Did Bush Tax Cuts Contribute Significantly To The Deficit? Yes/No

Hmmm, let's see, wasn't it the GOP that refused to extend unemployment benefits unless the tax cut was extended for the top 2%?

Obama attempted to compromise with the GOP by allowing the tax cuts to be extended for the poor and middle class but the GOP chose to hold the country's unemployed hostage in order to serve their rich masters. I wonder, why does that tactic seem so familiar? Oh that's right, it's because that's the way the right has done business since the day Obama took office.

 

Did you see what the Congressional Budget Office said today? It said at least eight percent unemployment for a minimum of three more years. Those folks are screwed real bad aren't they? They are totally screwed. They will never recover will they? Sucks to be them.

Do you think there will be another extension of unemployment benefits for the unemployable? Not bloody dammmmm likely.

 

We've learned that compromise with you is futile. That's why your president got his clock cleaned over the debt ceiling.

Did you see what the CBO said about unemployment today? Those folks are in a world of hurt aren't they? They need jobs real bad don't they? Do you think there will be jobs for them? Do you think there will be another extension of unemployment? Not likely. And their lives have been shattered haven't they? Totally shattered?

 

At which point in Obama's presidency has the GOP EVER tried to compromise with him? Don't bother lying, I'll tell you the answer and it is NEVER.

And yes, the unemployed are in bad shape and likely to remain so for some time. Thanks, in no small part to the TP/GOP's efforts to take the country to the brink of default and destabilize what little recovery was taking place. Remember though when you claim that was Obama's fault, Boehner said the GOP got 98% of what they wanted in the debt ceiling bill. That doesn't sound like compromise to me. No, that sounds like the GOP took another political hostage to get their way at the expense of the middle class and the poor.

And tell me, if big business has it so bad in this country, why is they are raking in record profits and why is it that with tax rates at historical lows they can't create jobs?

 

Obama wanted conservatives to become like European conservatives who play by the rules set by the left. Conservatives wouldn't bite.

Big Business adapts to whomever is in power. That's why Big Govt., Big Labor and Big Business are fused into one chimera.

General Electric supports Democrats and shipped 20,000 American jobs to China. Your president Obama allowed GE to make millions in profits last year and avoid having to pay one red cent in federal income taxes. Then your president appointed jeff immelt the CEO of GE as his jobs czar.

The left is in league with Big Business. Conservatives have Small Business as part of their base. Small business creates most of the jobs in the country.

 

Right.......because every single thing that is wrong with this country popped into being the day Obama took office. The tax code that GE and countless other companies take advantage of predates Obama. The outsourcing that countless companies are guilty of predates Obama and has in fact been a growing problem for decades.

And as a person who lived in Europe for a decade, your post is absolutely clueless. You want to know what the real difference between Europe and the US is? It's simple, their citizens actually see real value returned for the taxes they pay. We don't.

 

We borrowed nothing, defense is always where the first dollars go, it's everything else that was borrowed.

 

Nope began at the end of 2000 with recession hitting in 2003.

$128 billion as the revenue stream was already slowing at the end of 2000 and into 2001 when the recession hit. The tax cuts softened the blow and led to record increases as another poster showed.

Yes the Democrats took over the purse strings at the same time their housing scheme collapsed on them.

 

Of course you try to hide the fact that the Democrats took over the purse strings in 2008 declaring the Bush budgets dead on arrival. Why do you attribute the decline to him instead of Reid and Pelosi?

 

Yes if you are ignorant of the 2001 recession I can't help you and it is pointless to try and discuss with such ignorance.

 

Extending unemployment benefits had done nothing but delay the recovery and people going back to work. Else let's just pay everyone not to work and imagine how great the economy will be.

 

Nonsense. All that spending was authorized (mostly by Republicans themselves). Refusal to pay for it caused the deficit.

 

Of course.

Because in the conservatives' world, what happened was that 8 million people all of a sudden got lazy, quit their jobs, and decided to live of the generous unemployment benefits.

All the while the poor businesses have been desperately trying to find people to work for them.

Conservative economics makes sense, if you ignore reality.

 

I'm not ignorant at all.

But it is pointless for you to continue squawking the BS you do.

 

My graph showed revenues during the Bush tax cuts, as I stated.

When were the Bush tax cuts repealed again?

 

Those Republicans compromised with Leftists. Now they are hated and have lost their party. We see them as villains for trying to work with leftists.

 

LOL! Bluesguy making (*)(*)(*)(*) up as he goes along.

 

LOL Bluesguy making (*)(*)(*)(*) up as he goes along.

 

Helped a little?

The economy since the Bush tax cuts passed has been the worst since the Great Depression happened when taxes were 26%.

No kidding? Cut taxes to 5% and yeah, it wouldn't improve the deficit picture.

Really? Is that what you learned? Was this at the Palin University of economics?

So tell us what you learned in your economics 101 class about how deficits are calculated, and how it has nothing to do with revenues.

 

None of our conservative friends wanted to address this one, I see.

Same responses as I've always gotten before.

 

As the years of 2009 and 2010 where complete deomcratic policies have failed, why would you want the right to compromise with failures? 50% of failing is STILL failing. Nothing the democrats have done has turned our economy around. The large numbers of people being laid off is just the system correcting its self from the bubble. Since the bubble is gone, the huge numbers of people laid off are still laid off, and actually falling off unemployment cause their time is up. The stagnant economy is the prime example that no democratic policy has helped. Just wait till they get the Alaskain pipeline closed and gas jumps to $5+/gallon.

 

Guess the FULL employment from 2003-2008 was just like the great depression too? Guess all those people pouring in the paychecks into the economy while buying food was just like the soup lines of the great depression?

 

We didn't have "full employment" in 2008.

What about the other years we've had the Bush tax cuts?

 

We didn't have "full employment" in 2008.

What about the other years we've had the Bush tax cuts?

 

Sorry, from 2003 (when the majority of taxes we cuts) till 2007, when the economy started to drop due to high gas prices, we had "full employment".

What about the "other years", there was bubble bursting going on that the current tax cuts couldn't change. 2001, the actual tax cut was too small because they only cut .5% each year from income tax. The stimulus (as in the money rebated to the public) doesn't work cause that is too short term and not efficient enough to sustain spending by the public.

Because the SMALL businesses (these are the most effected by personal income taxes) had a substantial cut in 2003, they were actually able to hire people with that extra money they weren't paying to the government every quarter.