willbeurdaddy
Posts: 11894
Joined: 4/8/2006 Status: offline
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ORIGINAL: DomKen quote:
ORIGINAL: willbeurdaddy quote:
ORIGINAL: DomKen quote:
ORIGINAL: willbeurdaddy quote:
ORIGINAL: joether Any economists worth his/her weight in gold has pointed the direct correlation between the Bush era tax cuts and the grow of the US Deficit. Bullshit. Revenues increased during the Bush administration until late 2008. Weird how the numbers show it differently Year Federal Tax Revenue in billions (2005 dollars) 1999 2106.11 2000 2284.56 2001 2196.46 2002 2011.72 2003 1894.06 2004 1942.84 2005 2153.61 2006 2330.94 2007 2420.48 2008 2326.63 2009 1917.81 funny but I always thought that 2420>2331>2154>1943>1894. "The economy's performance since the 2003 tax cuts went into effect has been stunning. The unemployment rate has fallen to from 6.3 percent to 4.7 percent-well below the historical average. Companies and entrepreneurs have created 5.7 million new jobs, including another 128,000 in August. And the typical unemployed worker now needs three fewer weeks to find a job than in June 2003. The 2003 tax cuts lowered taxes on savings and investment, making it easier for workers to save for the future and reducing the cost of investment. The consequences have been dramatic. Since June 2003, investment in the economy has surged by 28 percent in real terms and is higher now than during the late 1990s. The stock market has also recovered, with the Dow Jones Industrial Average up 2,500 points in since June of 2003. With tens of millions of American workers owning stocks through 401(k) plans, these gains have been broadly shared throughout the economy." You left out FY 2002, the year the tax cuts went into effect. 2011 !< 1894. 2002 is when the 2003 tax cuts went into effect? And fiscal policy does take time, yanno, its not instantaneous.
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Hear the lark and harken to the barking of the dogfox, gone to ground.
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