Convenient how the chart picks the unprecedented tech boom as the basis. Talk about cherry picking. You could have done just about anything during those days and looked like a genius. A trained monkey would have had similar results. And by trained money I mean a democrat. I guess I should have said trained ass. That fits a lot better.
Info from Historical Lessons of Lower Tax Rates. . . * America's GDP had grown at an annual rate of just 1.7 percent during the six quarters preceding the 2003 tax cuts; in the six quarters following the tax cuts, the growth rate was 4.1 percent.
* The S&P 500 had dropped 18 percent during the six quarters before the 2003 tax cuts, but it increased by 32 percent during the six quarters following the cuts.
* The economy had lost 267,000 jobs during the six quarters before the 2003 tax cuts. During the six quarters after the cuts, it added 307,000 jobs. And during the seven quarters thereafter, another 5 million jobs were created.
* After the capital gains tax reduction of 2003, capital gains revenues to the government more than doubled, to $103 billion. Previous capital gains tax cuts had shown similar results. By encouraging investment, lower capital gains taxes increase funding for the technologies, businesses, ideas, and projects that make workers and the economy more productive. Such investment is vital for long-term economic growth.
Don't forget about the 2001 tax cuts, jackass. They didn't do shit for the economy. All either set of tax cuts did was increase the debt dramatically. The three years of 1% interest rates kicked off the housing bubble which created those jobs. How did that turn out? I can guarantee that whatever comment you leave will be complete misinformation. Thanks for the contributions.
Jackass? Is that how you respond when somebody calls you out for spreading liberal propaganda and “convenient” statistics? I guess this is now a charity post.
Anyway, if debt is bad it must be killing you to still love your deity Obama after he racked up more debt in his first term than every single US President before him combined. Also, only an idiot ignores the fact that those tax cuts averted a wide scale recession post the dot com bust.
Oh, and here is a link to an article noting that low interest rates were not responsible for the bubble. Let me see, do I believe a former economics professor from Princeton or a know-it-all farmer. http://www.bloomberg.com/news/2012-03-22/bernanke-tells-students-fed-not-responsible-for-housing-bubble.html
Believe who you want, but where are all the jobs from those tax cuts? You are offended by jackass, when you called democrats trained asses? Thin skin? Bernanke didn't see the housing bust coming (or didn't care), some know-it-all farmer did.
We have three main causes for record deficits, Bush tax cuts, Bush wars and the Bush Depression. I don't think Obama has done very good, but he's done three times as good as Bush. Republican economic ideas are complete failures.
Sorry about deleting the commie post. I was going to respond, and hit the wrong button. I don't think that pointing out that tax increases don't necessarily hurt the economy would indicate the person is a communist, but other people have their opinions. I didn't intend to limit those opinions.
Convenient how the chart picks the unprecedented tech boom as the basis. Talk about cherry picking. You could have done just about anything during those days and looked like a genius. A trained monkey would have had similar results. And by trained money I mean a democrat. I guess I should have said trained ass. That fits a lot better.
ReplyDeleteInfo from Historical Lessons of Lower Tax Rates. . .
* America's GDP had grown at an annual rate of just 1.7 percent during the six quarters preceding the 2003 tax cuts; in the six quarters following the tax cuts, the growth rate was 4.1 percent.
* The S&P 500 had dropped 18 percent during the six quarters before the 2003 tax cuts, but it increased by 32 percent during the six quarters following the cuts.
* The economy had lost 267,000 jobs during the six quarters before the 2003 tax cuts. During the six quarters after the cuts, it added 307,000 jobs. And during the seven quarters thereafter, another 5 million jobs were created.
* After the capital gains tax reduction of 2003, capital gains revenues to the government more than doubled, to $103 billion. Previous capital gains tax cuts had shown similar results. By encouraging investment, lower capital gains taxes increase funding for the technologies, businesses, ideas, and projects that make workers and the economy more productive. Such investment is vital for long-term economic growth.
Don't forget about the 2001 tax cuts, jackass. They didn't do shit for the economy. All either set of tax cuts did was increase the debt dramatically. The three years of 1% interest rates kicked off the housing bubble which created those jobs. How did that turn out? I can guarantee that whatever comment you leave will be complete misinformation. Thanks for the contributions.
ReplyDeleteJackass? Is that how you respond when somebody calls you out for spreading liberal propaganda and “convenient” statistics? I guess this is now a charity post.
ReplyDeleteAnyway, if debt is bad it must be killing you to still love your deity Obama after he racked up more debt in his first term than every single US President before him combined. Also, only an idiot ignores the fact that those tax cuts averted a wide scale recession post the dot com bust.
Oh, and here is a link to an article noting that low interest rates were not responsible for the bubble. Let me see, do I believe a former economics professor from Princeton or a know-it-all farmer. http://www.bloomberg.com/news/2012-03-22/bernanke-tells-students-fed-not-responsible-for-housing-bubble.html
This comment has been removed by a blog administrator.
ReplyDeleteBelieve who you want, but where are all the jobs from those tax cuts? You are offended by jackass, when you called democrats trained asses? Thin skin? Bernanke didn't see the housing bust coming (or didn't care), some know-it-all farmer did.
ReplyDeleteWe have three main causes for record deficits, Bush tax cuts, Bush wars and the Bush Depression. I don't think Obama has done very good, but he's done three times as good as Bush. Republican economic ideas are complete failures.
Sorry about deleting the commie post. I was going to respond, and hit the wrong button. I don't think that pointing out that tax increases don't necessarily hurt the economy would indicate the person is a communist, but other people have their opinions. I didn't intend to limit those opinions.
ReplyDelete