SOTU: Tax Cuts Didn’t Help Economy
SOTU: Tax Cuts Didn’t Help Economy
Bush said: “In the last five years, the tax relief you passed has left 880 billion dollars in the hands of American workers, investors, small businesses, and families – and they have used it to help produce more than four years of uninterrupted economic growth.”
FACT — DEFICITS CAUSED BY TAX CUTS NEGATE ANY POTENTIAL ECONOMIC BENEFITS: Studies by the Joint Committee on Taxation (JTC), Organisation for Economic Co-operation and Development (OECD), and Congressional Budget Office (CBO) all confirm that deficits undermine economic benefits of the cuts. In their analysis of the 2003 tax cuts, JTC found that any economic benefits of the tax cuts would “eventually likely to be outweighed by the reduction in national savings due to increasing Federal government deficits.” [American Progress, 1/26/05; CBO, October 2005]
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I didn't get a tax cut. Why?
January 31st, 2006 at 10:00 pmOh, I forgot, I didn't pay any taxes!!
[...] Yeah, yeah, yeah we know the tax cuts worked GREAT, Iraq is a DEMOCRACY now, and he would NEVER lie to you! And the earth is flat, of course. Posted on Feb 01, 06 | 3:08 am | [...]
January 31st, 2006 at 10:20 pm[...] TAX CUTS FOR THE RICH DO NOT SPUR THE ECONOMY! jeebus! [...]
February 1st, 2006 at 11:04 amSOTU - Same old bleep sh*t.
Dubyuh is a moron, a pathalogical prevaricator, fabulist, liar. The biggest problem is that goat-roper Georgie really believes the scripts he's reading.
[To any NSA folks reading this - I'm not a terrier. My cat hates dogs but she doesn't hate me, so I can't be a terrier.]
Hi-ho! Hi-ho! It's off to hell we go!
February 1st, 2006 at 2:12 pmOnce again the president misspoke -- what he meant to say was:
Bush said: “In the last five years, the tax relief you passed has left 880 billion dollars in the hands of American workers, investors, small businesses, and families – and they have loaned it all back to the US Government, with interest, to pay for my massive increases in government spending."
The "theory" behind tax cuts is that the increase the available capital, so that investors can borrow and grow the economy. There is not extra capital if the government borrows all of the money back.
Wait, did I say "theory"? Republicans don't think we should teach our children theories, much less use them to run our lives -- what was I thinking.
February 6th, 2006 at 11:55 am[...] [...]
March 10th, 2006 at 4:05 am[...] [...]
March 11th, 2006 at 2:36 pmPlease help me find any historic evidence that cutting taxes on investments spurs the economy. I've searched and found no verifiable published figures that suggest tax cuts help the economy or create good jobs for Americans. On the contrary, this extra cash in the hands of the wealthy many times gets invested in foreign markets, creating jobs, but not for Americans.
May 11th, 2006 at 8:38 pmI’ve taken a quick look at your postings, which are very interesting. Lots of material and ideas! Congrats on being so focused!
November 7th, 2006 at 4:47 am