Class War Rhetoric - Bush Tax Cuts Weren't Paid For and Added to the Debt

Historical Tax Revenue Tables clearly show that between 2003 when the Bush Tax Cuts took full effect until 2008 when Bush left office, tax revenues increased $3.3 trillion dollars on a cumulative basis (year over year), disproving the claim by the government that the Bush Tax Cuts weren't paid for and added to the debt.

Tax Revenue Chart
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=203

Category:

News & Politics

Tags:

• bust
• tax
• cuts
• obama
• debt
• deficit
• spending
• S&P
• downgrade

[cosmosgato]

I disagree that boom was the housing bubble fueled by low interest rates.

Worked out great huh?

[curtatlanta]

@cosmosgato The only other person who shares your view is Alan Greenspan. 

[behindtheline40]

I dont understand. How can eliminating a massive chunk potential tax revenue.... increase revenue ?

[curtatlanta]

@behindtheline40 If you really want to understand it, look up Andrew Mellon, the longest serving Treasury secretary, he literally wrote the book

[curtatlanta]

@behindtheline40 I dont think the bush taxcuts are responsible for the crash. I blame the "mark to market" rule change at FASB, the Fed who kept rates too low for too long, the SEC who was asleep at the wheel, Fannie Mae who was pushed by the Dem Congress to expand their balance sheet and buy up bad loans, etc. The tax cuts were 3%, the top tier went from 39% to 36%. That didnt crash the economy, it pullled up out of a downward spiral after 911.

[behindtheline40]

@curtatlanta But look what the bush taxcuts did to the economy after 5 years of being in effect. Sure, there were other factors involved, but under this logic there should have been a booming economy after Bush left office. The US economy was booming in the 50's and 60's..the 'golden years'. this was the same period when taxes were at their highest

[curtatlanta]

@afferch Am I making this up. Why not look for yourself. The tax data clearly shows it.

[curtatlanta]

@behindtheline40 Lots of reasons. Rich people earn more, report more, dont seek tax havens, invest in startups and existing businesses who hire employees who pay taxes, etc.

[thecomputergurukid]

Is this guy is a retard or is this is staire?

[afferch]

Yeah right! Obama just defended and extended the Bush tax cut's last December. The economy is in the shitter either way. You are the one making up fact and statistics and promoting class warfare.