Are Bush's tax cuts for WORKING people responsible for this SMOKING hot Economy?

Question

My dad says he has never done better financially. I have 5 brothers and sisters so right there my dad saves $2,500 just on the increase in the child tax credit. Not to mention the elimination of the marriage penatly. Why Clinton was punishing married couples I will never know. My trades a lot of stocks and my dad says Bush's reduction in the capital gains rate is putting me & my brother through college. Thanks Mr. Bush. I will have no loans when I graduate thanks to you!

Dow Record High, On July 6, 2007, The Bureau Of Labor Statistics Released New Jobs Figures – 132,000 Jobs Created In June. Since August 2003, more than 8.2 million jobs have been created, with more than 2 million jobs created over the twelve months ending in June. Our economy has now added jobs for 46 straight months, and the unemployment rate remains VERY VERY low at 4.5 percent.

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Answer 1

Tax cuts work EVERY single time.

Even JFK knew this

Answer 2

so a procedures, the outcomes have been clean. interior the 1st 33 months after Bush signed the 2003 tax bill, the yankee economy larger via 20 p.c. and just about 5.3 million new jobs have been created. Over the 1st a million/2 of this year, our economy grew at a 4.a million p.c. annual fee, speedier than the different important industrialized united states, and tax receipts easily rose $206 billion interior the 1st 9 months of this economic year. even nevertheless I easily have some extreme concerns over what that funds is getting used for, it truly is crystal clean that the Bush tax cuts stored the yankee economy. financial boom over the final 4 years "exceeds the completed length of the chinese language economy." Steve Forbes The tax cuts of 2003 truly enabled the economy to pass from a a million p.c. stagnant, semi-stagnant economy to the completed of existence one we've at present. that is not totally favored, as a results of fact the main media extra or much less forget approximately it. playstation : For those of you who can not see the tax cuts; The cuts have been totally on Capital constructive factors so which you're revealing which you have not any investments nor fee reductions, nor coverage policies, nor 401K etc. You had extra effective get with this methodology and start up up coping with your cash so as which you would be able to funds in on those tax cuts as a results of fact there's a real danger that Hillary will placed Charlie Rangle in value of the tax code and you will on no account truly have an possibility to advance your self like this back. Charlie needs to deliver the wealthy down right here with you, not you up there with them.

Answer 3

The tax cuts are just one piece of the puzzle. The Us government doesn't control the economy. The fed reserve plays a much bigger roll.
I too have five kids and benefit from the increased tax breaks, but the marriage penalty is still there. When I got a divorce, I had the option to file joint or separate. We filed separate to save several thousands of dollars.

I find it interesting that most people think that they have not benefited from the "tax rebate" thinking that they would get a separate check back from the government. They do not even understand that they pay less each year.

Answer 4

This is one of the best economies in history and the unemployment rates are some of the lowest of all times. I am middle class and I am doing better now than ever. My oldest son just finished college and my other son is about to begin. I own my own house and two cars and I am totally debt free.

Some have said the poor have not benefited. You have to pay taxes in order to receive a tax cut.

Answer 5

Yes and after a record-long series of rate hikes I think it's hard for anyone to argue that the tax cuts aren't the reason for the strong economy.

Some argue the deficits but they're smaller than the amount the government spends overseas - indeed on interest to foreign bondholders alone. That's been true since '83. It means the government has no fiscal discipline but it also means that the deficits haven't "fed the beast" Keynesian-style for a long time. That leaves money (Fed) and reinvestment of capital (rather than taxing it away). And the Fed started raising rates in mid-'04....

Cracka the tax cuts are if anything the reason why it's not $10TN in debt - REVENUE IS UP.

Answer 6

You are right on the money. These tax cuts have put more money in people's pockets, which has driven up the spending of their money, which has driven up the markets which has driven up the taxes collected on that spending and record amounts of money is flowing into Washington. Why is there such a deficit? Oh, I don't know.....We were attacked in 2001, we are at war, and congress (both sides of the isle) can't spend fast enough. No matter who would have been in office in 2001, the market would have crashed, the war would have been waged, and the deficit would have been created. To blame this on Bush is simple minded.

Answer 7

Yes and many other factors of people who are willing to take a risk and with GWB it is a safer bet so it rolls down the line.

Answer 8

wow, congrats, sounds like your upper middle class family is being served just fine by the capital gains tax cuts/credits and other tax cuts given by Bush to corporations and the wealthy. It sounds like you and your family are, after all, the very kind of people Bush wants to help.

But what about the other 100 million Americans that are at or below the poverty level? They haven't benefited, in fact, in many cases these lower class families have been harmed by the economic favoritism reflected in these tax cuts.

Answer 9

You said it. Bush doesn't deserve 100% credit - the folks that work their asses off everyday do. However the tax cuts certainly helped inject billions for capital investment - this can't be disputed.

Answer 10

Yeah, that four hundred bucks from 01' sure goes a looooong way. I'm happy for you and your family. Not so happy for the rest of the Americans who now have record debt, have foreclosed on their homes, are losing their jobs and have no savings in this booming economy. As they say in the stock market, a rising tide doesn't float all boats.

Answer 11

The tax cuts didn't help everbody, in fact to hard working Americans it was a slap in the face. I was single living in a small one bedrooom apartment going to school and working. The check I got was for $384.00, not even enough to pay my rent, and now I get to look forward to taxes going up so we can pay our way out of this record deficit. Thanks again GW for screwing me and all the hard working people that make this country run and giving the fat cats who don't need anymore money a big *** tax break.