First they said it wasn't happening, then they said it was temporary, now they admit it but deny the cause?

Question

NO I'm NOT talking about global warming caused by man.

I'm talking about a strong economy, rising incomes and rising tax revenue caused by reductions in the tax rates!

"for the rich, maybe..."

Bull5hit

http://www.freerepublic.com/focus/f-news/1229294/posts
http://www.nytimes.com/specials/downsize/21cox.html
http://www.bls.gov/opub/mlr/1988/05/art1full.pdf
http://www.frbsf.org/econrsrch/wklyltr/el97-07.html#winners
http://www.dallasfed.org/fed/annual/1999p/ar95.html
http://money.cnn.com/2005/05/25/pf/record_millionaires/index.htm?cnn=yes
http://money.cnn.com/2005/09/28/news/economy/millionaire_survey/index.htm?cnn=yes
http://money.cnn.com/2006/03/28/news/economy/millionaires/?cnn=yes
http://www.heritage.org/Research/Labor/bg1773.cfm

Answer 1

Don't forget the shrinking deficit!

The "tax the rich" crowd doesn't seem to understand that taxation policy changes behavior. Anyone who left one job to take a higher-paying one should understand that when hard work, innovation, risk-taking, etc. are rewarded, we get more of that behavior in society. The pie gets BIGGER; it's not just that the rich keep more of their money. Unless it's literally being hidden under a mattress, that cash is in the economy, doing something to stimulate it.

Answer 2

To all the sadly misinformed people out there, tax cuts do not directly help poor and lower middle class people BECAUSE THEY DON'T PAY ANY TAXES! Tax cuts will directly help tax payers. There is not shrinking of the middle class, there is no increase in the number of people below the poverty line.

There is basically full employment in the US even with an estimate 24 million illegal aliens working. The economy is doing great, even with high gas prices. It is remarkable how some people see this as a negative.

Here is a little secret from an guy who has been around a long time. If the economy is doing even pretty well under a democratic administration, it will be lauded and praised on newspaper headlines and by news anchors on TV. If the economy is really bad under a democratic administration very little will be said.

Conversely, if the economy is doing poorly under a republican administration the doom and gloom headlines will be splashed all over the place. If the economy is doing fantastically well under a republican administration, you will hear almost nothing about the economy.

.

Answer 3

It's a wonderful world if you avoid the facts or cherry pick the data. True, the 'macro-economy' is doing well...if you're a major corporations, or in the upper 25% of earners. But for most wage-earning Americans it's not such a rosy situation. Let's take Imperial Rome....true, the 'economy' for the wealthy was much like ours today....but for free romans of the 'lower class' and for slaves it wasn't so hot. On the 'average', everyone was doing fine, but in real life only a few had great wealth or even moderate wealth. The fact is that the US is living on borrowed money, tax revenues are 'rising' mainly because we have more people but the national debt and personal debt is way out of hand already. We may be able to go along with this for another decade..who knows, but to deny that the 'economy' is stable is a lot of BS...it ain't!

Answer 4

I'm confident many people here could learn from you about the economy and finances, seriously. But I feel like your question here is in response to my qusetion earlier. So...

The economy in Northern Virginia has boomed in recent years. A very large percentage (I have no figures, but it would be a interesting study) of new jobs in the area all fall under what I referred to as the "War Economy." These people work for the government, the military, and their many contractors.

I'm all for tax cuts, great. But I was specifically talking about a community and immigration. If the economy is so strong why the talk of inflation and a weak dollar? What about the housing market? I don't deny tax cuts are good, my point is the war has provided a boom for industries related to war and parts of the country where war is profitable like Virginia, maybe Colorado.

Answer 5

Soooo funny. That question could be applied to so many political things throughout history. Even if it's not true in this case, it is still standard operating procedure for a lot of organisations political or otherwise.

Answer 6

how's the housing market these days ? Foreclosures up ? Property values down ?

Talk to five random people in FL, i'm sure they would love to hear about how great the economy is....

How is it that we have rising incomes and at the same time personal wealth is shrinking and personal debt is rising ?

Oh let me guess... Inflation doesn't exist either right ? lol...

Insert head here > {sand}

Answer 7

Any economist worth his salt knows that this doesn't work. Yes, it is working now, but it's a giant balloon that will burst. That is how this works, brief prosperity followed by either runaway inflation or a recession. Only a rise in taxes will fix it, and Bush won't do that, he'll leave it for some future president.

Answer 8

All I know is that I am middle class and loving the economy. Bush has done a great job, and I really appreciate the tax cuts, it helps.
http://www.dryflypolitics.com

Answer 9

It's temporary...Reagan did the same thing, which is why Bush Sr had to break his promise of "No New Taxes" to get us out of debt...Clinton had a balanced budget...Bush has sank us into a giant hole again....now someone will have to fix it, and you guys will have something to complain about.

Answer 10

You are SOooooo right! And, if a Dem is elected the momentum will be lost. The economy is in splendid shape so they have a lot they can mess up.