Posted on 10/12/2009 3:04:26 AM PDT by Son House
I did some research this week end, and this is my humble presentation. I don't think all them folks in Detroit deserve the poverty Democrats have dished up.
My Thesis comes from an argument over some uninformed retiree whose blamed Bush for this economic nightmare: Arguing over ‘Bush #2’,
I countered,
“Without the Bush tax cuts, the current poverty levels would have been higher”.
Now I'm going to back that up with real evidence, Mr President.
January 29, 2007 Ten Myths About the Bush Tax Cuts
http://www.heritage.org/research/taxes/bg2001.cfm
Despite surging economic growth and 5 million new jobs since 2003, critics also charge that the tax cuts have not helped the economy.Setting optimal tax policy requires governing with facts rather than popular mythology, which is why it is important to set the record straight by debunking 10 myths about the Bush tax cuts.
Myth #6: Raising tax rates is the best way to raise revenue.
Fact: Tax revenues correlate with economic growth, not tax rates.
Job Creation Falters Under Bush/Clinton Tax Increases
http://www.house.gov/jec/growth/taxpol/taxpol.htm
The effects of higher taxes and increased government regulation have been painfully felt by working Americans, particularly those who have not been able to find jobs.Just one year after emerging from the recession, employment grew 3.5 percent under Reagan. [4] At the same point in the current recovery, employment actually fell 0.2 percent. Under the Bush/Clinton recovery, 7.5 million jobs have been created in the past four years (Figure 2).
While this may seem substantial, it pales in comparison to the 11.5 million jobs created in the first four years of the Reagan recovery.
Job Creation Falters Even More After Obama/Democrat Stimulus bill
The Jobless Recovery[Businessman Steve Wynn: Priorities Should Have Been Focused On Job Creation]
http://www.freerepublic.com/focus/news/2360183/posts
Wynn “The truth is the biggest enemy, the biggest obstacle, that working middle class America has is government spending.”
^
Because somebody is going to have to produce something, i.e. work, to meet the irresponsible Obama/Democrat budget.
Tax Policy, Economic Growth and American Family[Reagan Revenue Out-Paced Bush/Clinton 5 Graphs]
http://www.freerepublic.com/focus/f-news/2359687/posts
http://www.house.gov/jec/growth/taxpol/taxpol.htm
Americans have been presented with two radically different visions of the role of government. The first vision, articulated and implemented by President Reagan in the 1980s, declares that government taxation and burdensome regulations are harmful to the natural market forces that generate economic growth. Since economic growth is the only way to truly create jobs and raise incomes, policies that reduce taxes and government intervention are the keys to higher living standards for all Americans.President Clinton espouses the second vision, which maintains that the expansion of government does not have harmful effects on the economy and, in fact, may actually be a source of economic growth. Proponents of this vision believe that it is largely through government policies that people can be made better off. According to this vision, tax increases, such as those enacted in 1990 by President Bush and in 1993 by President Clinton, are valid and effective means by which to achieve such policies. When tax increases are not politically feasible, continued deficit spending is the next-best alternative.
Freeper observation from that post:
taxes coming in under Reagan UP 32%Under Obama DOWN 40%
FlashBack:Walz D-Mn Supports Stimulus Bill[Walz Votes To Create Millions Of Jobs]
http://www.freerepublic.com/focus/f-news/2359415/posts
President Barack Obama had sought an $800 billion stimulus bill, saying that was how much was needed to provide the needed stimulus to the economy, according to his consultations with economic experts.Asked if the $790 billion package was big enough, Walz said he hoped it was.
"There is real need out there, and we want to get this right. I'm a little uneasy about that. We don't want to pull a car only half way out of the ditch."
Asked about the bill's trimming away $35 million in state stabilization funds, leaving $54 billion, at a time when Minnesota is anticipating a budget deficit of $6 billion to $7 billion, Walz said that was one of his biggest disappointments.
"As far as job creation and stabilization goes, that was one of the most important parts of the bill," said Walz.
Walz votes for stimulus bill We received this statement from Walz’s congressional office
http://www.bluestemprairie.com/a_bluestem_prairie/2009/01/walz-votes-for-stimulus-bill.html
This legislation will create and save 3 to 4 million jobs, rebuilding America, making us more globally competitive and energy independent, and transforming our economy for long-term growth; give 95% of American workers an immediate tax cut; and invest quickly in the economy – with 75% spent in the first 18 months. For example, the plan provides $45 million to Minnesota in Byrne grant funding, which would keep police officers on the beat all across the state. It will also provide about $685 million to the Minnesota Department of Transportation for “shovel-ready” construction projects that can be up and running quickly.“This recovery plan puts Americans back to work fixing our roads, bridges, and schools,” said Walz. “At the same time it calls into action our entrepreneurs, engineers, mechanics, electricians, and other laborers to transition our country to energy independence and bring the power and opportunity of high-speed internet to all corners of rural America. What’s exciting is that southern Minnesotans can benefit greatly from this strategy. Experts say more than 90 percent of the jobs created will be in the private sector.” added Walz.
Flashback: Minnesota Republicans Blast Stimulus Bill["This is Fantasy Economics" Bachmann]
http://www.freerepublic.com/focus/f-news/2359407/posts
Rep. John Kline agrees. Like Bachmann, the 2nd District Republican said more could have been accomplished for a lot less money by targeting more tax cuts to small businesses and individuals."What we have is a stimulus bill which really doesn't provide the stimulus we need but provides an enormous amount of spending and government growth and debt which, frankly, you and I are not going to pay off," Kline said. "It's going to be our kids and grandkids."
The newest member of the Minnesota delegation, 3rd District Rep. Erik Paulsen, said he's not worried that voting against the plan will cost him support back in Minnesota.
"I am hearing overwhelmingly from my constituents that this is not the right plan." - Rep. Erik Paulsen, R-Minn.
Like Bachmann and Kline, Paulsen said the plan costs too much.
"I really do believe it is critical for Congress to pass a stimulus package," he said. "Unfortunately this plan has become much more of a spending plan rather than a stimulus plan."
Thousands Line Up For Stimulus Money [Detroit: Video]
http://www.freerepublic.com/focus/f-news/2356478/posts
Stimulus Money Available For Low-Income, Homeless Detroit ResidentsVideo at link
“I want you to argue with them and get in their face”
I'm in Your Face, I'm Arguing, and I'm Right!
1. Democrats were in control of Congress during much of Bush Administration.
2. Federal Reserve, the cause of much of this, is NOT under Federal government control.
So, stop blaming Bush. Blame the FED and the Democrats.
Yep, in fact, Democrats were accomplishes to the Failed Bail-out bill and the prior Stimulus bill that gave credence to the Obama Stimulus. Bush would never get another tax cut through a Democrat Congress
http://fns.blogs.foxnews.com/2009/10/11/the-jobless-recovery/
Businessman Steve Wynn, Chairman and CEO of Wynn Resorts, agreed the most powerful tool the government has is its tax policy.
“The priorities of the administration should have been more directly focused on job creation from the day of the inauguration forward. That’s the thing that changes America,”
“If the government had used its power to restrain its tax collection, they would have given everybody who runs small businesses, large businesses, a chance to hire more people”
We are spending now with the Bamster 22-23% of GDP if my memory is correct but he will take it to 30%.
Steve Forbes was spot on with 17% Flat Tax, give them just a little less than they need. This is where the Fair Taxers are drinking the Kool Aid, their plan is too complicated and will bring back "My Cousin Vinnie" selling Leather Jackets out of the trunk of his Electra 225. Yes I got to see it, it was real, and it will come back with the Fair Tax.
What they need to do is reduce spending and the depletion of the Entitlement Surpluses which would be on top of the marginal reduction in spending from 22% to 17% which is about a 23% cut total. The overall cuts at that point will be draconian, but it may be the only way to save the dollar. Their is no will in Washington to do it, but IMHO it is what the Tea Parties are all about. In our guts we know we are broke and they are not doing the common sensical things that need to be done to fix it.
give them just a little less than they need.
Yes, though I’d go lower so everyone gets a tax break, 9% Flat tax rate
And it may stop another practice: sending American-owned liquid assets out of the US financial system to keep them out of the hands of the IRS. Right now, we have around US$2 TRILLION participating in the cash-only underground economy and around US$13 TRILLION (the last best estimate by economists) funneled via tax loopholes to offshore financial centers located around the world; can you imagine what would happen to our economy if we can bring back that US$15 TRILLION in liquid assets to the US financial system, essentially the world's largest "private bailout"?
Finally, ending the income tax would save Americans at minimum US$500 billion per year in compliance costs. That's US$500 per year that could be put to better use elsewhere in our economy.
‘President Obama doesn’t care that tax cuts bring more revenue into the treasury, he has said he wants to raise taxes out of “fairness.”’
Correct you are. I remember when he said it. This was all anyone needed to know to decide 0bama was unfit to be President or hold any elected office. Why more was not made of this at the time is beyond me.
Nonsense. McCain's loss wasn't doctrinal--in fact, he had pulled even or ahead of Obama by last September. He lost becuase the bottom fell out of the economy, which the voters associated with Republicans. Combine that with his failure to show up at the debates, and you've got a recipe for a loss.
Certain Democrats forced lenders to loan large quantities of money to people who couldn’t pay it back, thus creating the real estate bust and starting the present recession or depression.
To cover their tracks, the Democrats blamed Bush.
Well done.
Last year, Michigan enacted a set of tax credits aimed at making Michigan the most affordable state for the film-making industry. It is paying wild dividends. Many films are now being shot here, and film-makers are even opening up two new studios.
This year, there's been debate that the state "can't afford" to finance these credits. Some legislators want to repeal the credits.
The fun thing about the debate is that our ultra-liberal local sports-writer-turned-radio-host, Mitch Albom has been at the center of the debate, arguing that the lower taxes have helped to create a business-friendly job-friendly environment.
However, nobody (Mitch, included) has asked the obvious follow-up question: If lower taxes are so good for the film-making industry, why wouldn't they be good for ALL OTHER BUSINESSES, too?!?!
Alright if you get rid of the IRS then who is going to collect the new sales tax? Who is going to enforce the rebates and make sure their is no fraud? Who is going to make sure Businesses send all of the tax that they are supposed to?
If their is a tax their must be a tax collector my friend!
their should be there.
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