years than anytime in the last fifty. Even with the post 9/11 spending. How is this possible with the tax cuts provided by the President?
2007-10-09 04:11:30 · 9 answers · asked by hardwoodrods 6 in Politics & Government ➔ Politics
Because when taxes are decreased revenue and receipts to the government are always increased. Happened under Kennedy and Reagan. Thats what Dems don't understand. By stimulating growth and lowering taxes, the economy flourishes and the reduction in income taxes is more than made up for in consumer spending and other receipts.
2007-10-09 04:19:09 · answer #1 · answered by booman17 7 · 0⤊ 3⤋
They still have war spending off the books. And the Social Security Trust is being used to pay for current expenses. It's still all smoke and mirrors, excluding the billions in repatriated dollars from multinationals from the tax holiday they received.
The tax cut DID NOT produce an increase in tax revenues. President Clinton left the U.S. government with a $300 billion annual surplus. Lower interest rates and fiscal spending stimulated the economy the good-ol' Keynesian way during the Bush years to save our economy from depression following the high-tech stock bubble. For that mythical supply-side statement to be true, there would have to be greater than a $300 billion annual surplus currently, but there isn't (remember that spending has increased so the tax cuts were NOT offset).
Oh, and according the the supply-side church bulletin (The Wall Street Journal) "...individual income tax receipts have soared by 46.3% in four years, with payments by the wealthy accounting for most of the windfall."
So, much for trickle-down economics!
Who wants to buy some falling dollars (I'll accept Euros, Canadian dollars or Australian dollars)?
2007-10-09 11:16:41 · answer #2 · answered by ideogenetic 7 · 2⤊ 1⤋
I don't know where you got your information, but the current deficit is three times higher than it was just four years ago and the Bush Administration has created a larger deficit than all of the previous forty-two administrations put together. This is no small feat, considering the last president to do the same thing was Ronald Reagan.
2007-10-09 11:19:44 · answer #3 · answered by fangtaiyang 7 · 4⤊ 0⤋
YOU MEAN AFTER IT CLIMBED TO
10 TRILLION DOLLARS
IT SLOWED DOWN SOME?
FACE IT
GEORGE W BUSH HAS SADDLED THE NATION WITH THE BIGGEST DEFICIT EVER !!!
Your childrens grandchildren will still be paying off this record breaking deficit that you are trying to put a positive spin on.
Lets see
1 trillion for Iraq (should have never went there)
+ 1 trillion for homeland security
(borders still wide open inbound frieght not checked)
________________________________________
totals 10 trillion (republican math)
Where did the other 8 trillion dollars go ??????
Where did the other 8 trillion dollars go ??????
Where did the other 8 trillion dollars go ??????
Where did the other 8 trillion dollars go ??????
2007-10-09 11:22:19 · answer #4 · answered by Anonymous · 3⤊ 0⤋
Deficit declined? Seriously?
2007-10-09 11:14:14 · answer #5 · answered by Anonymous · 0⤊ 2⤋
Your premis is wrong. The US Federal Deficit has been increasing in the period you mention.
2007-10-09 11:21:40 · answer #6 · answered by khorat k 6 · 2⤊ 0⤋
Notice you post this without any link to a credible source to back up your claim.
2007-10-09 11:19:46 · answer #7 · answered by chickenhawkbushbots 2 · 4⤊ 1⤋
The tax cut actually produced an increase in revenues, no surprise there..........
2007-10-09 11:17:03 · answer #8 · answered by Brian 7 · 0⤊ 4⤋
Shshshshsh!!! Dems don't want people to know that! It would ruin their lies!
2007-10-09 11:14:55 · answer #9 · answered by Anonymous · 1⤊ 2⤋