy results have too much detail and too many figures, our results are much better, they'll cut out a lot of the cutting, where? we'll tell you next week.
Maybe intead of going to the Spears concert or having beef briskets down the street from the white house, those same republicans should have been working on the budge?
It is guaranteed to contain tax cuts for the wealthy and even more borrowing than Obama's plan. I would prefer a budget that provided plenty of infrastructure spending, support for rail transport and improvements to national recreation lands paid for by borrowing and an steep increase in the top tax rates for the folks in the 85 percent bracket and above.
I'll reserve judgement. If the budget contains tax cuts AND spending cuts, I might support it.
It would help if they also provided an idea of what the cost of tax cuts would be. Tax cut is an easily bought rhetoric, rarely questioned, so they don't need the feel to. And when they did the last time around (in 2003), the associated cost was $726B, and were frowned upon. Tax cuts have also shown to increase deficits. It happened under Reagan in the early 80s (recovered just a little after he raised taxes later, and especially around 1987-88), and then again under Bush.
An argument could be made that neither Reagan nor Bush made spending cuts to go with tax cuts, but then, if 10% spending cuts were made to go with tax cuts that reduced revenues by 10%, we would have a status quo, and left completely at the mercy of businesses' plan to help recover the economy, at a time when they are the ones cutting down investments and hiring (especially at home).
This, while ensuring a status quo on policies (especially energy) that guarantees another debacle due to backward thinking down the road.
Even though taxes were extremely low under Bush than under Carter, Reagan, Bush Sr and Clinton, it also happens to be the only presidency under which the income showed a negative growth, lending went up exponentially (created the bubble, and savings was taken off the table with low interest rates). It helped create a fake economy, and kept the economy out of recession solely on the strength of housing market (bubble). The economy was never healthy under Bush, it never recovered since the 2001 recession was thru.
Tax cuts are meaningless without spending cuts. I will agree that the GOP is out of touch with basic economics if they think tax cuts will really help without simultaneous spending cuts.
Tax cuts are meaningless without spending cuts. I will agree that the GOP is out of touch with basic economics if they think tax cuts will really help without simultaneous spending cuts.
Tax cuts are meaningless without spending cuts. I will agree that the GOP is out of touch with basic economics if they think tax cuts will really help without simultaneous spending cuts.
You know what, now i believe we have a debate. Now i believe that we're starting to see that both sides need to get their acts together and come up with a workable budget, workable stimulus plan, workable bill for EVERYONE and stop working in a vacuum and acting like children.
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