DomKen
Posts: 19457
Joined: 7/4/2004 From: Chicago, IL Status: offline
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ORIGINAL: LookieNoNookie quote:
ORIGINAL: DomKen quote:
ORIGINAL: FatDomDaddy quote:
ORIGINAL: DomKen This is complete nonsense. These tax cuts were meant to end years ago and simply return to rates that were in effect during the 90's when the economy boomed. When they do all end the deficit will decline quite a lot and that should make the newly minted deficit hawk cons happy, unless of course that was simply having to do with a Democratic President. You really believe that huh??? Fact: the rates will return to thoe from the late 90's. Fact: the economy grew at historic rates during the 90's. Fact: the deficit is primarily a result of these tax cuts. Fact: cons didn't complain about the deficit and debt when these tax cuts were passed and for the remainder of W's term. Fact: the President is a member of the Democratic Party What is there to need to believe in? Facts, for one. Fact: The rates will return to those of the early 90's. Same as those of the late 90's. quote:
Fact: The economy grew at historic rates during the 90's because of unprecedented access to borrowed money, tax revenues were increasing at stunning rates by virtue (and therefore, smaller deficits....Clinton ran a deficit, contrary to popular opinion, during each and every year of his Presidency), the economy grew at these historic rates not only because of borrowed money but as well, productivity, which was rising faster than any recorded period in the 20th century (ergo, rising tax revenues), largely due to increased computerization that began in the early 80's but didn't really pick up speed until roughly the second year of Clinton's first administration (coinciding almost identically with the same time frame that most small businesses discovered they could do vastly more things with their 386 computer than play asteroids). So? Did the economy grow at historic rates in the 90's or not? quote:
Fact: The deficit is primarily a result of overspending, particularly on entitlements that are growing at a rate in excess of twice that of revenues and nearly 4 times the rate of inflation, but I'll presume you meant to refer to the recent deficit "explosion" which was primarily the result of an economy that has stripped the federal govt. of revenues, at exactly the same time that unemployment and related costs have taken off as if on rocket fuel and....two unfunded wars. Th two things creating the structural deficit is the Bush tax cuts and and the 2 wars. Both wars are ending so the only thing left is the tax rates. quote:
Fact: Neither did the Democrats. They too voted for tax cuts. Had they not, it wouldn't have passed. So? Did the cons ever complain till after 2008? Seems like after a bunch of non sequiturs the facts all remain.
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