APP - The Bush Recession... Much worse than the Carter Recession was!

[Mott the Hoople]

Who around her ever said tax cuts never work? It is not black and white like you seem to belive. IN some situations tax cuts work... in some they dont! Hell, if we cut taxes to 0, would that work?

That's not the point. The point is, is that our society has a tacit social contract in time of war. The monied class provides the treasure and the middle/working classes provide the blood. The right wing of the Republican party, in the example provided by the Bush administration, wanted to have it's cake and eat it to by violating that social contract. They desired that the monied class (the capitalist class if you will) would provide neither treasure or blood for that war and attempted to shift the cost of war, both in blood and treasure, onto others. This, at the least is unethical and at worst is immoral.

 

[uscitizen]

wasn't Ronnie in when GDP actually went down?

Drove my Chevy to the levy and the levy was dry.

 

[Mott the Hoople]

Did the economy pick up steam after those cuts or not? Yes, it did.

That said, tax cuts WILL increase economic activity in the short term. In the long term, you must have corresponding spending cuts to make the tax cuts sustainable. This is where Bush failed completely.

Agreed.

 

[Mott the Hoople]

Name a time when you spend less when your taxes are cut.
Save the turbo-lib talking points, it's bullshit.

Cutting taxes for the wealthy in time of war is not about economics. It's about ethics and morality. War is not business and should never be conducted as such.

 

[DamnYankee]

Cutting taxes in a time of war, (unprecidented) was a huge mistake that helped put us here where we are today!

That's simply your uneducated and liberal-biased opinion.

 

[Topspin]

turbo-libs don't give a shit about the war except as they could damage mcfossil in the run up to the election. Now you can hear a pin drop with all the anti-war false outrage gone.

 

[Cancel 2016.2]

Cutting taxes for the wealthy in time of war is not about economics. It's about ethics and morality. War is not business and should never be conducted as such.

The tax cuts were across the board. Note: The lower tax brackets saw a higher percentage of decrease than the higher tax brackets. The bottom 50% of income earners saw their tax burden decrease relative to the top half. But the left loves to ignore this and point out that in terms of actual dollars, 'da wealthy gots all the tax breaks'. While in terms of dollars that is true, one must ask WHY? Could it be because the bottom 50% pay less than 3% of all income taxes? Is that why in real dollar terms they don't seem to 'get much' when you have INCOME tax cuts?

If you are paying zero in income taxes... you should not expect a large check when income taxes are cut.

 

[TuTu Monroe]

Sorry, Clinton's unemployment was at 3.4% when bush took office, 5% is an INCREASE of about 30%. Some spur.

I believe you are wrong on the unemployment rate. It was a faux economy in the Clinton era and then the bubble burst, just in time to hand it over to Bush. 500,000 jobs were outsourced before Clinton left office.

 

[Cancel5]

I believe you are wrong on the unemployment rate. It was a faux economy in the Clinton era and then the bubble burst, just in time to hand it over to Bush. 500,000 jobs were outsourced before Clinton left office.

A faux economy! ahahahahahahahahahahahahahahahaha

 

[uscitizen]

That is pretty funny.

But along those lines how many jobs were outsourced under Bush?

 

[Cancel 2016.2]

A faux economy! ahahahahahahahahahahahahahahahaha

Consider this....

1) Enron fraud
2) World Com fraud
3) Qwest fraud
4) Global Crossing fraud
5) Health South fraud
6) Negative earnings on numerous stocks that ran up 100%+
7) Artificially low oil prices

While it was not all a fake, there was a lot of the run up that was indeed based on fraud and misguided investment principles.

 

[uscitizen]

Yep mostly as the result of deregulation.

 

[PostmodernProphet]

Yep mostly as the result of deregulation.

so you are agreeing with him that the economic gains during the Clinton administration was caused by fraud, misguided investments and deregulation?......

 

[uscitizen]

so you are agreeing with him that the economic gains during the Clinton administration was caused by fraud, misguided investments and deregulation?......

Yes I have always maintained that the dereg caused problems all the way back to at least Reagan.
Dereg enabled a lot of fraud. And corrupt congress people on both sides covered for it.

Per my research other than the inflation the causes of the 1980 recession were similar to todays recession. Dereg and greed enabled to go wild because of dereg.
The bailouts were even similiar just a lot smaller. I am not sure we can withstand another one of these.


You think I hold clowntoon on a pedestal? you are wrong.
Only Mr. Peabody redsides on that pedestal.

 

[PostmodernProphet]

Yes I have always maintained that the dereg caused problems all the way back to at least Reagan.
Dereg enabled a lot of fraud. And corrupt congress people on both sides covered for it.

Per my research other than the inflation the causes of the 1980 recession were similar to todays recession. Dereg and greed enabled to go wild because of dereg.
The bailouts were even similiar just a lot smaller. I am not sure we can withstand another one of these.


You think I hold clowntoon on a pedestal? you are wrong.
Only Mr. Peabody redsides on that pedestal.

it's just that admitting the economy was not as good as it has been claimed seems inconsistent with your previous comments about the Clinton economy.....

 

[cawacko]

It is laughable the idea that if the government has tighter control over the economy there is less fraud. Travel or do business overseas much?

 

[TuTu Monroe]

A faux economy! ahahahahahahahahahahahahahahahaha

Yeah, it was overheated and had to come down, you dork. Oink! Oink!

 

[uscitizen]

it's just that admitting the economy was not as good as it has been claimed seems inconsistent with your previous comments about the Clinton economy.....

The economy was much better for the working class under Clowntoon. Better wage increases, lower unemployment, etc.

It was not however better for the longterm as I stated then as well.

 

[uscitizen]

It is laughable the idea that if the government has tighter control over the economy there is less fraud. Travel or do business overseas much?

Laughable huh?

If you are highly regulated and your books audited by the govt perodically your fraud and corruption level will drop.
I do not recall an big scandals form the public utilities back when they were pretty highly regulated. Just good solid investment companies that everyone wanted in their portfolios.

If you are unregulated and not audited well what is to stop you from a bit of creative bookkeeping and pushing the envelope.

 

[belme1201]

WRONG again.

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?series_id=LNS14000000

Unemployment was sub 5% under Bush for all of 2006 and 2007 and the first couple of months of 2008.

yes, unemployment spiked during the first couple of years of Bush do the the dot com/tech/telecom bubbles bursting and the recession that resulted from that, but when the economy recovered, so did the employment numbers.

Same thing is occurring now.

But bush's numbers never reached those passed to him at the end of the Clinton term.