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 Obama's....unpaid-tax cuts or paying for tax cuts!

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Abracadabra
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PostSubject: Obama's....unpaid-tax cuts or paying for tax cuts!   Sun 01 May 2011, 9:45 am


Whenever Obama talks about paying for tax cuts, he means, but does not say, raising taxes on someone else.

It never occurs to him, nor does he say, that the tax cuts can pay for themselves through increased economic growth and higher employment as can seen by the following.......

In his first year in office, Bush pushed through an across-the-board income tax cut agenda that would be phased in over several years. But as the recession worsened, unemployment rose from 4.7%—
to 5.8% in 2002 ….
to 6% in 2003.

Federal tax revenues fell ….
to $1.99 trillion in 2001,
to $1.85 trillion in 2002,
to $1.78 trillion in 2003.

Deciding that the economy needed a faster booster shot, Congress accelerated the Bush tax cuts in 2003, and the nation’s economy responded.

Contrary to Obama’s anti-tax cut, zero-sum ideology, federal tax revenues didn’t fall as a result of Bush’s across-the-board tax rate cuts that affected every income bracket....they rose to the following:

Federal tax revenues rose to
—$1.88 trillion in 2004

—$ 2.15 trillion in 2005

—$ 2.4 trillion in 2006

—$ 2.6 trillion in 2007.

In other words, tax revenues rose by more than $800 billion in just four years by cutting tax rates and boosting economic growth that pushed the Dow to a record 14,164 points on Oct. 9, 2007.

Unemployment fell sharply as the economy expanded,
dropping to 5.55 in 2004,
5.1% in 2005,
4.6% in 2006 and 2007.

This also helped reduce Bush’s soaring budget deficits. They rose substantially during the first half of his presidency as a result of the 9/11 terrorist attacks and the deepening recession, but as federal tax revenues increased, the yearly deficits began to shrink, falling to a modest $161 billion in 2007—a record that Obama can only dream about.

To be sure, there are many other factors in measuring Bush’s fiscal record, including levels of spending that could have and should have been cut down to size.

obama is an absolute disaster as President and he has beat out jimmy carter to become the worst President in my lifetime.


http://www.humanevents.com/article.php?id=43192


Hope and change voters....do not forget to after you enjoy a  with obama Kool-Aid....sweetened with NutraHope!

Many people (that I know) are alive only because it’s illegal to shoot them.

Ronald Reagen said it best.......The trouble with our liberal friends is not that they are ignorant, but that they know so much that isn’t so.

"You can ignore reality, but not the consequences of ignoring reality." Ayn Rand

The truly educated never graduate !

When the Going Gets Tough, the Tough Get Going. The Smart Left a Long Time Ago.

I have always said I don't care what you do or with whom you do it, but don't demand that I think that it is normal or that it is OK!!!!

Only two things are infinite, the universe and human stupidity!
how rude

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Obama's....unpaid-tax cuts or paying for tax cuts!

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