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Sen. Schumer: Economic Growth from Less Taxes is ‘A Rumpelstiltskin Fairy Tale’
cnsnews.com ^

Posted on 11/09/2012 11:19:58 AM PST by tsowellfan

Sen. Chuck Schumer (D-N.Y.) says the premise that cutting taxes will result in greater economic growth is “a Rumpelstiltskin fairy tale”.

At the Nov. 8th Christian Science Monitor Breakfast in Washington, Schumer praised House Speaker John Boehner (R-Ohio) on the tone of his recent remarks about working with the president on debt reduction...

(Excerpt) Read more at cnsnews.com ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections; US: District of Columbia; US: New York
KEYWORDS: democrats; taxes
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1 posted on 11/09/2012 11:20:08 AM PST by tsowellfan
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To: tsowellfan

Spoken like a true Totalitarian Statist. Chuckie, the jobs are already fading and you want to double down on ideology?

http://confoundedinterest.wordpress.com/2012/11/08/vampires-werewolves-and-the-post-election-market-reaction/


2 posted on 11/09/2012 11:21:53 AM PST by whitedog57
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To: tsowellfan

Chuckie, YOU OWN the soon to be revealed results of 0conomics.


3 posted on 11/09/2012 11:22:34 AM PST by Paladin2 (.)
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To: tsowellfan

Schumer may have slept through the 1980s, but the rest of us didn’t.


4 posted on 11/09/2012 11:22:51 AM PST by Colonel_Flagg ("Don't be afraid to see what you see." -- Ronald Reagan)
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To: tsowellfan

I was wondering what happened to UpChuck.

Hasn’t changed a bit...


5 posted on 11/09/2012 11:24:28 AM PST by MichaelCorleone ('We the People' can and will take this country back...starting today.)
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To: tsowellfan

amazing.. everytime they want to control our behavior they “tax” it....cigarettes, carbon, gas, etc....it sure doesn’t FEEL like a fairytale....


6 posted on 11/09/2012 11:24:59 AM PST by eeevil conservative (GIVE ME A PLACE TO STAND AND I WILL MOVE THE EARTH....Archimedes)
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To: tsowellfan

Evidently Schumer didn’t ready my post, Lower Taxes Yield Higher Revenues. Posted here today.


7 posted on 11/09/2012 11:26:38 AM PST by Trapped Behind Enemy Lines
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To: Paladin2
Chuckie, YOU OWN the soon to be revealed results of 0conomics.

That's very true! But I'll bet they'll spend every minute of every day between now and election 2014 blaming the GOP Controlled House for anything bad that happens in the USA.

Question is, how well will the GOP House fight back those false accusations.


8 posted on 11/09/2012 11:28:13 AM PST by tsowellfan (Allen West for Speaker!)
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To: Trapped Behind Enemy Lines

“Lower Taxes Yield Higher Revenues” = works everytime it’s tried.


9 posted on 11/09/2012 11:30:42 AM PST by tsowellfan (Allen West for Speaker!)
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To: tsowellfan

Yep... Tax and spend has done wonders for Greece, California, etc. (rolling eyes)


10 posted on 11/09/2012 11:33:43 AM PST by BookmanTheJanitor
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To: tsowellfan
I am stunned how many people/pundits in the middle to the right, believe Obama and the Rats want to work out a deal and avoid sequester. I guess they were not happy enough being wrong about the election.

They way I see it, Obama set himself up perfectly to get everything he wants without doing anything

1.) Obama Care starts unabated in January. Besides a few states that will not set up exchanges and not funds for federal exchanges, Obama has to do nothing to implement healthcare.

2.) He also needs to due nothing to raise taxes on the rich. Taxes on the rich go up next year- nothing can stop that. If he can't reach a deal he wants, he gets the added benefit of raising taxes on the middle class and blaming the GOP.

3.) Defense spending gets cut and America is weaker. Just what he wants.

All of this above he campaigned on. Why would he go back on his word.

11 posted on 11/09/2012 11:39:06 AM PST by 11th Commandment (http://www.thirty-thousand.org/)
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To: tsowellfan

Let’s call this dummies Bluff and demand our Republicrat Critters in congress vote nothing but Present for all future Dim proposals....

Let them have enough rope to hang themselves...


12 posted on 11/09/2012 11:42:08 AM PST by GraceG
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To: 11th Commandment
I am stunned how many people/pundits in the middle to the right, believe Obama and the Rats want to work out a deal and avoid sequester. I guess they were not happy enough being wrong about the election.

Exactly. It amazes me how few poeple realize that Obama wants the economy to tank. Period.

That and so much more.

13 posted on 11/09/2012 11:42:49 AM PST by Bloody Sam Roberts ("The heart of the wise inclines to the right, but the heart of the fool to the left." Ecclesiastes 1)
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To: tsowellfan
So give the greasy motherf*&%^r all the new taxes he wants. And wait for the explosion of new economic growth.

I'm so sick of these lying bottom feeders. No more arguing with them - I want them to get everything they want.

I'm convinced they'll shrivel up and die once they have no one left to blame for the miserable results of their own socialist policies.

14 posted on 11/09/2012 11:43:52 AM PST by skeeter
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To: tsowellfan

Upchuck Schumer’s alleged intelligence is the real Rumpelstiltskin fairy tale.


15 posted on 11/09/2012 11:44:26 AM PST by WashingtonSource
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To: tsowellfan

Tell that to Reagen dic##wad you arent even fit to clean his dirty toilet. The utter disgust I have for these people is immeasuable


16 posted on 11/09/2012 11:49:28 AM PST by ronnie raygun (bb)
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To: tsowellfan

Well Chuckie, you commie bastard, you’re about ready to find out what higher taces do to economic growth.


17 posted on 11/09/2012 11:50:12 AM PST by henkster (If you let them do it to you, you got yourself to blame.)
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To: Bloody Sam Roberts

Most that I know can’t accept the idea that 0bama has mal-intent.

That’s because his supporters wrap their own self righteousness in the righteousness of the Statists that they support.

If the pols are bad guys, then the sheeperals are bad guys, too.
And they can’t accept that.


18 posted on 11/09/2012 11:52:19 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: GraceG
Let’s call this dummies Bluff and demand our Republicrat Critters in congress vote nothing but Present for all future Dim proposals....

I'm all in on that one. Never happen though.... :(

19 posted on 11/09/2012 11:52:26 AM PST by mc5cents
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To: henkster
Well Chuckie, you commie bastard, you’re about ready to find out what higher taces do to economic growth.

upChuck already knows what is going to happen and he does not care. He has his and you can go f yourself. Simple as that. The disgust I have for these kinds of people is not fit for description on this forum.

20 posted on 11/09/2012 11:57:13 AM PST by mc5cents
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To: henkster
Well Chuckie, you commie bastard, you’re about ready to find out what higher taces do to economic growth.

You are right! I fear, however, the democrats will walk all over our weak Speaker (Boehner) and he will fail to articulate to the American people why the collapse really happened (when it does).

Speaker West, Speaker Pain or a Speaker Cain would make sure the truth gets out there and WITHOUT the tears.

Even if John Boehner gave everything Obama and Harry Ried wants from now until 2014, Harry Ried and Obama are still going to blame the GOP controlled House for every bad thing that happens. It's politics and they want to win the House in 2014.

21 posted on 11/09/2012 11:57:51 AM PST by tsowellfan (Allen West for Speaker!)
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To: mc5cents
upChuck already knows what is going to happen and he does not care

They're setting it all up to win the House. As you said, he knows what is going to happen. 2012 was THANK GOD FOR HURRICANE SANDY! and 2014 will be THANK GOD FOR THE ECONOMIC COLLAPSE (the Republican Controlled House created)

22 posted on 11/09/2012 12:00:09 PM PST by tsowellfan (Allen West for Speaker!)
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To: tsowellfan
Obama doesn't want more revenues to fix the deficit. He wants higher taxes to punish the successful. It isn't any more complicated than that.
23 posted on 11/09/2012 12:01:30 PM PST by Myrddin
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To: tsowellfan

Hey Chuck!

In which year were the Federal Income Tax receipts the highest ever?

2007, under the Bush Tax Cuts.


24 posted on 11/09/2012 12:03:41 PM PST by G Larry (Which of Obama's policies do you think I'd support if he were white?)
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To: tsowellfan

What next, will he start slapping flight attendants instead of merely cursing at them? The Amtrak “supporter” who flies out of LGA instead.


25 posted on 11/09/2012 12:04:28 PM PST by Olog-hai
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To: tsowellfan

No, Chuckie...the Dim's economic plan is "A Robin Hood" fairytale.


26 posted on 11/09/2012 12:04:28 PM PST by Jane Long (Soli Deo Gloria!)
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To: Myrddin
Obama doesn't want more revenues to fix the deficit. He wants higher taxes to punish the successful. It isn't any more complicated than that.

Yup. Dinesh D'Souza spelled it all out in his two books and 2016. Obama will sail off into the sunset knowing he has accomplished his mission of taking America down. That is what he was SENT to do. Sent. Read into that what you will. I believe it.

27 posted on 11/09/2012 12:06:36 PM PST by mc5cents
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To: mc5cents
"Sent. Read into that what you will. I believe it. "

Can we kill the CIA in time? Nope.

28 posted on 11/09/2012 12:08:16 PM PST by Paladin2 (.)
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To: Paladin2
Can we kill the CIA in time? Nope.

?

29 posted on 11/09/2012 12:10:14 PM PST by mc5cents
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To: tsowellfan

I don’t care Schumer - do the looting and get it over with...


30 posted on 11/09/2012 12:13:04 PM PST by GOPJ (New York Times Slogan : "We rewrite Democrat Press Releases Better!")
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To: tsowellfan

Yup! Fairy tale indeed: It worked for JFK in Camelot. Schmucks!


31 posted on 11/09/2012 12:16:37 PM PST by SERKIT ("Blazing Saddles" explains it all.......)
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To: tsowellfan

A Modest Proposal:

Senator Schumer, if raising tax rates helps the economy, why don’t you raise them to the level you really want. It won’t hurt growth at all, and trillions will pour into the federal coffers.

As long as you are at it, why don’t you also confiscate the accumulated wealth of every American? Take, let’s say, 90% of all wealth from whomever you deem appropriate in your great wisdom. You can create 1000’s and 1000’s of new jobs by hiring federal wealth inspectors to investigate mattresses, stashes hidden under floorboards, coffee cans buried in the back yard, etc. Make sure you also get all the offshore funds of everyone, being sure to include yourself and all other government officeholders. If it is to be truly fair, it must include everyone. There is no other way to achieve moral authority in these matters.

Just to make sure you get full compliance, make the penalty for cheating death. You can execute a prominent Republican or two just to make the point, even a Democrat if you have to. Hopefully, this throw enough fear into the rest to reconcile themselves to the new fairness and equality that will reign for sea to shining sea in this country.

After this, criminalize all cash or in-kind transactions. Force every transaction to go through recordable means and put those means under federal control. Audit them regularly. Then nationalize all banking institutions without exception, and appoint federal overseers who will impose an immediate recording system of wage, income, investment deposits that will instantly and automatically deduct federal taxes. Finally, make the penalty for cheating death.

This will fix all problems. Everything will be truly fair and equitable. Really.

Do this, and you will go down in history as the most fair man in the world, ever. Your name will be remembered forever.


32 posted on 11/09/2012 12:27:09 PM PST by Belteshazzar (We are not justified by our works but by faith - De Jacob et vita beata 2 +Ambrose of Milan)
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To: tsowellfan

Chuckles Schumer is as brain damaged as they come.
He honestly believes it is possible to spend ten dollars when you only have three in your pocket.


33 posted on 11/09/2012 12:28:30 PM PST by Darksheare (Try my coffee, first one's free.....)
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To: tsowellfan

Look how well ultra-high taxes are working out for New York State.

Schmucky and the other politicians are swimming in dough while the unemployment rate is at 8.9%.


34 posted on 11/09/2012 12:31:23 PM PST by Iron Munro ("Strange how paranoia can link up with reality now and then." -- Philip K. Dick)
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To: tsowellfan

Schumer also seems to be forgetting the prsoperity of the 80’s...

..kinda like the Globull Warming true believers discounting and denying the Medieval Warm Period.


35 posted on 11/09/2012 12:38:51 PM PST by Darksheare (Try my coffee, first one's free.....)
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To: tsowellfan

So is thinking you can spend craploads of money you’re not taking in in taxes (and realistically can’t even raise taxes high enough to recoup anyway) and still have the deficit go down. Pass that on to Rachel Maddow, by the way, will you? There’s a good boy.


36 posted on 11/09/2012 12:39:49 PM PST by RichInOC (Palin 2016: The Perfect Storm.)
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To: tsowellfan

Sure Chuckie, the way to fix it is 100% tax, and a government job for everyone.

Collectivization!
That’s the direction we are heading.

Think the USSR, DDR, North Korea, Cuba...


37 posted on 11/09/2012 12:43:05 PM PST by Bon mots (Abu Ghraib: 47 Times on the front page of the NY Times | Benghazi: 2 Times)
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To: tsowellfan

And stores never increase revenues by lowering prices and having a sale.


38 posted on 11/09/2012 12:50:24 PM PST by NCLaw441
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To: tsowellfan
Sen. Chuck Schumer (D-N.Y.) says the premise that cutting taxes will result in greater economic growth is “a Rumpelstiltskin fairy tale”.

Says you, dearie!

39 posted on 11/09/2012 12:54:12 PM PST by Dahoser (Separation of church and state? No, we need separation of media and state.)
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To: tsowellfan

When Cuch the Schmuck praises Boehner you know he has Boehners balls in his pocket.


40 posted on 11/09/2012 12:59:13 PM PST by Venturer
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To: Paladin2
Petraeus resigned today. Holder is making plans to go. Hillary as well. The rats are leaving the sinking ship.
41 posted on 11/09/2012 1:06:49 PM PST by Myrddin
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To: tsowellfan

Schmucky... we have HISTORY TO PROVE YOU ARE LYING BUT ALL YOU HAVE IS A FOUL LYING MOUTH ATTACHED TO satan’s LAPTOP!

LLS


42 posted on 11/09/2012 1:57:32 PM PST by LibLieSlayer (I AM JOHN GALT)
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To: tsowellfan

Obama is the king, and Bernake is Rumpelstiltskin, spinning straw into gold to finance the king, when the miller’s daughter ( representing the people )cannot produce it. The promise of the first born represents the debt burden passed to the next generation. Rumpelstiltskin’s secret song and dance represents the mysterious machinations of the Fed.

For the happy ending to come true, the people would have to learn how the Fed works and break its hold by returning to the gold standard.


43 posted on 11/09/2012 6:20:19 PM PST by dr_lew
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To: G Larry; Colonel_Flagg; Trapped Behind Enemy Lines; tsowellfan
G Larry wrote:

In which year were the Federal Income Tax receipts the highest ever?

2007, under the Bush Tax Cuts.

Of course, you need to correct for inflation and population growth or, better yet, look at revenues as a percentage of GDP. The following graph shows individual income tax revenue as a percentage of GDP (the red line).

Receipts and Selected Tax Rates: 1940-2015

As you can see, revenues dropped steeply after the Bush tax cuts and only recovered about half of that loss by 2007. You can find the numbers and sources at this link and an analysis of the effect of tax cuts on revenue at this link.

44 posted on 11/10/2012 1:26:07 AM PST by remember
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To: remember

What I see is there is no axis for $$$DOLLARS$$$$!!!!!!!!!

Federal Income Tax receipts measured in DOLLARS were highest in 2007!


45 posted on 11/10/2012 7:11:47 AM PST by G Larry (Which of Obama's policies do you think I'd support if he were white?)
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To: tsowellfan

Bookmark for later comment.


46 posted on 11/10/2012 8:09:18 AM PST by socialism_stinX (Boycott all shows on ABC, CBS, CNN, NBC, and MSNBC, and report your boycott in your Nielsen survey.)
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To: G Larry

And the deficit was “only” $132 Billion. Pitifully small by the standards begun the following year under the Pelosi/Reid cartel.


47 posted on 11/10/2012 8:45:13 AM PST by csmusaret (I will give Obama credit for one thing- he is living proof that familiarity breeds contempt.)
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To: G Larry
G Larry wrote:

What I see is there is no axis for $$$DOLLARS$$$$!!!!!!!!!

And what I see is that you apparently have no clue that revenues always go up due to inflation and population growth. To quote my short analysis at this link:

At 99.6 percent, revenues did nearly double during the 80s. However, they had likewise doubled during EVERY SINGLE DECADE SINCE THE GREAT DEPRESSION! They went up 502.4% during the 40's, 134.5% during the 50's, 108.5% during the 60's, and 168.2% during the 70's. At 96.2 percent, they nearly doubled in the 90s as well. Hence, claiming that the Reagan tax cuts caused the doubling of revenues is like a rooster claiming credit for the dawn.

Federal Income Tax receipts measured in DOLLARS were highest in 2007!

Yes, and they will reach a new high due to inflation and population growth, regardless of our tax policy. If we had had this discussion in 2005, the highest receipts would still have been in 2000, before the Bush tax cuts (see the data at this link). Would you have then admitted to the total failure of the Bush tax cuts to raise revenue?

48 posted on 11/10/2012 1:40:35 PM PST by remember
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To: remember

“and they will reach a new high due to inflation and population growth”

It’s 2012, how your inflation theory doing since 2007?

Have the Fed’s had higher receipts yet?


49 posted on 11/10/2012 8:08:54 PM PST by G Larry (Which of Obama's policies do you think I'd support if he were white?)
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To: G Larry
G Larry wrote:

It’s 2012, how your inflation theory doing since 2007?

Individual income tax revenues are estimated to surpass 2007 this year. In any case, you have a very interesting theory. In an earlier post, you proudly proclaimed:

In which year were the Federal Income Tax receipts the highest ever?

2007, under the Bush Tax Cuts.

So you seem to be saying that the record revenues in 2007 were due to the Bush Tax Cuts. What happened in 2008, did the magical effect of the tax cuts expire? No, we had a financial crisis led by the crash of the housing bubble. The record revenues in 2007 were very likely pumped up by this bubble, along with inflation and population growth.

If you think that tax cuts do increase revenue, accept my challenge. Tell me any specific numbers or conclusions in my analysis of the effect of tax cuts on revenues that you disagree with. Alternately, post a link to one serious economic study that purports to show evidence of any income tax cut that has ever paid for itself.

50 posted on 11/11/2012 2:58:48 PM PST by remember
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