Bush Tax Cuts Bankrupt The US!

GPS, with Fareed Zakaria, CNN, 1-18-2009

Category:

News & Politics

Tags:

• bush
• destroys
• america
• for
• our
• children

[jsgoodfella]

I cannot believe what a dumbass that indian guy is. He is a fucking liar. He showed no statistics on whether revenue decreased for the treasury. In fact, it increased.

[JesusSavesAtCitibank]

Income tax revenues under Bush were all lower in comparison to the Clinton years.

Through the end of 2008, total federal tax revenues relative to GDP had yet to regain their 2000 peak. There's broad consensus among even conservative economists that the Bush tax cuts (mostly to the wealthy) have had a substantial NET NEGATIVE impact on revenues, even taking into account any stimulative effect the tax cuts may have had, and any resulting revenue feedback effects.

~Wiki

tinyurl [dot] com/c2t6t6

[GDS1581]

I hear the argument constantly that reducing taxes on the rich creates jobs because the rich then have money to use to create jobs. If this is the case, why were the 2.4 million jobs lost between 2001 and 2008 while the rich were bebfitting from the Bush tax cuts? Shouldn't they have had the money to create jobs with the theory of "lower taxes creates jobs". Also, any jobs created by "rich" people due to these taxes were probably created in China.  Thanks!

[phillipmarch22]

@lillatmd No, I don't watch any main stream media news. I only watch C-Span. Why should my tax dollars go to a needless war that will end up costing $3 TRILLION dollars, (including VA costs), while I am alive? The baggers out there are bitching about a lot of stupid un-true shit, but the biggest one is government spending. Go to wiki and see how much the USA spent in 2008 on the military industrial complex. And they bitch about bailouts. What a joke!

[lillatmd]

@phillipmarch22 cop-out comment about Fox . I could say you watch MSNBC too. A station who cheers on Assange. Actually I watch all stations-not just what I want to hear-as liberals do.

[phillipmarch22]

@JesusSavesAtCitibank - Couldn't have said it better! Companies like GE and Microsoft, and thousands more paid $0.00 - None - Nada taxes in 2008 and 2009. Something is WAY wrong with that!

[phillipmarch22]

@jsgoodfella Fareed Zakaria is a genius. You can take what he says to the bank. Research what he says. I was hoping that Mr. Zakaria would be on President Obama's team. He is worldly and wise!

[phillipmarch22]

@lillatmd I can tell by your statements you probably watch Fox News and do not research what you are saying. I am going to try and send you an article on the facts of TARP.

[phillipmarch22]

@lillatmd Again, the Community Reinvestment Act had NOTHING to do with the crash! B-4 the crash, you would have to prove that you at least had a job. Show a pay-stub. Has nothing to do with color. Now if you go get a loan, whether you are black, white, yellow or purple, you have to fill out ALL the paperwork. Same as before the banks and loan agencies got greedy. Discrimination is not the issue what-so-ever.

[lillatmd]

@phillipmarch22 Yes ...if Banks did not agree to give loans out to poor people without assets the gov promised NOT to back them with FDIC certification. They could also be charged with discrimination(ring a bell?) for not lending money if applicant was of color. The banks were forced to give these loans as they would not be FDIC approved if they refused. Then everyone jumped into the game-

[gibblets17]

@GDS1581 no you can thank the unions for that.

[dalecampbl5]

these Republicans just flat out lie and hope that the catch phrase "rich create jobs" will force people to vote GOP...but in reality this nice booby trap is set so that the rich gets to keep all the money they make will still having some incentive to create jobs in China/India/South-East Asia (of course these are lower than minimum wage jobs with the shittiest imaginable working conditions)...once estate tax is abolished, there will be no reason why any of them wants to "create" jobs for YOU !!!

[dalecampbl5]

Jobs are created by demand...the vicious cycle of allowing the ultra rich to be come even ultra richer means that the only people with disposable income are the rich...so what jobs are they going to create? Limo drivers? Mansion builders? Yacht Makers? Mansion Painters? Butlers? How many of those do the rich need anyways? In the last 30 years all taxes have been lowered and free trade allows rich to invest in China's/India's slave labor market...so THEY HAVE NO INCENTIVE to create jobs!!!!