As Dow Nears All-Time High From 2000, Fox News Declares Bush Tax Cuts A Success
As Dow Nears All-Time High From 2000, Fox News Declares Bush Tax Cuts A Success
The Dow Jones is currently at 11,689 points. Today on Fox News, Neil Cavuto featured a segment on whether the Dow’s strength is the result of President Bush’s tax cuts.
Bush’s tax cuts don’t have anything to do with the strength of the Dow. Here are the facts:
– A 2005 study by four Federal Reserve Board economists “fail[ed] to find much, if any, imprint of the dividend tax cut news on the value of the aggregate stock market.” According to a Wall Street Journal article, the study concluded that Bush’s tax cuts were “a dud when it came to boosting the stock market.”
– Analysts at the Tax Policy Center found that the link between capital gains tax rates and stock market growth is “weak” and capital gains have historically risen with “little apparent effect on the stock market.”
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The investor class is taking comfort in seeing their portfolios finally back to where they were six years ago. The working class, however, who is struggling to pay for health care, fuel, and all basic necessities is not feeling any comfort.
September 27th, 2006 at 6:20 pmRich people’s money does well because it is controlled by rich people. Not rocket science to see that…
September 27th, 2006 at 6:21 pmYou can fool some of the people some of the time; you cannot fool ALL of the people ALL of the time……but nice try, Bush!
September 27th, 2006 at 6:22 pmright wing is now attacking the great Olbermann – typical!
I guess his special comments are making a difference!!!
check out some of their youtube vids
September 27th, 2006 at 6:22 pmhttp://www.youtube.com/view_play_list?p=1D14E64E0701DB37
Ahh yes, throw a little economic uptick in the mix and everything is just peaches. How fun.
September 27th, 2006 at 6:25 pmClinton was speaking at the Labour party conference today…He brought up the Bush tax cuts and the debt America was in…He said {paraphraising] Bush is borrowing money from Mexico to pay Bill Clinton’s tax cuts.
September 27th, 2006 at 6:26 pm#4, You heard that Olbermann was on the receiving end of an envelope of white powder yesterday. It turned out to be soap powder, and all is well.
September 27th, 2006 at 6:27 pmBUT, his address is known to someone who would do this. AND the righties are having a heyday making fun of the “prank.”
See, we told you so! Tax cuts for the wealthy + a one day surge in the market, some unspecified years later = Bush is a genius! Thank you Fox for the deep analysis.
September 27th, 2006 at 6:27 pmLove the question mark!
September 27th, 2006 at 6:28 pmAha! I was wondering how the administration would take credit for that. Wow, low oil prices, my 401K is doing good. Well shucks Jethro, those good ol’ boys done good. I think I’ll vote republican. Not.
September 27th, 2006 at 6:28 pm#1 just to add a caveat statement, many working folks, including myself have 401k plans that are stock market invested. A robust stock market benefits many people in all walks of life.
Economist typically can’t agree on much, probably out there are people that will advocate the tax cuts as a market booster….I think it comes down to the individual on how they are doing. For myself I’m better off in the last couple of years, but I completely understand others are not.
so to me a blanket statement on either side of the economy doesn’t ring true as the Fox banner showed.
September 27th, 2006 at 6:30 pmFox News Declares Bush Tax Cuts A Success
well, no… see that question mark? …“…Proof tax cuts work?”
September 27th, 2006 at 6:33 pmalways with the qualifier…
that’s why they say “…you decide”… if it’s true or not, i say…
So what’s really behind all the decreases in gas prices and increases in the stock market? I don’t think the politicians are influencing it. If the corporations really do have the politicians in their pockets, it would be in their best interest to keep them in office. So maybe many of the corporations are just sacrificing a little right now to make the politicians look good.
What do you think?
September 27th, 2006 at 6:33 pmHey, FOX DipShit News! does the Dow near record highs provide proof that Jesus loves you more than he loves Muslims?
September 27th, 2006 at 6:33 pmYou can be assured that, whatever’s on the FOX banner, if it is punctuated with a question mark it’s not their intent that it be pondered as an actual question.
September 27th, 2006 at 6:33 pmI’m sure in September, 1929, Herbert Hoover was gloating how great the stock market was under his economic leadership.
September 27th, 2006 at 6:37 pmYet Fox just most likely fooled the large majority of their viewers.
September 27th, 2006 at 6:45 pmNeed a stock market maven here. What was the Dow when GWB took offis? what is it today? What is the average gain per year in the dow? Therefore what should it be now about 6 years after duffus crept in? My guess about 26,600. 11500. @ 15% per year. Boy am I gonna get it on this one.
September 27th, 2006 at 6:46 pmYou losers can’t accept the fact that more money in the hands of consumers (You clowns) works! It’s called Economics 101
You all where too busy with Marxist Theology books and working diligently on Liberal Arts degree from Lennin Community College to get this.
Yea, send more of my hard earned dollars to Washington.
Get back to sewing your communal herb gardens before the sun goes down for you may be late to your drum circle at Moon Beams pad… and don’t forget to clean your bong again!!
September 27th, 2006 at 6:47 pmYou losers can’t accept the fact that more money in the hands of consumers (You clowns) works! It’s called Economics 101
You all where too busy with Marxist Theology books and working diligently on Liberal Arts degree from Lennin Community College to get this.
Yea, send more of my hard earned dollars to Washington.
Comment by Homer+Simpson — September 27, 2006 @ 6:47 pm If you think an investment made 6 years ago earned 0% interest or paid no dividends is some thing to brag about (I’ll be polite) your a MORON.
September 27th, 2006 at 6:53 pmoffis=office
September 27th, 2006 at 6:55 pmEveryone knows that going from a trillion dollar surplus to an 8 1/2 trillion dollar deficit is good for the economy. We can borrow and borrow and borrow and never have to pay it back. Yippeeeee! I want to be a Republican!
September 27th, 2006 at 6:56 pmI totally agree with FOX News. Lets use the DJIA to measure the economy and see what a big man that makes Monkey Brains and company.
When Clinton took office in 1993 the DJIA was 3241. When he left in 2001 the DJIA was 10587. That’s a change of 226%.
When Bush took office in 2001 the DJIA was 10587. Today, the DJIA closed at 11689. That’s a change of 10.4%
WOW. Obviously, the Bush economic policies are AWESOME !!! Yes, up is down, war is peace, black is white, the SMALL number is much larger than the BIG number. Now I understand the GOP and how they think. I GOT IT.
September 27th, 2006 at 6:58 pmFOX News, the bottom feeder station.
September 27th, 2006 at 6:58 pm…For myself I’m better off in the last couple of years…
Comment by richb — September 27, 2006 @ 6:30 pm
as compared to what? when? i am seriously interested in your anaswer…
have you been investing long enough to have seen a down, now upturn?
i am more inclined to think things may be as robert has reminded us…
September 27th, 2006 at 7:00 pmbut then i’m a cynic…
So..big deal….long term rates fall (because the economy is slowing) and oil prices tank (because hot money runs elsewhere, AND growth is slowing) and the Fed probably stops its rate hikes…so YAY…let’s have a party. Problem is, with housing tanking, the economy is going in the gutter soon, so you might as well enjoy the ride now, make some money when you can, but be warned, and October surprise, or maybe post election, is in the cards. This too, will end badly.
September 27th, 2006 at 7:00 pmIgnoring all of the debt of course…
I totally agree with FOX News. Lets use the DJIA to measure the economy and see what a big man that makes Monkey Brains and company.
When Clinton took office in 1993 the DJIA was 3241. When he left in 2001 the DJIA was 10587. That’s a change of 226%.
When Bush took office in 2001 the DJIA was 10587. Today, the DJIA closed at 11689. That’s a change of 10.4%
WOW. Obviously, the Bush economic policies are AWESOME !!! Yes, up is down, war is peace, black is white, the SMALL number is much larger than the BIG number. Now I understand the GOP and how they think. I GOT IT.
September 27th, 2006 at 7:00 pmThingProg+commenters….you guys are sorta missing the obvious refutation here. To borrow from Josh Marshall The ’stock market at an all time high” soundbite is one of the biggest right wing bamboozles out there. It’s a trick phrase…almost completely devoid of meaning other than to fool the person listening.
The reason it’s at an all time high today, is because the market was at an all time high when he took office, and it has been stagnant ever since.
Bush takes office and the Dow is at 10900 (roughly). Now it’s finally crept up above the point where it was when he took office, and has risen to 11700 (roughly)
Wow, what is that 7 or 8% over 6 years? That’s like maybe a 1 % compounded annual return. Gee whiz what a boom time.
Let’s put this into some perspective:
Clinton: begin 3200 -> 10900 end
Bush: begin 10900 -> 11700 now
When a wingnut makes this point to you, simply direct him to the charts…they don’t lie.
September 27th, 2006 at 7:02 pmToo bad you’ll never understand how the free market system works.
On a brighter note, remember, Fidel still loves ya!
Oh yea, Joe Friday,many people w/ a little grey matter are able to make serious bucks during an upswing. I’m sure you kept your $84 under your man stained mattress.
September 27th, 2006 at 7:04 pmIs that a fox vid?….oh….I see, a joke in other words….
September 27th, 2006 at 7:06 pmMurdock gets 3-4 death threats per day….a real knee slapper…fox should report this so all the sheep can laugh about that too.
I cannot get my full comment posted. However, if you check the closing numbers on the DJIA for 1/20/1993 to 1/20/2001 and then today, you’ll see that under Clinton the DJIA grew by 226 percent, while under George it has rocketed an incredible 10.4 percent. Well, George still has a couple more years. Of course this does not consider Clinton reducing the debt and Bush growing geometrically. I guess in Bush world this means he wins another one. Mission Accomplished !!!
September 27th, 2006 at 7:08 pm#20 You losers can’t accept the fact that more money in the hands of consumers (You clowns) works! It’s called Economics 101
So, then I guess you are for raising the minimum wage then. More money in the hands of low-wage workers means more consumption since low-wage workers usually need to spend every cent. Tax cuts for the wealthy are a gamble, since the wealthy have the option to save or spend.
September 27th, 2006 at 7:15 pm#27 probably as a result of a career choice, lots of self study and about 7 years gaining experience that is marketable.
I did have a 401k that took losses when the tech bubble burst, but over the last 4 years my 401k and my son’s 529 college plan have done well. They are managed in my choice of a low to mid risk stock choices.
September 27th, 2006 at 7:16 pm#21 why the slur against Christians, I thought this was an economic discussion thread
rich
September 27th, 2006 at 7:17 pm#17 ‘not’ #21 as I incorrectly stated.
why the slur against Christians in and economic discussion forum.
#21 my apologies for quoting the wrong number.
September 27th, 2006 at 7:19 pmrich
I had moved all of my 401K accounts into Asian and Euro based funds in 2001 and have enjoyed a 14% average return over the 5 years since. That’s a doubling of investment! I sensed that we were in for a dollar decline right as Bush was nearing success in his tax reforms. I call it piss down economics. I wonder how I would have done if I had a degree in economics (or an MBA) instead of double E and CompSci?
September 27th, 2006 at 7:19 pm#36 – why the slur against Christians, I thought this was an economic discussion thread
I don’t know for sure, but one reason is that many christians in Amerika equate the level of wealth with their god’s love for them.
September 27th, 2006 at 7:21 pmwith the dow at near record highs, unemployment near record lows, strong economic growth rates; are any progs willing to admit the tax cuts haven’t hurt the economy?
September 27th, 2006 at 7:25 pmInflation-adjusted, the stock market still has a way to go before it gets back to March 2000 levels.
September 27th, 2006 at 7:25 pmDoes Economics 101 include raising the deficit to 8 1/2 trillion dollars so that rich people can have bigger tax breaks? I must have missed that class.
September 27th, 2006 at 7:27 pmMt brother recieved his doctorate from MIT in economics, worked for the OECD in Paris for three years, was a senior economist for the FRB for twelve years and is now running a hedge fund based out of London. I asked him if the Bush tax cut was a good idea at the time. He simply answered, “F@#& no!”
That was proof enough for me.
September 27th, 2006 at 7:27 pm#39 none that I know, the Christian faith has many facets and there very well be people that do as you stated.
But to be in a journey of faith is not driven by money, lumping an entire religion based on what some people might do does a disservice to countless millions that adhere to the true meaning of Christianity or other walks of faith.
rich
September 27th, 2006 at 7:28 pmThis is so lame, Amanda. Even my teenage son understands that if I increase his allowance he will have more money, sooner, to spend or invest. But no-o-o-o, I’m sure that has nothing to do with the rising stock market.
September 27th, 2006 at 7:32 pmYou give tax breaks to the rich because their the ones who pay the taxes you dip stick!
Go to Cuba and see how your model works. Get a life and get a job there ya hippie!
September 27th, 2006 at 7:32 pm#42 I think you have hit the key issue………. of the tax cuts, to allow those tax cuts but NOT have a reduction in the growth of spending is foolhardy. A Republican Congress and a Republican President own that deficit, a generation of Americans will have the bill due.
September 27th, 2006 at 7:33 pmThe economy is good. But somehow the progressives still will not budge. Can’t concede for a second that maybe the conservatives did something good or right. Conservatives are still evil and stupid.
September 27th, 2006 at 7:33 pmLet the insults and name calling begin.
with the dow at near record highs, unemployment near record lows, strong economic growth rates; are any progs willing to admit the tax cuts haven’t hurt the economy?
Comment by paul — September 27, 2006 @ 7:25 pm
You bet!. Most likely the largest defict in history that will be a economic burden for decades. Other than the depression(and I’m not sure on that) the worst Dow preformance in its history over a 6 year period. Paul I would like to borrow(you can call it an investment for you) from you $100,00.00 and in 6 years from now will pay you back $100,00.00 is that a deal? Don’t take too long a goldeninvestment like this does not come around often–jump on it.
September 27th, 2006 at 7:37 pmthanks for the reply, richb…
September 27th, 2006 at 7:39 pmi was hoping for more than 7 years worth to get an idea…
anything math gives me a headache, but i need to get this figured out…
i’ll read more later… have a date with my mom :-)
one of those damn catalog parties… but it’s family…
#45 thanks for giving me poster I can ignore going forward
September 27th, 2006 at 7:40 pmYou know, the fair tax is the best tax system.
September 27th, 2006 at 7:47 pmYou give tax breaks to the rich because their the ones who pay the taxes you dip stick!
Go to Cuba and see how your model works. Get a life and get a job there ya hippie!
Comment by Homer+Simpson — September 27, 2006 @ 7:32 pm
Let me get this right, The rich in Cuba pay what tax rate? How much do those models in Cuba make and what is their tax rate? I would like to go to Cuba and watch the models work. What jobs are available there and do they provide health care? also dental?? Lastly are you sure they sell Life there I thought they banned that plublication.
September 27th, 2006 at 7:49 pmYou know, the fair tax is the best tax system.
Comment by Kevin — September 27, 2006 @ 7:47 pm
Kevin, what would happen to all the trolls? Can’t pass special laws to help big donors. The whole economy would crash. I think I read some where that political consultents raked in like $2 trillion in the last four years.
September 27th, 2006 at 7:55 pm#47…you are so funny! Rich people don’t pay taxes! It’s called loopholes. Go back to school! How do you think Ronald Reagan got out of paying taxes on his ranch? He put a cow on it so he could call it a farm! Look it up! You are too funny!
September 27th, 2006 at 8:00 pm#47. Are you saying that only the rich pay taxes? I’m confused. You do live in the U.S.A, right?
September 27th, 2006 at 8:01 pmThis is such a no brainer that ONLY a homer simpson level of intelligence would find it intriguing. Let me put it into the context that this needs to be “analyzed”.
If you personally feel good about the economy and its prospects for the future and for your children’s future – vote in November for the party currently in control. If you don’t, then vote for the other party.
Everyone sees their own paychecks, knows their own bills, is aware of their portfolios, knows how their pensions or 401(k)s are performing, and is fully aware of how far their discretionary income goes. No amount of “expert” analysis from outsiders is going to change that.
September 27th, 2006 at 8:06 pmNice job Kommrade Joe Friday.
Holding up a communist system as the way to go. You cats are really sad!
Let’s se you write something negative about Castro if you lived there. Does a severve beating a day, if you one of the lucky ones, sound like fun in Playland?
Your blind hated for Bush has you all spin EVERYTHING to the negative.
September 27th, 2006 at 8:06 pm#62. Are you obsessed with Cuba and Castro or what? Also, I have not seen any posts on this thread advocating Communism. You are starting to sound very foolish, which is good because you are discrediting the right.
September 27th, 2006 at 8:12 pmJuizzee,
The top wage earners pay a MUCH higher rate than low wage earners.
The top 20 percent of wage earners PAY approx 80% of all taxes.
But somehow you’ll come back with another stupid, uneducated post showing you know absolutely ZERO about the tax system and our form of government.
The lefties alwys preach class warfare. Look at how now their going after Walmart. WTF! If you become too successful in the US, the Dems attack…Eeeek!
September 27th, 2006 at 8:12 pmWhat kind of weed are these idiots smoking?
September 27th, 2006 at 8:13 pmOh and homer, since you speak in such derogatory terms in regard to Cuba and its people, I presume that you have studied that country’s history and are fully aware of how the current government came to power. I presume that since only a monumentally stupid person would offer such scathing opinions about something that they know nothing about.
So please enlighten me with your knowledge of Cuba and its history. Just start from the 1940’s on so as to save time.
September 27th, 2006 at 8:18 pmWhen the 2000—2003 Bush tax cuts are fully in place in 2010, the share of taxes paid by the bottom 95 percent of taxpayers will rise by 3.8 percent, while falling 3.8 percent for the richest 5 percent. It is estimated that between 2002 and 2004, a full $197 billion in new tax breaks went to the top 1 percent of American taxpayers.
September 27th, 2006 at 8:22 pmhomer,
Your statement:
The top wage earners pay a MUCH higher rate than low wage earners.
The top 20 percent of wage earners PAY approx 80% of all taxes.
is wholly incorrect. I say that with absolute certainty. So please, prove me wrong, show me the data from the IRS that substantiates your claim. And to head off a moronic attempt, the “tax table” does not count, it has to be actual tax revenues and their percentages against reported GROSS income.
Waiting…
September 27th, 2006 at 8:23 pm#64. Considering that the income gap continues to increase, it seems a high tax rate is not hurting the rich’s ability to invest. A progressive tax system seems to work very well in other countries whose economies are now considered stronger than the U.S. (like in Scandanavia).
Many anti-Walmart activists are merely advocates for small business and fair wages – that doesn’t seem so scary to me. Part of the reason America’s economy is so strong is that there has been a strong tradition of anti-trust and anti-monolopy policies. In fact, I believe concentration of wealth is bad for democracy in the U.S. because it tends to make “one person – one vote” take a back seat to “one dollar – one vote”
You gotta think of some better insults, by the way.
September 27th, 2006 at 8:29 pmYeah, the “economy” is great. 36 million Americans live BELOW the poverty line, up 1.3 million in the last year. If @ 15% of the country lives BELOW the poverty line by definition the economy is in the toilet.
September 27th, 2006 at 8:37 pmYour blind hated for Bush has you all spin EVERYTHING to the negative.
Comment by Homer+Simpson — September 27, 2006 @ 8:06
No, a murderer, torturer, wiretapping, civil rights ignoring, alcohol addicted drug addict war criminal who is getting American soldiers killed while stealing the US treasury for his drinking buddies while male prostitutes visit the West Wing of the White House 96 times and destroying the Constitution have us spinning things negative.
September 27th, 2006 at 8:41 pmYour blind hated for Bush has you all spin EVERYTHING to the negative.
Comment by Homer+Simpson — September 27, 2006 @ 8:06 pm
Gee homer, all I said was I would go to Cuba to watch the models work. Never said anything about Bush or Castro or trains or getting drunk. However, you should read up on Batistas second time he ruled Cuba. Some would say Batista makes Castro look a girlie boy as far as beating up on the opposition ( not me) just some people. Be carefull on that in Miami there are still a lot of Batista supporters there waiting to get their estates back. Now this should be fun!
September 27th, 2006 at 8:51 pmthe(in-process) bursting real estate bubble has got many investors putting money back into the stock market for, the predicted, better future returns
September 27th, 2006 at 8:52 pmsto
You show your total igronance of economics. Keep your head in the sand “and the NY Times” and keep voting for the party of victims since you are obviously one.
“Tax the rich, feed the poor, till there are no rich no more”
September 27th, 2006 at 8:59 pm-Ten Years After-
Ieeeee The sky is falling, the sky is falling!!!
Try to smile folks. We live in the greatist county on the planet!
(Even though you think we’re the worst)
Most of the world is envious of us so they trash us. Look at Steinbrenner, if your not a Yankee fan, you hate the Yankees…and I’m no Yankee fan!
September 27th, 2006 at 9:08 pmhomer, it’s o.k guy come on back in off the ledge. We sure there is some one some where that cares about you. Just don’t jump. Maybe the models in Cuba?
September 27th, 2006 at 9:20 pmBush’s tax cuts have been wonderful for the rich. For the rest of us, it hasn’t done a thing. The current economy helps the rich get richer and the poor get poorer.
September 27th, 2006 at 9:22 pmWhen I was a kid and there was a downturn in the economy, Repubicans would push for tax cuts, and Democrats would push for stimulus packages. And if they were targeted correctly, each approach always seemed to work.
George Bush did both. He has poured billions of dollars into the economy with his tax cuts and wild spending, and all we got was increased corporate profits, a stock market that is still not where it was 6 years ago, job growth (of mostly mediocre jobs by the way) that still hasn’t reached where it was 6 years ago, and this is somehow a success?
With the money that has been poured into our economy so far, our economy should be tooling along faster than it ever has in history.
Sorry, but the very title or all these articles about the dow breaking records is absurd. The story isn’t that it’s breaking records, it’s that it took so long to simply get back to where it was when he started in office. And his tax cuts are not proof of success. The fact that our economy is tooling along minimally* in spite of the massive cuts, is proof that he failed miserably.
*except for corporate profits.
September 27th, 2006 at 9:23 pm“Empower the masses, AKA progressive economics, and get 20th century growth and progress. Empower the masters, AKA supply side economics, and get 19th century growth and progress.”
anonymous
Corporate profits zoom through the roof; americans feel the pinch in their budgets…..SOP for the corrupt, greed-filled GOP! Screw the people – it’s obvious from Katrina that this is their “mantra”.
September 27th, 2006 at 9:30 pmAs Bob Dylan said, how do ya make the country grow? Bridget Bardow, that’s how you make the country grow.
It’s not the tax cuts, it’s the debt, daddyO
September 27th, 2006 at 9:44 pmU.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 28 Sep 2006 at 01:40:36 AM GMT is:
$8,492,898,107,644.41
The estimated population of the United States is 299,587,385
so each citizen’s share of this debt is $28,348.65.
The National Debt has continued to increase an average of
September 27th, 2006 at 9:46 pm$1.54 billion per day since September 30, 2005!
Concerned? Then tell Congress and the White House!
#77. Oh, the old “they hate us because we’re beautiful” argument. That’s f***ing genius, big guy. And that’s the stupidest sport analogy ever, you moron.
I just wanted to give you some insults back.
September 27th, 2006 at 9:57 pmWhich president paid down Reagan’s and GHWB’s outrageous debt and turned it into a surplus? Clinton or GWB? Why are Republicans always so fiscally irresponsible and then expect Democrats to bail them out?
September 27th, 2006 at 10:03 pmJizeee,
You will never have the mental capacity to return bitch-slap anyone.
Read some of what you people write. I’ve seen the phrases Nazi’s, Reichmeisters, murderers, criminals when you talk about about our leaders.
If it’s that bad, pack up your rusted “74″ Dodge Duster and head to Mexico. You’ll be like a salmon coming up stream with all the Central Americans trying to get here, the “Shining City on the Hill”.
September 27th, 2006 at 10:08 pmI was putting a few bucks aside to invest in the stock market until gas prices,heating oil and healthcare payroll deductions went through the roof. Any good pennystock tips? or should I just buy gold coins like my friends.
September 27th, 2006 at 10:20 pm#88. You made fun of my name… THAT’S AWESOME, DUDE.
I never said, “Nazi’s, Reichmeisters, murderers, criminals” so why the f**k are you are bringing it up in post directed at me, you Nazi. Que puedo hacer en Mexico sin tu? Do you know anything about America’s history of policies toward Latin America (i.e. supporting dictators, death squads, murder of clergy)? As long as Latin American despots do Washington’s bidding, they have had a free pass to make damn sure no dark-skinned people have rights. So stop talking about my people, you ignorant f**k.
September 27th, 2006 at 10:24 pmHomer or “Homo” has manyogurt on his mind again like most of the in-the-closet right… HAAAN hAAAn
September 27th, 2006 at 10:28 pmInvest in Halliburton….high return guaranteed.
September 27th, 2006 at 10:28 pmIf it’s that bad, pack up your rusted “74″ Dodge Duster and head to Mexico. You’ll be like a salmon coming up stream with all the Central Americans trying to get here, the “Shining City on the Hillâ€.
Comment by homer+simpson — September 27, 2006 @ 10:08 pm
No we are not leaving. We are going to run them out of office and with some luck send them to prison where they belong. Who knows maybe the guards will take all their clothes off of them and stack em up in a pile and make them do “GAY” things to each other. Beats the crap out of a rusty Dodge Duster any day. We could call it “rethugs gone wild”.
September 27th, 2006 at 10:29 pmthe Dow is rising because the housing market is about to tank. The money has to go somewhere. Anyone that is in the market to buy a house your time is coming, just don’t count on your equity rising much for the next 3-4 years. Tax cuts my ass.
September 27th, 2006 at 10:35 pmJizzbag
I wasn’t quoting you directly scuz ball “I never said Nazi”…… Then you call me a Nazi you lobotomized worm.
Don’t believe all you read in the NY Times Mr Potato Head. What Latin Despot does Washingtons bidding? You’ve been watching too many reruns of “Mission Impossibe”.
Put down the water pipe and get a clue you Anti American left wing dupe!
September 27th, 2006 at 10:36 pm“#1 just to add a caveat statement, many working folks, including myself have 401k plans that are stock market invested. A robust stock market benefits many people in all walks of life. ”
err dude….in a 401k you don’t pay taxes now! you don’t benefit from the dividend exclusion and the lower cap gain rates……
and when you withdraw it is counted as earned income….fully taxable at the highest rates….while people with money have saved the tax over and over as they clip and save or churn….
September 27th, 2006 at 10:41 pmI was putting a few bucks aside to invest in the stock market until gas prices,heating oil and healthcare payroll deductions went through the roof. Any good pennystock tips? or should I just buy gold coins like my friends.
September 27th, 2006 at 10:42 pmComment by Average Joe=================================
Buy a .45 and a shotgun, if the repugs win again in November things will go to hell in a handbasket and stocks won’t be worth crap. Four more years of repugs and a .45 will be your best freind.
#95. I can’t believe you didn’t get my joke calling you a Nazi after decrying your bringing up the term. You really are an idiot.
I don’t read the NY Times.
Let’s take a few examples of Latin American killers supported by Washington:
Arbenz
Somoza
Noreiga
Allende
Martinez
and many more…
and our favorite in S. America now is Uribe who has been connected to paramilitary death squads.
and have you ever heard of the “School of the Americas” – probably not.
By the way — I feel that you are anti-american if you are supporting the current Republican party.
September 27th, 2006 at 10:51 pmAmendment to #98. Oh wait. Allende is the democractially elected President of Chile that the CIA helped kill — and that’s why Henry Kissinger is scared to go down to S. America.
September 27th, 2006 at 11:03 pmAnother Allen teammate recalls deer head incident
http://www.salon.com/news/feature/2006/09/27/allen_deerhead/index_np.html
September 27th, 2006 at 11:10 pmLOL the stock market just before the crash of 1929 was high too, and then it collapsed so expect the same soon, and a new “Great Depression”! Thank Bush and the GOP for the expected economic calamity!
September 27th, 2006 at 11:18 pmRE:101
September 27th, 2006 at 11:42 pmHow quickly we forget history… The stock market was doing great in 1999, but just 6 short months before Clinton left office, the economy began to tank. By the time he left office, we were already in a full blown recession. Talk about a “bubble”. Way to plan for the future “Slick Willie”! So much for the great liberal agenda ruling the American economy!
The stock market nears its highest since 2000.
There is no solid foundation. It’s a house of cards.
Start selling tomorrow.
Seriously, I shit you not.
September 27th, 2006 at 11:59 pmHow quickly we forget history… The stock market was doing great in 1999, but just 6 short months before Clinton left office, the economy began to tank. By the time he left office, we were already in a full blown recession. Talk about a “bubbleâ€. Way to plan for the future “Slick Willieâ€! So much for the great liberal agenda ruling the American economy!
Comment by coachjason
The stock market is but liars poker..
September 28th, 2006 at 12:28 amWay to plan for the future “Slick Willieâ€! So much for the great liberal agenda ruling the American economy!
think about it coach, the price of gas skyrocketed because of hurricanes, wars, rusted pipelines, sabotage, etc etc..
nothing has changed and suddenly the price is dropping for reasons unknown. Iraq is not pumping more oil, the shutdowns of rusty equipment didn’t increase supply, did we begin more drilling in Alaska? Why no, most of our oil comes from cananda and mexico, venezuela.
Chavez is now a great threat, raise the price of OIL!!!
Liars poker Coach..
September 28th, 2006 at 12:36 ambtw… did anyone else think of ‘ten years after’ when jet came out with ‘are you gonna be my girl’?
first time i heard that song, it took me back to … way back :-]
g’nite all… say your prayers…
September 28th, 2006 at 12:47 amHomer,
I have to ask: What part of the country are you from? Remind me NEVER to go there.
t-mac
September 28th, 2006 at 1:09 amYou sick, pathetic bastard liberals… Excuse me, “progressives”.
September 28th, 2006 at 1:34 amprobably as a result of a career choice, lots of self study and about 7 years gaining experience that is marketable.
I did have a 401k that took losses when the tech bubble burst, but over the last 4 years my 401k and my son’s 529 college plan have done well. They are managed in my choice of a low to mid risk stock choices.
September 28th, 2006 at 2:09 amJmiles #9
The media has started reporting rumor or speculation with a question mark. Why bother with accuracy when you can make any statement about anyone or anything (even things they know to be false) by just putting a question mark after it.
“Is Bill Clinton Gay?”
“Is Hillary really Satan?”
“Are Liberals helping the terrorists?”
“Bush greatest president ever?”
See how much fun you can have with a simple question mark (?)?
September 28th, 2006 at 3:51 amRandal #101
Yep, the bubble is about to burst. What goes up must come down. And it will all come crashing down soon. It has been falsely propped up because an election draws near. Also… gas prices are dropping, but not much in “blue” democrat states. You don’t think red states are getting better breaks to influence elections do you…. nah…
September 28th, 2006 at 4:06 amEver noticed:
When the economy is doing badly the administration calls it cyclical.
When the economy is doing well, the administration calls it their good governance?
This is true of both parties.
September 28th, 2006 at 4:48 amRe: 105
September 28th, 2006 at 8:03 amLiars poker is a great way to put it. Who do you think really holds the cards, a president that changes every 4 to 8 years, or the millionaires who speculate on the prices? Their income is based on how oil does in the market. I’m sure they have more power than any president.
Also, there are those who think gas prices are down due to elections… Are you serious? 2 years ago, when Bush was running for reelection, gas prices were steadily climbing. I think we hit the $3.00/gallon mark right around november 1st. I heard lots of people saying then that They’re gonna drop right before the election so Bush can use that as an election tool. Well if it didn’t happen for him, do you think he’d do it for a few congressmen? Especially when some are ones who have conflicted with his policies.
Presidents can control tax rates, they cannot control a free-market economy and/or product. (Though I would agree that starting a war in an oil producing country could raise the price)
I guess “the whilrwind is in the thorn trees…” -Johnny Cash
I believe that the Dow’s new highs are far more likely the result of the Dems implosion as the Nov. elections draw near, as opposed to tax cuts implemented years ago. Certainly, the tax cut are essential, but the timing is too obviously a result of recent polling showing the Reps will hold both houses of congress.
September 28th, 2006 at 8:59 amHow quickly we forget history… The stock market was doing great in 1999, but just 6 short months before Clinton left office, the economy began to tank. By the time he left office, we were already in a full blown recession. Talk about a “bubbleâ€. Way to plan for the future “Slick Willieâ€! So much for the great liberal agenda ruling the American economy!
Comment by coachjason — September 27, 2006 @ 11:42 pm
Bull.Real GDP 1999= $9.47 2000=$9.81 2001=$9.89 in trillions next Real GDP per capita 1999=$33939 2000=$34788 2001=$34692. Where is the full blown recession?? There never was recession during Clintons term. i.e never three quarters in a row of negative GDP growth. You dream about Clinton don’t you?
September 28th, 2006 at 9:30 am#116 – “I believe that the Dow’s new highs are far more likely the result of the Dems implosion as the Nov. elections draw near, as opposed to tax cuts implemented years ago.”
Jason! Wake up! You’re dreaming (yet) again!
The Dems are going to “win” simply by getting more seats this election, and having more Governors than Republicans. Historically, when more Governor’s of the states are of one party the next election tends towards that party. The Dems don’t have to take back the majority for it to be a “win”. Of course, there is the chance they will take back majority in either the House or Senate and start holding the Bush Administration accountable for their failures. It’s interesing that “personal responsibiility” is a double-standard for Republicans to be held against Democrats, but no Republican is supposed to be held responsible for their failures. Go figure.
By the way, I find it interesting that you’re STILL “cutting and running” from my challenge for you to call for the network broadcast of the Pres. Reagan docu-drama. Why do you maintain double standards, Jason?!?
September 28th, 2006 at 9:34 amMy God- get an education. Every single post has grammatical errors that most 8th graders have down pretty solid. I have a vision…..’Homer Simpson’ is sitting in his underwear in the basement of his mother’s house, eating mayonnaise sandwiches off his keyboard. As the scroll ticks by on Fox News, he hunt’n-pecks out unsubstantiated attacks on TP while getting a tiny but vigorous erection.
Do you know where you can get a really good rush, HomerSimpson? IRAQ! Oh yeah, they’re (not there or their)ready for you to sign up and show everyone that you’re (not your) able and willing to stand up and face the 70% to 80% of Americans that think Bush is hurting the country six ways from Sunday…..by showing us that you can by-god FIGHT! The enlistment age is now 42.
BTW- I’m not going to argue with you about your economic prowess. You’re so limited in your grasp on the concepts (SHORT COURSE: “Economics 101″ & the “Free Market System= Theories; Bush Economics = documented failure) that it would be a monumental waste of time.
September 28th, 2006 at 9:57 amOf course Bush’s tax cuts are working. If lliberals can’t see that then that is good because that actually helps the GOP …. So please, liberals, keep preaching about how BAD tax cuts are …. please …. please…
September 28th, 2006 at 10:09 amRE:117
Congress’ Joint Economic Committee Says Signs Of Economic Slowdown Were Apparent In Mid 2000. “By mid-year 2000 … signs of an economic slowdown began to proliferate; it became apparent that an economic slowdown was underway. A number of key economic and financial indicators provided evidence of such slower growth and suggested that future growth could weaken. A brief summary of important elements of this evidence, for example, would include the following:
* Real GDP slowed from a robust 5.6 percent annualized growth rate in the second quarter of 2000 to 2.2 percent and 1.0 percent in the third and fourth quarters, respectively, before rebounding modestly to 1.2% in the first quarter of 2001.
* Key components of GDP such as real consumption expenditures slowed after mid-year as real income growth moderated, stock market values fell, employment gains lessened, and consumer confidence stalled and then deteriorated. Movements in retail sales generally corroborated these developments.
* Gross private investment also contributed significantly to this general slowdown with most key investment categories registering actual declines by the fourth quarter and advances of non-defense capital goods (ex-aircraft and parts) orders falling sharply after mid-year (on a year-over-year basis).
* The index of leading indicators trended down after January 2000.
* Employment advances slowed dramatically after mid-year. Gains in total non-farm payrolls, for example, averaged about 256,000 per month for the 2 1/2 years prior to mid-year 2000 and 44,000 per month after mid-year 2000. The average workweek also decreased after mid-year.
* The manufacturing sector also has weakened significantly since mid-year 2000. Industrial production, capacity utilization, the Natural Association of Purchasing Managers index, as well as manufacturing employment and workweek have all registered significant declines since mid-year 2000.
* Financial equity markets began to deteriorate about mid-year 2000 as well.
BTW A recession is defined as 2 straight quarters of negative GDP growth.
Maybe I do dream about Clinton, but those pale in comparison to the Wet Dreams you have about Bush
September 28th, 2006 at 10:16 amCheck your facts before you spout off more of what Al Franken told you to say Joe Yesterday
This morning on CNBC the moment that could’ve been a record…
…was doused with reality from the stock market cognoscenti…
…who declared the up tick a non-event…
…because personal protfolios were still STAGNANT…
…Amen!
September 28th, 2006 at 10:55 amRepublicans moan
September 28th, 2006 at 10:57 amRepublicans bitch
“Our rick are too poor,
Our poor are too rich.”
WALL STREET STOCK PRICES WERE AT ALL TIME HIGHS IN
1929
JUST BEFORE THE CRASH AND HOOVER DEPRESSION!
There is not the economy to support the high stock prices – we are at Septemeber 1929 again.
THIS IS JUST THE MEGA-RICH CORPS AND SUCH ON A DEAD-DRUNK MANIC SPREE OF MADNESS Before Wall Street Crashes!
KERPLUNK!
September 28th, 2006 at 11:01 amI see a lot of righties posting here this morning… Is it because the lefties are still in bed??? Gub’ment check should be here in less than a week… yipeee they get to eat again soon. And they were gettin low on smokes too.. And the beemer needs a new cd player and some monitors in the head rests would be sweeeeet! Doesn’t the PS3 come out soon, will ya trade some food stamps for one?
September 28th, 2006 at 11:54 amI think the libs use to sit here and pat each other on the back when they came up with rude names for Republicans. Then we come along an hurl facts at them and drive them underground again.
Use to be a time when calling someone a liberal was an insult. Oh, I guess it still is. That is why they try to be called “progressive”.
ROTFL
September 28th, 2006 at 12:38 pmCorporate Welfare * The Shame Page *
September 28th, 2006 at 12:40 pmUse the Corporate Welfare Search Engine
September 28th, 2006 at 12:42 pmWhatever slap Happy fool for Bush > lol
September 28th, 2006 at 12:43 pmOf course the tax cuts worked…. for the RICH. I fail to see how this evidence of the uhhhh booming (?) economy is helping the average american afford their increasing health costs and declining wages.
Incidently, the economy moves in waves regardless of the tax cuts, so I highly doubt it had any effect anyway. I’d like to see Fox News find real evidence.
The almighty fox news subtitle is classic “correlation without causation.”
“When I clapped my hands, I got a phone call. Therefore, anytime I clap my hands, I will get a phone call.”
No.
September 28th, 2006 at 12:50 pmSo your saying Clinton had nothing to do with economic prosperity? It was just a wave? Hey, for once I agree.
ROTFL
September 28th, 2006 at 12:54 pmHeres whats new at the Corporate Welfare *Shame Page*
Corrupt Government Giveaways Will Continue, Admits Congressman
Help Taxpayers — Take Big Oil Off Welfare
Government Fails to Collect Public Revenue
Taxpayers Deserve to Know How Their Money is Squandered
Military Spending Scandal — The Department of Waste
Some Courts Take Steps Against Corporate Welfare Queens
Wal-Mart Welfare
Using Corporate Welfare to Bias Elections
Corporate Welfare Queens Laugh as Toady Scrambles to Give Them Handouts — D.C.’s Corrupt Mayor Wants to Give Away $440 Million While Schools Rot
World’s Biggest Corporation is a Welfare Queen
To Boost Corporate Welfare Giveaways, U.S. Forest Service Tells Lies
WTO Rules Against U.S. Cotton Subsidies In Landmark Decision
Corporate Welfare *Shame Page* continued
September 28th, 2006 at 12:57 pmSappy Guy,
I’m a proud liberal progressive …
…and I guess your parents (or someone else in your retarded line) has died and left you some money…
…cuz you’re WAYYY too stupid to have any…
…any other way…
September 28th, 2006 at 1:38 pmThis is another example of Fox New using the “?” to get away with saying anything. The only people the tax cuts helped was the rich. Fox News is nothing but a state run propaganda machine?
September 28th, 2006 at 3:54 pmFirst, where did I say that? To quote what many posters here say… “Holy strawman, Batman!”
The waves of ups and downs with the economy is basic economics here. Did you ever go to college? There are things you can do to stimulate the economy to encourage the lows to not go so low, or to make the highs higher, but you can’t immediately “turn the economy around” quickly with any legislation. However, you can make the economy take a dump REALLY quickly. You can thank all the morons who overinflated the tech sector during the “bubble.”
But back to the context of the post, they are saying after four years of unsteady growth and loss (how many times has the economy bounced back and forth before reaching the high which was only “since 2000″ when the economy completely tanked) that tax cuts MUST be the cause! There is no proof. There is as much evidence that tax cuts fixed this as the fact that I made pizza last night for dinner. If I make pizza for dinner tomorrow, does that mean the economy is going to get better tomorrow? Absolutely not. You and Fox News need to learn about cause and effect.
Also, how about some real proof (some studies by economists would be nice) about this supposed benefit of tax cuts over the past four years? You never hear about it. You just hear anectdotal evidence like “wow yesterday was a good day so we can forget about the last four years of suck!”
September 28th, 2006 at 3:56 pmWhat’s wrong with hippies anyway? Peace, love, caring, pro environment etc. I don’t consider myself “a hippie” seeing as they really faded away with the 70’s for the most part. Um, Christ was a hippie in every way. Go ahead and call us liberal hippies…sounds fine to me. I am clean, bald and professional but maybe I am a hippie!? Kinda cool actually! Better than war monger, fear spreader, greedy self centered republican with no care for the future generations.
Fox news? Oh puleeeze! Who cares…..
September 28th, 2006 at 4:19 pmJesus was a man who was a hippie! Get over it!
Stock market did better under Clinton’s tax cuts than Bush’s tax cuts. I always thought the GOP was better for business. See 1990’s, that helped me change my mind. Dems are better for the middle class and business. GOP = useless propaganda, inorder to maintain power to keep the masses in their places, while they pimp the treasury. See 8.5 billion missing from the Iraqi funding & noone gives a crap!!!
September 28th, 2006 at 5:07 pmBTW A recession is defined as 2 straight quarters of negative GDP growth.
Maybe I do dream about Clinton, but those pale in comparison to the Wet Dreams you have about Bush
Check your facts before you spout off more of what Al Franken told you to say Joe Yesterday
Comment by coachjason — September 28, 2006 @ 10:16 am
That woke you up. Recession two or MORE quarters of negative GDP growth ( I’ll give you a little on that one). Most important it was a very mild one (if it was one at all) occuring after about ten years of very healthy economic growth. Your bull $hit “full blown ” recession is pathetic. The stock market has done ZIP in the 6 years your boy has been in charge. The deficit is out of controll-so you are proud of that? Hey coach tell what level the Dow should be at now after six years of your boys management compared to the historical average gain expected. I’ll give you a clue it ain’t 11,700 and change. Put that in your jock strap.
September 28th, 2006 at 6:05 pmbtw… did anyone else think of ‘ten years after’ when jet came out with ‘are you gonna be my girl’?…
Comment by katy — September 28, 2006 @ 12:47 am
“what the hell’s she talking about?”
well, i posted a comment in reply to this:
“Tax the rich, feed the poor, till there are no rich no moreâ€
-Ten Years After-
Comment by homer simpson — September 27, 2006 @ 8:59 pm
but it seems to be lost in the netherlands, again…”
that 1971 song was ANTI all right… a classic protest song…
September 28th, 2006 at 7:06 pmthis song was chosen as one of another 50 “top conservative songs” by some guy at national review, who proclaimed it to be “anti-hippie”…
i posted a link to the lyrics and a you-tube video…
it’s obvious the homers don’t examine the things their leaders tell them to believe in…
ten years after/alvin lee = conservative … …ah hahahahahahaha!
If you can’t see the action on the Dow as a deliberate attempt by big $ interests to make things appear WAY better than they are on the eve of midterms, then I guess you’re as dumb as I was afraid you are.
September 28th, 2006 at 7:51 pmNapoleon said” Religon is what keeps the poor from killing the rich “….and a few scraps before elections.
September 28th, 2006 at 11:02 pm(lower side) Multimillionaire’s Tax Opionion
I’m not rich from no-bid government contracts, but from the market system, and I strongly advocate tax that costs/benefits people as equally as possible (i.e., a tight progressive tax, not the regressive ‘flat tax’): I’m a “fair tax†enthusiast not because I’m a bleeding heart liberal, just a liberal – but because I CAN’T GET/STAY RICH if middle class consumers are too broke to buy my stuff!
Several bloggers were correct that we wealthy folks have MANY loopholes around taxes – though I only have a few million unlike billionaires who pay almost nothing or even get subsidized.
We and corporations take up the bulk of the court system, get preferential police and fire protection, and pay less general cost for most services and infrastructure relative to benefits reaped, not to mention locating to better school districts and neighborhoods.
But the SELFISH reason I want to pay my “fair†share is that if I cheat, it incentivizes lawyers and accountants to perpetuate an ever-more-dishonest system and they then co-create more rich people who pay less: A RACE TO THE BOTTOM, where taxation becomes very inefficient as more administrative costs go to collection from more lower earners.
WE RICH BENEFIT by a strong middle class: (1) they have more disposable income for our products, (2) our employees suffer less turnover and friction, (3) with easier access to the wealth-class, it becomes more realistic, praised, and self-reinforcing, helping us KEEP more wealth, (4) there is less “hate the rich†class war attitude, and we then pay less social cost to legitimize our existence and do damage control during conflicts, and (5) psychologically, we feel more “in-group†with members of lower classes and notice less hostility to us from those classes.
These are just a few ways simply paying a few more bucks in an arguable VERY good deal for all of us – progressive tax – leads to more happy people for less money and social cost. And this is all just off the top of my head, IMAGINE what we could come up with if we undertook a serious study. Feedback welcome – you people are smart and pleasant!
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