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Thread: Rescend All the Republican Tax Cuts

  1. #1
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    Rescend All the Republican Tax Cuts

    Beginning with the national indebtedness created by the regime of King Ronald Wilson Reagan:
    April 9, 2008, 7:34 pm
    WESTPORT, Conn. – When Senator John McCain was asked here this afternoon how he plans to balance the budget, he said that he hoped to do so by stimulating economic growth – and approvingly cited the example of President Ronald Reagan.

    There was one thing he did not mention during his response: the deficit nearly tripled during the Reagan presidency, partly due to tax cuts and increases in military spending.
    Asked About the Deficit, McCain Cites Reagan’s Example - The Caucus Blog - NYTimes.com
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    More on Reagan and his tax cuts which were the start of the present financial disaster worldwide:
    Ronald Reagan may have been a good and decent man.

    As president, though, Reagan pursued policies that were short-sighted, reckless and, for many, hurtful. His economic legacy is one of deplorable disregard for the consequences of his actions, and the ramifications of Reagan's decisions remain with us to this day. ...

    On the matter of deficits, Reagan nearly tripled the gap between the amount of money the federal government took in and the amount it spent. He did this by cutting tax rates by an average 25 percent, while aggressively increasing defense spending.

    In 1981, shortly after taking office, Reagan lamented "runaway deficits" that were then approaching $80 billion, or about 2.5 percent of gross domestic product. Within only two years, however, his policies had succeeded in enlarging the deficit to more than $200 billion, or 6 percent of GDP.
    Downside of Reagan legacy

    American families lost their homes because Reagan's economic policies shipped their jobs overseas while Reagan was cutting taxes for the very, very rich.

    The very, very rich became very, very much more richer while the average American became jobless and homeless.
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    I supposed you'll never recognize the contributions that Jimmy Carter and Bill Clinton made to the housing market collapse. How very liberal of you.

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    Tax Revenue went up under Reagan. It was the spending that blew the deficit to the moon. However, the net result was that we outspent the Russians and caused their eventual collapse.





    The Historical Lessons of Lower Tax Rates

    The Reagan tax cuts
    Thanks to “bracket creep,” the inflation of the 1970s pushed millions of taxpayers into higher tax brackets even though their inflation-adjusted incomes were not rising. To help offset this tax increase and also to improve incentives to work, save, and invest, President Reagan proposed sweeping tax rate reductions during the 1980s. What happened? Total tax revenues climbed by 99.4 percent during the 1980s, and the results are even more impressive when looking at what happened to personal income tax revenues. Once the economy received an unambiguous tax cut in January 1983, income tax revenues climbed dramatically, increasing by more than 54 percent by 1989 (28 percent after adjusting for inflation).
    According to then-U.S. Representative Jack Kemp (R-NY), one of the chief architects of the Reagan tax cuts:
    At some point, additional taxes so discourage the activity being taxed, such as working or investing, that they yield less revenue rather than more. There are, after all, two rates that yield the same amount of revenue: high tax rates on low production, or low rates on high production.

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    I would welcome the democrats rescending the Republican tax cuts. The congress would go to the Republicans in the next cycle and the Presidentsy after that.
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    Quote Originally Posted by isly ilwott View Post
    I supposed you'll never recognize the contributions that Jimmy Carter and Bill Clinton made to the housing market collapse. How very liberal of you.
    Hmm, Carter was last president on January 19, 1981.

    Hmm, that was more than 28 years ago. What were Reagan, George Herbert Walker Bush and George Walker Bush doing in the meantime?

    Hmmm, Clinton was last president on January 19, 2001. What was the Republican Congress doing? What were the Republican courts doing? What was the Republican president George W. Bush doing in that eight year period?

    Your claim doesn't wash.
    Brother, you can believe in stones as long as you do not hurl them at me. Wafa Sultan

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    The Heritage Foundation? A font of right wing fanaticism.

    Can't you find an unbiased source?
    Brother, you can believe in stones as long as you do not hurl them at me. Wafa Sultan

    “War is an American way to teach geography,” British soldier

    War is sweet to those who have not tasted it, but the experienced man trembles exceedingly at heart on its approach. – Pindar

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    Remember what happened after Hoover put us into the Great Depression?

    A republican president was not elected until 1952 and he was almost a democrat in his politics.
    Brother, you can believe in stones as long as you do not hurl them at me. Wafa Sultan

    “War is an American way to teach geography,” British soldier

    War is sweet to those who have not tasted it, but the experienced man trembles exceedingly at heart on its approach. – Pindar

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    And if the dem's screw up in this and put us in a depression they will suffer the same fate. Hoover did it by rasing taxes. When the Tax cuts sunset in 2010 it will be viewed as the same thing and the dem's will be blamed.
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    George W. Bush has already triggered off a depression worldwide.

    President Obama is trying to repair the economic damages done by Bush/Cheney and their gang.
    Brother, you can believe in stones as long as you do not hurl them at me. Wafa Sultan

    “War is an American way to teach geography,” British soldier

    War is sweet to those who have not tasted it, but the experienced man trembles exceedingly at heart on its approach. – Pindar

  11. #11
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    Quote Originally Posted by isly ilwott View Post
    Tax Revenue went up under Reagan. It was the spending that blew the deficit to the moon. However, the net result was that we outspent the Russians and caused their eventual collapse.
    I was the deficit spending that increased tax revenue, not the tax cuts. That has been proven beyond any reasonable doubt.
    If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your counsel, nor your arms. Crouch down and lick the hand that feeds you; May your chains set lightly upon you, and may posterity forget that ye were our countrymen. —Samuel Adams

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    Quote Originally Posted by simone View Post
    George W. Bush has already triggered off a depression worldwide.

    President Obama is trying to repair the economic damages done by Bush/Cheney and their gang.
    BTW Simone that's "rescind"

    Anyway, just curious. Why all the negative and biased comments about all and anybody who is republican, conservative and rich? You appear to be a fairly well educated and intelligent woman, do you really believe that GWB is all bad and BHO is our saviour who can do nothing wrong?

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    Quote Originally Posted by simone View Post
    Hmm, Carter was last president on January 19, 1981.

    Hmm, that was more than 28 years ago. What were Reagan, George Herbert Walker Bush and George Walker Bush doing in the meantime?

    Hmmm, Clinton was last president on January 19, 2001. What was the Republican Congress doing? What were the Republican courts doing? What was the Republican president George W. Bush doing in that eight year period?

    Your claim doesn't wash.
    Jimmy Carter set in motion the financial wizardry that caused the housing market to collapse. After Bill Clinton made it even easier for people that couldn't really afford big mortgages to get them, there was no stopping the collapse. Bush/Cheney had little to do with it, other than warn Congress that the mortgage give away program was doomed to failure.

    The Socialist side of our governing body should accept full blame for the housing market problems we have today...starting with Little Jimmy Carter.

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    Quote Originally Posted by isly ilwott View Post
    Jimmy Carter set in motion the financial wizardry that caused the housing market to collapse. After Bill Clinton made it even easier for people that couldn't really afford big mortgages to get them, there was no stopping the collapse. Bush/Cheney had little to do with it, other than warn Congress that the mortgage give away program was doomed to failure.

    The Socialist side of our governing body should accept full blame for the housing market problems we have today...starting with Little Jimmy Carter.
    Everybody put on your tinfoil hats while isly tells us about how a secret cabal of jewish bankers pushed the CRA down our throats and how, despite the fact that to date not a single banking official has cited it for a cause of the collapse, it was actually responsible for the credit disaster.
    If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your counsel, nor your arms. Crouch down and lick the hand that feeds you; May your chains set lightly upon you, and may posterity forget that ye were our countrymen. —Samuel Adams

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    Quote Originally Posted by daewoo View Post
    Everybody put on your tinfoil hats while isly tells us about how a secret cabal of jewish bankers pushed the CRA down our throats and how, despite the fact that to date not a single banking official has cited it for a cause of the collapse, it was actually responsible for the credit disaster.
    I said nothing of bankers, Jewish or otherwise. I think neither Jimmy Carter nor Bill Clinton is Jewish.

    If you hold them blameless, you are indeed a fool.

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