Tax Cut Lies: The Day The News Died

[Nitro Express]

The "fact" that FDR pulled us out of the Great Depression is a lie.

Actually, he prolonged it with his massive government spending and it went into a double dip depression in 1938. Plus, confiscating people's gold was not cool. The emergency of World War II and the GI Bill got us out of the depression. We produced ourselves out of it and the war was the motivator.

[Nitro Express]

Actually all it means is income taxes won't go up for the average American accept the estate tax which will go from zero to 35%. It was going to go to 55%. I still think taxes for the middle class are too high and yes I know rich connected people like Timothy Geitner don't pay any tax.

[Sgt Schultz]

[QUOTE=kwame k;1506704]raising taxes is going to have to happen at some point to pay for all this shit!!!!!! No one wants to hear that or even talk about it but what other choice will we have? At some point we have to pay.QUOTE]

No, taxes are too high as it is. Real spending cuts have to be employed.
If we all were taxed 100% of our income would there still be a deficit? Damn straight there would be. The problem is that Congress spends too much.

[Nitro Express]

We built China. We outsourced our jobs to them and give them our money buying their products. Then they loan our own money back to us at interest. It's stupid. We need to stop doing it.

[ELVIS]

Income tax would be fine if they would lose the loopholes.

And anyone who doubts the need for the estate tax, just watch the current season of Celebrity Rehab, and explain to me how you can justify the continued existence of a useless piece of shit like Jason Davis, who makes his fellow estate tax recipients Paris Hilton and Chimpy Bush look useful by comparison.

Is that your best example ??

[FORD]

Is that your best example ??

Well, if you count Paris and Chimpy as well, that's three completely useless human beings who never had to work a day in their lives because their grandparents or great grandparents made money. And in Chimp's case, even that money wasn't legitimate.

Do you need a better example than that?

[Guitar Shark]

No, taxes are too high as it is. Real spending cuts have to be employed.
If we all were taxed 100% of our income would there still be a deficit? Damn straight there would be. The problem is that Congress spends too much.

President Reagan's former budget director, David Stockman, has the opposite viewpoint.

http://www.npr.org/blogs/thetwo-way/2010/08/02/128933945/david-stockman-opposes-extended-bush-tax-cuts-icymi

As far as spending reduction goes, I can't disagree. Stockman suggests substantial cuts to the defense budget. I assume you agree that this would be the best option? Right?

[Guitar Shark]

Incidentally, that NYT Op-Ed Piece authored by Stockman (and linked in the story I provided) is both outstanding and scary. I suggest that you read it.

[PETE'S BROTHER]

good read

[knuckleboner]

[No, taxes are too high as it is. Real spending cuts have to be employed.
If we all were taxed 100% of our income would there still be a deficit? Damn straight there would be. The problem is that Congress spends too much.

you know that there were 4 straight budget surpluses under clinton right? 4 straight. FY1998 through FY2001. and what were taxes during that period? higher than they are now. now, true, we weren’t paying for 2 overseas wars and a brand new prescription drug entitlement program. still, higher taxes were at least a part of the reason we had balanced budgets. and, remember, the economy didn’t do so badly during that timeframe, either.

[Nickdfresh]

The "fact" that FDR pulled us out of the Great Depression is a lie.

Okay, Brian. Then tell us what the 'real' truth is...

[Nickdfresh]

Actually, he prolonged it with his massive government spending and it went into a double dip depression in 1938. Plus, confiscating people's gold was not cool. The emergency of World War II and the GI Bill got us out of the depression. We produced ourselves out of it and the war was the motivator.

Oh, what lovely revisionist horseshit....

[Blaze]

This should be useful


Did the United States grow more unequal while Republicans were in power? It sounds crude, but Princeton political scientist Larry Bartels has gone a long way toward proving it. Bartels looked up income growth rates for families at various income percentiles for the years 1948 to 2005, then cross-checked these with whether the president was a Republican or a Democrat. He found two distinct and opposite trends. Under Democrats, the biggest income gains were for people in the bottom 20th income percentile (2.6 percent). The income gains grew progressively smaller further up the income scale (2.5 percent for the 40th and 60th percentiles, 2.4 percent for the 80th percentile, and so on). But under Republicans, the biggest income gains were for people in the 95th percentile (1.9 percent). The income gains grew progressively smaller further down the income scale (1.4 percent for the 80th percentile, 1.1 for the 60th percentile, etc.).

Two other observations are worth making:

1) In all income categories except the 95th percentile, income growth rates under Democratic presidents exceeded income growth rates under Republican ones. That suggests greater income equality can coexist with (or even help create) greater prosperity.

2) The 95th percentile fared about the same under Democrats and Republicans. (This chart shows it doing slightly better under Democrats, but the margin of error erases the Democrats' advantage.) Bartels' party-based interpretation of income inequality can't address the Great Divergence, Part 2—the stratospheric rise in incomes at the very top—because for this group, it doesn't matter much whether a Democrat or a Republican inhabits the White House. Political scientists Jacob Hacker and Paul Pierson, of Yale and Berkeley, respectively, argue that the apparently nonpartisan solicitude Democrats and Republicans express toward the rich is the result of a massive increase in Washington's corporate lobbying sector since the 1970s—and that the growing power of big business in Washington has been a major contributor to the Great Divergence.


Source: Larry M. Bartels.
Chart by Catherine Mulbrandon of VisualizingEconomics.com. www.slate.com

[Nickdfresh]

Don't forget that Democrats have gotten us into more Wars though...

BTW, the United States was largely pulling out of Depression by 1940 as consumption was on the rise and so was production (we didn't enter WWII until 69 years ago yesterday). That's just for starters....

[Blaze]

But the manufactured war was not a democrat.


The thing is if Jiigy could not do anything for the industry, why would anyone thing any one could go in and help the complex?