Is The Booming Bush Economy Raising Your Wealth Or Passing You By?

Question

Record low unemployment, highest percentage of home ownership, a booming stock market with companies making record profits. Life is good.
http://dailynews.att.net/cgi-bin/news?e=pri&dt=070530&cat=news&st=newsd8peuado0&src=ap



e=pri&dt=070530&cat=news&st=newsd8petvso0&src=ap

Unless you are a out of work liberal slacker subsisting on the governments largess.

Or like incognitowtruck who is a minimum wage unarmed security guard at WalMart.

Answer 1

I'm not in the greatest of situations, but I dug that hole. It'd be a lot worse if it weren't for the Bush tax cuts. If they don't pass the Fair Tax(H.R.25/S.1025) then they should not only make the tax cuts permanent(good luck with the Democrats in Congress), they should make further cuts. Eliminate tax on interest, dividends and capital gains. This should encourage saving and investment. People can then save their money for something at a faster rate and they won't have to borrow and pay interest. Also with fewer people borrowing and more people saving, lending rates will come down and savings rates can go up. Tax revenues should not decline. In fact they should grow.
They should cut corporate taxes(payroll, medicare, medicaid, social security). These taxes put American companies at a disadvantage on the world stage. These are some of the reasons American companies move out of the country. If you don't overtax them they can employ more American citizens and legal immigrants. That means even more tax revenue WITHOUT higher taxes.
Just some examples of how to breathe life back into the American economy and put the American worker back to work. That's where we want to be.

Answer 2

Im not an "out of work liberal slacker"....Im a 46 yr old professional thats invested well, have a secure retirement ready, have no worries and have voted republican my entire adult life.......but I dont see the same future for my children, the jobs are going away, Washington has sold the middle class out, we are on the road to having only the upper and lower class in this country.
We also have record home foreclosures, a record deficit, a savings rate approaching zero, an ever expanding trade deficit, a devalued dollar, a health care system in disrepair, Sorry dude but this booming economy is only being enjoyed by those in the upper income brackets. Let me ask you this, when a country is thriving shouldnt evryone benefit that is willing to work for it? That sure isnt obvious from the $6/ hr entry levels jobs in the paper.

Answer 3

Well I am doing pretty well, making about 2 1/2 times as much money as I was making in 2000, I have an investment or two and luckily due to estate tax law changes I wasnt hurt by that this last year.

I would say that it is mostly due to my own efforts but I can't deny that there has been a little but if tax relief. Any of you taht pay taxes in the USA have been able to keep more of your money.

Yea a stock I own has more than doubled in value in the last few years also which has been nice. Of course its a Canadian company but its on the US market.

Answer 4

I have read your answers so far, and I see two different perspectives here. One from the rich and totally out of touch, and they of course think the economy is doing well, because they are totally clueless about how things really are for the rest of us. As long as they are doing well, nothing else matters to them, and they think they are perfectly justified in making the asinine assumption that anyone who is not doing well is a lazy bum. Well, they could not be more wrong. Working class people actually work harder, and are rewarded less, than wealthier people. The wealthy are the exploiters, and the working class are the exploited. This is not the way it should be, and it is not the way it would be if we were a highly evolved and enlightened society. But, we are actually a very primitive society. And those of you who are offended by my last statement, and give me lots of thumbs down, are actually the most primitive of all. The more enlightened and evolved among us, actually know that our society is very primitive, and so we don't get upset when someone makes this statement, because we know they are speaking the truth, and we know that it would be foolish of us to be offended by the truth. *sm*

Answer 5

unless your wife has cancer and you can't work because she needs round the clock care . soc. sec. dis. pays only 1/3 of our budget . if we have more than 2'000 in the bank she will get a notice of discontinuation of benifits. our monthly exspenses are 3'000$ +or- a few $. so we do most of our bill paying in cash. How do people do it ? we will more than likely have to move out and rent this beautiful house. we'd live in a motor home on the property or something, Renting a smaller place would be too exspensive. Oh yeah we're better off !? We need single payer health care NOW ! we were both fulltime workers shes an LPN, I work cons.

Answer 6

Ummm, every recent war makes the economy boom. Take away the war, take away the booming stock market. Actually, I would hardly call the stock market booming when the American dollar is worth less than it has been in a very long time. Also, you have a high percentage of home ownership, but that began with Clinton when he decided to drive minorities to homeownership in the 90's. Unlike Bill, Bush's success actually has a dark side. We also have a record number of foreclosures dating back from shortly after Bush took office to the future.

As far as me booming, my house was worth less when I sold that it was when I bought. I moved across the country, bought a huge house, and paid less than I could have ever thought for such a house. My stocks aren't doing much, maybe a little better than cash. More people are selling their houses for a loss than any other time in history as well. Easy to own when the monthly payment is lower than rent from a housing bust.

Answer 7

greater Repub propaganda. Clinton, FDR, JFK/LBJ could have stated an identical element. almost each and every president could have boasted that a undeniable stat is at checklist ranges while they have been president. whether, in case you study the p.c. strengthen in step with president, you will see Keynesian Democrats outperform tax cuts for the wealthy Repubs on almost each and every class. The inventory industry became into bigger below Clinton then below Reagan. Are you going to declare Clinton became into greater suitable basically with the aid of fact of that? No. you desire to envision the p.c. strengthen, not absolute fee. Absolute values on such issues as inventory markets, real GDP, tax sales, has a tendency to strengthen in time with the aid of fact of inhabitants strengthen and the upward thrust in industry with the aid of technologies breakthroughs.

Answer 8

The great Bush economy has gotten us a trillion dollar trade deficit, numerous recessions, stagnant working class wages, extreme gas prices, a burst in the housing bubble and the constant devaluing of our dollar. And just who do you think will pay for all these things in the end? It certainly won't be the upper 2% of this countries population who are considered wealthy, no, they will get more tax cuts upon more tax cuts. And it certainly won't be the coporations that are robbing consumers blind at every fork in the road, they will just continue to get more and more tax breaks for leaving the country. It won't be the illegal aliens that are granted amnesty with this craptastical 1.2 trillion dollar bill that is getting passed currently in Washington. And on top of all this, you've got peak oil coming within 10 years, if it hasn't already begun. Your whole life is about to change.

I know that Faux News likes to take facts and question them, but this economy bologna is getting a little out of hand. We are in serious trouble of financial collapse in this country and all some folks can do is spew the propoganda they hear on Faux News about ohw this is the best economy in history.

Look at the number folks. We are in worse shape now statistically then we were before the Great Depression.

But keep apologizing and denying. The more and more we borrow from the Federal Reserve, the more in debt we are going to go.

Answer 9

Kind of a silly question, no I'm sorry, I didn't mean to say it in the way that you are being silly, I'm as anti-Bush as they come, so I guess what I'm saying is, other than than the rich, who isn't doing worse. It's worse than Regan than trickle down economy. This is almost like no economy. We are too busy spending money on a useless war to worry about the citizens and their needs. What happened to trying to find a better health care system?

Answer 10

Some of what Bush has managed to do has been great for me personally. The lower taxes have allowed me to keep more of my own money and to reinvest it in other things.

The poor management of the Iraq war has been a drag on the country. It is a very important thing to do, but badly managed.