So How Did the Bush Tax Cuts Work Out for the Economy?

[BFT3K]

http://www.tax.com/taxcom/taxblog.ns...9?opendocument

[GatorB]

In the two years since 2008, the cuts' total cost grew to $2.3 trillion, the Tax Policy Center estimated.

So about 18% of the TOTAL federal defiicit can be attributed to the Bush tax cuts. Let not forget the medicare prescription drug act passes by a GOP controlled Congress and singed by Bush. How much has that cost another $500 billion so far? How about the pointless Iraq war? That's another 2 trillion?

[Major (Tom)]

In the two years since 2008, the cuts' total cost grew to $2.3 trillion, the Tax Policy Center estimated.

So about 18% of the TOTAL federal defiicit can be attributed to the Bush tax cuts. Let not forget the medicare prescription drug act passes by a GOP controlled Congress and singed by Bush. How much has that cost another $500 billion so far? How about the pointless Iraq war? That's another 2 trillion?

I believe that wars do not count towards the deficit.
ds

[Major (Tom)]

http://www.tax.com/taxcom/taxblog.ns...9?opendocument

But let me ask you this my liberal friend. What do you propose? It seems that both political systems don't work for the overall health of the economy; at least whilst in a recession. So the only way is to make money regardless; and if someone isn't making money, well, it's kind of tough shit on them. That is how the world works. Those who make money shouldn't be penalized for it.

Also, what happened with your boy Steve Jobs? He's becoming the antithesis of what the mac cult is about. It's funny how Bill Gates is more of a philanthropist than Jobs, and Jobs is more of a techno nazi than Gates. The mac cult is just too proud to admit that there messiah actually could possibly be the anti-christ.
Duke

[IllTestYourGirls]

Since the whole article was a joke lets play a little game.

The Bush tax cuts saved or created 5 million jobs. Prove me wrong.

[12clicks]

And here we have a perfect example if why the idiot left on this board still live with their parents.
Tax cuts cost nothing.

[directfiesta]

And here we have a perfect example if why the idiot left on this board still live with their parents.
Tax cuts cost nothing.

Don't give up... and keep hope.... you will eventually be able to have your own place .

[woj]

But let me ask you this my liberal friend. What do you propose? It seems that both political systems don't work for the overall health of the economy; at least whilst in a recession. So the only way is to make money regardless; and if someone isn't making money, well, it's kind of tough shit on them. That is how the world works. Those who make money shouldn't be penalized for it.

Also, what happened with your boy Steve Jobs? He's becoming the antithesis of what the mac cult is about. It's funny how Bill Gates is more of a philanthropist than Jobs, and Jobs is more of a techno nazi than Gates. The mac cult is just too proud to admit that there messiah actually could possibly be the anti-christ.
Duke

gee, 4th post about the economy and both "nazi" and "mac" have been already been brought up...

(I'm just messing with ya )

[Vendzilla]

Great strategy, blame the old president for the problems that the present president has with the incoming congressmen that haven't taken office yet, it's brillant!

[directfiesta]

Great strategy, blame the old president for the problems that the present president has with the incoming congressmen that haven't taken office yet, it's brillant!

Repeat of when Obama was elected but not yet in office .... Worked for you then ....

[Barry-xlovecam]

The economy is in great shape now, isn't it?

[Vendzilla]

Repeat of when Obama was elected but not yet in office .... Worked for you then ....

I didn't have a problem with Barry till he started ignoring the GOP. Thats when I realized he wasn't the leader of the people, he was the leader of the democrat party.
But two years of a federal budget deficit of 2.5 trillion dollars didn't help him much in my eyes

[BFT3K]

I believe that wars do not count towards the deficit.
ds

Of course wars contribute to the deficit. Any expenses that we take on, that we have to borrow money to pay for, contributes to the debt. War is not excluded. In fact, it is a big part of the debt - today, and then again tomorrow, when we have to pay for the damages (ie veteran healthcare, etc.).

[dyna mo]

I believe that wars do not count towards the deficit.
ds

President Bush didn't count the cost of the wars as part of the national debt but the deficit continued to grow after Democrats took control of Congress in 2006. Once President Obama, in a move toward transparency, added the cost of the wars to the national deficit, the debt grew exponentially.

Also, the iraq war and the war in afghanistan are the 1st 2 wars in american history that were not funded via taxes/tax increase. we have borrowed that money.

[BFT3K]

But let me ask you this my liberal friend. What do you propose? It seems that both political systems don't work for the overall health of the economy; at least whilst in a recession. So the only way is to make money regardless; and if someone isn't making money, well, it's kind of tough shit on them. That is how the world works. Those who make money shouldn't be penalized for it.

Duke

Tax cuts for everyone making less than $250K per year should be extended at this time, so 98% of the people do not see a tax hike.

This tax break applies to EVERYONE, including those who make more than $250K. It is a tax break for EVERYONE UP TO $250K.

The tax cuts for income OVER $250K should expire. It is only around 4%, but it will add at least $700 Billion to our debt over the next ten years, as it is not funded at all.

To say this extra gift to the rich helps create jobs is solidly bullshit. Trickle down economics is a myth. If you want to stimulate the economy the last people you need to fund are millionaires and billionaires.

I'm not sure what to say about your Steve Jobs rant, as I don't see how it applies to taxes, but I agree with you, that he has become quite a douche.

[Vendzilla]

I think a cut in spending by the government should happen before any tax cut is taken away

[BFT3K]

I think a cut in spending by the government should happen before any tax cut is taken away

Great, what do you want to cut?

The Teapublicans have been making the blanket statement that government spending needs to decrease, the government needs to shrink, the debt needs to be reduced, jobs need to be created, and taxes need to be lowered.

Fine, let's do it! I'm all for it!

Of course they have NO PLAN WHATSOEVER, but it sure sounds good, right?

THEY HAVE NO DETAILS but it sure sounds great!

Hey, maybe you should vote for the "Fantasy" party next time around! They stand for larger cocks for all guys, bigger tits for all gals, and free bags of money every Monday and Friday! They also promise peace on earth.

Sounds great, right?

VOTE FANTASY PARTY 2012 - PASS IT ON!

[IllTestYourGirls]

Great, what do you want to cut?

The Teapublicans have been making the blanket statement that government spending needs to decrease, the government needs to shrink, the debt needs to be reduced, jobs need to be created, and taxes need to be lowered.

Fine, let's do it! I'm all for it!

Of course they have NO PLAN WHATSOEVER, but it sure sounds good, right?

THEY HAVE NO DETAILS but it sure sounds great!

Hey, maybe you should vote for the "Fantasy" party next time around! They stand for larger cocks for all guys, bigger tits for all gals, and free bags of money every Monday and Friday! They also promise peace on earth.

Sounds great, right?

VOTE FANTASY PARTY 2012 - PASS IT ON!

Just because you are not listening or do not like what you hear, does not mean some of them don't have plans.

[BFT3K]

Just because you are not listening or do not like what you hear, does not mean some of them don't have plans.

Do tell.

[Vendzilla]

Great, what do you want to cut?

1.Eliminate the Presidential Election Fund, a federal program that provides matching funds to political candidates during Presidential primaries, certain third-party candidates, and funds for political conventions. In the 2008 Presidential election the candidates raised over $1.3 billion from individuals and PACs; do they really need to supplement that with taxpayer money?
2.Prohibiting taxpayer-subsidized union activities by prohibiting federal employees from being paid by the government for performing union functions. Currently some federal employees spend up to 100% of their workweek, paid by taxpayers, doing work for their union. Federal employees unions collect millions in revenue each year and spend significant amounts on political activities and lobbying; should they also be subsidized by the taxpayer for their official functions?
3.Terminate the Department of Housing and Urban Development program that provides individuals with $25,000 stipends for completing their doctoral dissertations. Recently taxpayers have financed research on media strategies for housing policy and the use of eminent domain for urban redevelopment. Why should families who are struggling to pay for their children?s college also be asked to fund stipends from the government for those who want to write their dissertation on certain government-preferred policies?
4.Terminate the new alternative welfare program, recently created to incentivize states to increase their welfare caseloads without requiring able-bodied adults to work, get job training, or otherwise prepare to move off of taxpayer assistance. Reforming the welfare program was one of the great achievements of the Republican Congress in the mid 1990s, saving taxpayers billions of dollars and ending the cycle of dependency on welfare. This new program ushered in by Democrats is merely a backdoor way to undo those reforms.
5.Focus federal economic development assistance on areas of need. The Community Development Block Grant program currently funds a wide range of local economic development activities. While it is advertised as a way to help low-income communities, funds are also dispersed to communities with income well-above the national average. A recent study found that the community of Newton, Massachusetts, with a per capita income over twice the national average, was receiving $28 per person in CDBG funds. At the same time, other communities with income 25% below the national average were receiving $10 per person.

[Vendzilla]

http://www.republicanwhip.house.gov/YouCut/

[blackmonsters]

Repeat of when Obama was elected but not yet in office .... Worked for you then ....

How fast did he forget?

[Vendzilla]

Cut the New Non-Reformed Welfare Program ($25 Billion Savings)

Eliminate Federal Employee Pay Raise ($30 Billion Savings)

Reform Fannie Mae and Freddie Mac ($30 Billion Savings)

Sell Excess Federal Property ($15 Billion Savings)

Prohibit Hiring New IRS Agents to Enforce Health Care Law ($15 Billion Savings)

Taxpayer Subsidized Union Activities ($1.2 Billion Savings)

Prohibit Stimulus Funding for Promotional Signage (Tens of Millions)

Prohibit Sleeper Car Subsidies on Amtrak ($1.2 billion Savings)

Bipartisan Proposal to Terminate AEITC ($1.1 billion Savings)

Require Collection of Unpaid Taxes From Federal Employees ($1 billion Savings)

Reduce Government Employment to 2008 Levels ($35 billion Savings)

[BFT3K]

1.Eliminate the Presidential Election Fund, a federal program that provides matching funds to political candidates during Presidential primaries, certain third-party candidates, and funds for political conventions. In the 2008 Presidential election the candidates raised over $1.3 billion from individuals and PACs; do they really need to supplement that with taxpayer money?
2.Prohibiting taxpayer-subsidized union activities by prohibiting federal employees from being paid by the government for performing union functions. Currently some federal employees spend up to 100% of their workweek, paid by taxpayers, doing work for their union. Federal employees unions collect millions in revenue each year and spend significant amounts on political activities and lobbying; should they also be subsidized by the taxpayer for their official functions?
3.Terminate the Department of Housing and Urban Development program that provides individuals with $25,000 stipends for completing their doctoral dissertations. Recently taxpayers have financed research on media strategies for housing policy and the use of eminent domain for urban redevelopment. Why should families who are struggling to pay for their children?s college also be asked to fund stipends from the government for those who want to write their dissertation on certain government-preferred policies?
4.Terminate the new alternative welfare program, recently created to incentivize states to increase their welfare caseloads without requiring able-bodied adults to work, get job training, or otherwise prepare to move off of taxpayer assistance. Reforming the welfare program was one of the great achievements of the Republican Congress in the mid 1990s, saving taxpayers billions of dollars and ending the cycle of dependency on welfare. This new program ushered in by Democrats is merely a backdoor way to undo those reforms.
5.Focus federal economic development assistance on areas of need. The Community Development Block Grant program currently funds a wide range of local economic development activities. While it is advertised as a way to help low-income communities, funds are also dispersed to communities with income well-above the national average. A recent study found that the community of Newton, Massachusetts, with a per capita income over twice the national average, was receiving $28 per person in CDBG funds. At the same time, other communities with income 25% below the national average were receiving $10 per person.

All of those cuts COMBINED would not even equal 25% of the savings achieved by simply allowing the Bush tax giveaway to the rich, expire.

[Vendzilla]

How fast did he forget?

Read my response dip shit

[Vendzilla]

All of those cuts COMBINED would not even equal 25% of the savings achieved by simply allowing the Bush tax giveaway to the rich, expire.

Keep reading, besides that just a start
Cut the spending first

[BFT3K]

Cut the New Non-Reformed Welfare Program ($25 Billion Savings)

Eliminate Federal Employee Pay Raise ($30 Billion Savings)

Reform Fannie Mae and Freddie Mac ($30 Billion Savings)

Sell Excess Federal Property ($15 Billion Savings)

Prohibit Hiring New IRS Agents to Enforce Health Care Law ($15 Billion Savings)

Taxpayer Subsidized Union Activities ($1.2 Billion Savings)

Prohibit Stimulus Funding for Promotional Signage (Tens of Millions)

Prohibit Sleeper Car Subsidies on Amtrak ($1.2 billion Savings)

Bipartisan Proposal to Terminate AEITC ($1.1 billion Savings)

Require Collection of Unpaid Taxes From Federal Employees ($1 billion Savings)

Reduce Government Employment to 2008 Levels ($35 billion Savings)

AND allow the tax cuts on the rich to expire ($700 to $800 Billion over 10 years). Everything you listed above, combined, does not achieve as much.

[BFT3K]

Keep reading, besides that just a start
Cut the spending first

Extending the unfunded tax breaks IS SPENDING!

[Vendzilla]

AND allow the tax cuts on the rich to expire ($700 to $800 Billion over 10 years). Everything you listed above, combined, does not achieve as much.

actually about 155 billion, lets focus on year one first
also, this is just the beginning
End the damn wars, that would save a crap load and why the fuck do we need an embassy there?

[Slutboat]

BFT3K - thanks for trying but these people are retarded from generations of inbreeding. I bet most of these Fox News brainwash victims have never left their state.

[dyna mo]

End the damn wars

[BFT3K]

Cut the New Non-Reformed Welfare Program ($25 Billion Savings)

Eliminate Federal Employee Pay Raise ($30 Billion Savings)

Reform Fannie Mae and Freddie Mac ($30 Billion Savings)

Sell Excess Federal Property ($15 Billion Savings)

Prohibit Hiring New IRS Agents to Enforce Health Care Law ($15 Billion Savings)

Taxpayer Subsidized Union Activities ($1.2 Billion Savings)

Prohibit Stimulus Funding for Promotional Signage (Tens of Millions)

Prohibit Sleeper Car Subsidies on Amtrak ($1.2 billion Savings)

Bipartisan Proposal to Terminate AEITC ($1.1 billion Savings)

Require Collection of Unpaid Taxes From Federal Employees ($1 billion Savings)

Reduce Government Employment to 2008 Levels ($35 billion Savings)

There are pros and cons to everything you have listed above, and to think these issues are simply black-and-white, is naive - no offense.

I don't have time to address this entire list right now, but let's just look at the first and last entry....

? Cut the New Non-Reformed Welfare Program ($25 Billion Savings) - this would take $25 billion out of our economy. The poorest people spend ALL of their money, so if your business caters to generic revenue (food, clothing, utilities, etc.), this move would reduce small business profits by $25 Billion. Is this a good move right now?

? Reduce Government Employment to 2008 Levels ($35 billion Savings) - so increasing the number of unemployed people is another potential fix?

Making lists is easy.

[Vendzilla]

There are pros and cons to everything you have listed above, and to think these issues are simply black-and-white, is naive - no offense.

I don't have time to address this entire list right now, but let's just look at the first and last entry....

? Cut the New Non-Reformed Welfare Program ($25 Billion Savings) - this would take $25 billion out of our economy. The poorest people spend ALL of their money, so if your business caters to generic revenue (food, clothing, utilities, etc.), this move would reduce small business profits by $25 Billion. Is this a good move right now?

? Reduce Government Employment to 2008 Levels ($35 billion Savings) - so increasing the number of unemployed people is another potential fix?

Making lists is easy.

Who said it was going to be easy to undo what the government has done?

Many families are doing without because of underemployment and unemployment, we have to get the government in order before we can move forward.

[tony286]

I didn't have a problem with Barry till he started ignoring the GOP. Thats when I realized he wasn't the leader of the people, he was the leader of the democrat party.
But two years of a federal budget deficit of 2.5 trillion dollars didn't help him much in my eyes

Barry didnt ignore them.shit he wanted one of them in his cabinet. All these fucked up half measures was barry trying to win their love. Obamacare is the dole plan rhe right put up against clintincare. They feed you all the bullshit but if they let him be successful the dems will control congress for 40 yrs like before. They wont let that happen. I wish now hilary had won at least she had balls

[cykoe6]

Threads like this always give you a good sense of who actually pays taxes and who does not. I have found that the people clamoring the loudest for higher taxes for others are usually the first people trying to evade paying their own taxes. Interesting how that works.

[Vendzilla]

Barry didnt ignore them.shit he wanted one of them in his cabinet. All these fucked up half measures was barry trying to win their love. Obamacare is the dole plan rhe right put up against clintincare. They feed you all the bullshit but if they let him be successful the dems will control congress for 40 yrs like before. They wont let that happen. I wish now hilary had won at least she had balls

Blame that on the DNC, they didn't want Hilary, they couldn't control her, at least I read that somewhere.
Hilary wanted to dump NAFTA, I was all for that

Barry is just one bad judgement call after another, he couldn't make anyone happy because that can't be done.
The GOP is revising their concept of healthcare reform, should be interesting at least. I agree we need something, but what Barry came up was so bad, that he and the congress and senate were excempt, along with 30 unions and companies, how the hell can that be a good thing?


Barry had to kiss so much ass to get it passed the whole thing smelled like shit

[Vendzilla]

BFT3K - thanks for trying but these people are retarded from generations of inbreeding. I bet most of these Fox News brainwash victims have never left their state.

Given that your parents were related before they married with 4 teeth between them, I can understand why you would love to hate a news agency that told the truth

[12clicks]

Threads like this always give you a good sense of who actually pays taxes and who does not. I have found that the people clamoring the loudest for higher taxes for others are usually the first people trying to evade paying their own taxes. Interesting how that works.

Exactly right.
Look at Bft3k. Is there any doubt he lives with his parents?

[BFT3K]

Exactly right.
Look at Bft3k. Is there any doubt he lives with his parents?

It's nice to know that you and cykoe6 are both earning over a quarter million dollars a year. I can see why you guys are on the side of free give-aways for the rich! Now it all makes sense!

You know, if I made more than $250k a year, the LAST place you would find me would be on a webmaster board, but then again, maybe you guys DON'T really make that much.

Could it be that the corporations have managed to convince you guys to actually campaign against your own best interests?

Naaaa, you guys are just too smart and wealthy to be herded in with the other sheeple, right?

[/sarcasm]

[ShellyCrash]

Barry didnt ignore them.shit he wanted one of them in his cabinet. All these fucked up half measures was barry trying to win their love. Obamacare is the dole plan rhe right put up against clintincare. They feed you all the bullshit but if they let him be successful the dems will control congress for 40 yrs like before. They wont let that happen. I wish now hilary had won at least she had balls

For the most part I agree with this. Obama lost his balls when he took office. If you spend your time trying to please everyone you wind up with a bunch of half assed measures that please no one.

When you get in office you can't be "campaigning". You gotta run your first 4 years like it could be your last because if things keep going like they're going there might not be a second term

[theking]

Great, what do you want to cut?

The Teapublicans have been making the blanket statement that government spending needs to decrease, the government needs to shrink, the debt needs to be reduced, jobs need to be created, and taxes need to be lowered.

Fine, let's do it! I'm all for it!

Of course they have NO PLAN WHATSOEVER, but it sure sounds good, right?

THEY HAVE NO DETAILS but it sure sounds great!

Hey, maybe you should vote for the "Fantasy" party next time around! They stand for larger cocks for all guys, bigger tits for all gals, and free bags of money every Monday and Friday! They also promise peace on earth.

Sounds great, right?

VOTE FANTASY PARTY 2012 - PASS IT ON!

Every single Tea Party candidate that I saw interviewed when asked what area/program of spending they would cut would not specify...even when pressed to do so. The same with every other politician...Republican or democrat. They all spew platitudes...but no specifics.

History shows that they all grow the size of government...increase spending...and increase the size of the deficit.

Tax cuts are not a solution...and tax increases are not a solution...without reducing spending or at the least freezing spending and increasing taxes to meet the current annual budget deficit...plus an additional amount to pay down the National Debt at a reasonable rate.

BTW...it is not the current Administration/Congress or the previous Administration/Congress that is responsible for the current economic problems...it is every Administration/Congress since and including the Reagan Administration/Congress.

I do not see the current Administration/Congress elect...doing a single thing that will help to bring the size of Government/Deficit/National Debt under control or that will benefit the economy.

[BFT3K]

BFT3K - thanks for trying but these people are retarded from generations of inbreeding. I bet most of these Fox News brainwash victims have never left their state.

They are not retarded - they are all just making boatloads of cash in 2010!

Tons of people here on GFY are making over $250k this year, didn't you know?

Must be the case, since they are adamantly defending the top 2% tax bracket, otherwise they would just be brain-dead Fox Noise retards, like you say.

That couldn't possibly be true, could it?

[directfiesta]

? Reduce Government Employment to 2008 Levels ($35 billion Savings) - so increasing the number of unemployed people is another potential fix?

Making lists is easy.

Why 2008 ? Because that is the year your hated president was elected ???

Why not 2007 , or 2005 , in fact 2002 ..... You should now that theincrease did not start in 2008 ... or is that 2008 a bit like B.C. ...

[Sausage]

Strong sense of entitlement in this thread.

[stocktrader23]

The thing that cracks me up the most is that the ignorant fuckers from this board that want to extend the tax cuts would benefit much more from letting them expire. They want to save a penny and cost themselves a dime in lost sales in the process.

Almost all of that 700 billion saved comes from people that are actually wealthy, not some pissant adult webmaster with a few million in the bank. You are being fucked as much as anyone with this current setup and are too stupid to realize it. The gap between rich and middle class is bigger than ever, on top of that the rich ARE NOT putting that money back into the economy where it eventually sends you more sales. They are sitting on it and laughing at your stupid ass fighting their fight for them.

Trickle down my ballsack.

[12clicks]

And the brilliance from mommy's basement continues.
Here's an idea, if instead of those that already pay for your world having their taxes raised, we had the bottom 47% of the country who pay nothing (most of you clowns) kick in something, the deficit would magically go down.
It's time for this country's leaches to (to steal your idiot left phrase) "pay their fair share"

[stocktrader23]

And the brilliance from mommy's basement continues.
Here's an idea, if instead of those that already pay for your world having their taxes raised, we had the bottom 47% of the country who pay nothing (most of you clowns) kick in something, the deficit would magically go down.
It's time for this country's leaches to (to steal your idiot left phrase) "pay their fair share"

He didn't ask about the deficit, he asked about the economy. Those 47% you hate so much spend almost 100% of the money they get in the, get this one, ECONOMY.

[theking]

And the brilliance from mommy's basement continues.
Here's an idea, if instead of those that already pay for your world having their taxes raised, we had the bottom 47% of the country who pay nothing (most of you clowns) kick in something, the deficit would magically go down.
It's time for this country's leaches to (to steal your idiot left phrase) "pay their fair share"

What do you consider to be a fair share...let us say for a family of four with an income of $20.000 per year...which is the case for much of that 47% number you are using.

[12clicks]

What do you consider to be a fair share...let us say for a family of four with an income of $20.000 per year...which is the case for much of that 47% number you are using.

Mom doesn't work and dad works part time while they shit out kids?
Sorry clown that's not representative of the 47% who pay zero.

[12clicks]

He didn't ask about the deficit, he asked about the economy. Those 47% you hate so much spend almost 100% of the money they get in the, get this one, ECONOMY.

But but but the government will use that money to grow the economy! (your idiot position, not mine)