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Democrats want to roll back the recent tax cuts, but some economists say, 'Hold on there!'
CNN/Money ^ | September 23, 2003 | By Mark Gongloff

Posted on 09/23/2003 9:09:15 AM PDT by .cnI redruM

Edited on 04/29/2004 2:03:09 AM PDT by Jim Robinson. [history]

NEW YORK (CNN/Money) - The Democratic presidential candidates want to repeal some or all of the tax cuts enacted by the Bush administration, arguing that will help fend off crippling budget deficits that could threaten the world's largest economy.

But some economists are warning that it's just not that simple.


(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Extended News; Politics/Elections
KEYWORDS: bushtaxcuts; commienewsnetwork; dems; taxhikers
>>>>"George Bush giving tax breaks is like Jim Jones giving Kool-Aid. It tastes good, but it'll kill you,"

Rhetorical hand-grenades, lobbed by the marginally articulate.

>>>>Wieting and some other economists worry that rolling back tax cuts, even if only for the wealthiest Americans, could have a negative impact on stock prices, business investment and hiring.

While CNN/Money talks to Democrats who actually work for a living. Notice the difference?

1 posted on 09/23/2003 9:09:16 AM PDT by .cnI redruM
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To: .cnI redruM
"George Bush giving tax breaks is like Jim Jones giving Kool-Aid. It tastes good, but it'll kill you," candidate Al Sharpton said at a debate in Columbia, S.C., in May."

How did I miss this when this flake said it? Unbelievable that he should equate the President with a mind-controlling cult leader....and the American people with his stupid followers.

2 posted on 09/23/2003 9:12:59 AM PDT by anniegetyourgun
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To: .cnI redruM
"I don't buy into those supply-side, trickle-down ideas," said Mark Zandi, chief economist at Economy.com. "Those arguments might have made some sense 25 years ago, when the top tax rate was 70 percent, but not today, when the top rate is half of that."

And this idiot has no right to call himself an economist.

3 posted on 09/23/2003 9:14:58 AM PDT by anniegetyourgun
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To: anniegetyourgun
He's spent too much time around BIll CLinton and Howard Dean.

Besides, those COll-Aid guys are just a bunch of capitalist pigs.
4 posted on 09/23/2003 9:15:44 AM PDT by .cnI redruM (Success will not come to you. You go to success.)
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To: anniegetyourgun
CNN has an idiot quota to meet. I'll admit I read that and wanted to paraphrase Haley Joel Osmont. "I see stupid People!!!"
5 posted on 09/23/2003 9:16:52 AM PDT by .cnI redruM (Success will not come to you. You go to success.)
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To: .cnI redruM
Coll aid = cool-aid. These libs thuroughly p-ss me off!
6 posted on 09/23/2003 9:17:31 AM PDT by .cnI redruM (Success will not come to you. You go to success.)
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To: .cnI redruM
"George Bush giving tax breaks is like Jim Jones giving Kool-Aid. It tastes good, but it'll kill you," candidate Al Sharpton said at a debate in Columbia, S.C., in May.

Voting Democrat will kill you quicker.

7 posted on 09/23/2003 9:27:03 AM PDT by CROSSHIGHWAYMAN
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To: .cnI redruM
I don't buy into those supply-side, trickle-down ideas," said Mark Zandi, chief economist at Economy.com. "Those arguments might have made some sense 25 years ago, when the top tax rate was 70 percent, but not today, when the top rate is half of that."

This idiot needs to find out how a 70% tax rate on a given amount of money 25 years ago, compares to the same amount taking the inflation rate into consideration.

$200,000 25 years ago was a huge chunk of change. The people making $200K back then are probably making $350K today.

8 posted on 09/23/2003 9:29:45 AM PDT by Arrowhead1952 (Clone Ann Coulter, the woman sent by God)
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To: CROSSHIGHWAYMAN
And it doesn't even taste good, gee.
9 posted on 09/23/2003 9:29:55 AM PDT by .cnI redruM (Success will not come to you. You go to success.)
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To: .cnI redruM
I suppose it makes sense for a party hoping for an economic downturn to suggest such things. Get it, CNN?
10 posted on 09/23/2003 9:43:13 AM PDT by epluribus_2
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To: epluribus_2
Oh yeah, CNN/Money is the Girondist wing, CNN/'News' is where the Jacobins reside.
11 posted on 09/23/2003 9:46:03 AM PDT by .cnI redruM (Success will not come to you. You go to success.)
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To: .cnI redruM
Democrats want to roll back the recent tax cuts,

The Democratic presidential candidates want to repeal some or all of the tax cuts enacted by the Bush administration

The ‘Rats would love everyone to call these a “roll back” or “repeal” but the truth is these ‘Rats are proposing to Raise Taxes pure and simple.

The Bush tax cuts are the law, the same as any other tax law. If the ‘Rats want to change the tax law to increase taxes, that’s exactly what it is, a tax increase, not a “roll back” or “repeal”.

Don’t let the ‘Rats get away with this verbal sleight of hand. The ‘Rats want to raise your taxes, surprise, surprise!

12 posted on 09/23/2003 10:31:51 AM PDT by RJL
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To: .cnI redruM
"1993 all over again? If, on the other hand, the economy is roaring by 2005, some economists believe it might be strong enough to absorb rolling back tax cuts. Some note that a tax hike in 1993 didn't sink the economy, as many Republicans thought it would."

Obviously, tax increases in 1993 AND every year thereafter did INDEED sink the economy, starting in 2000 UNDER CLINTON'S WATCH. Druing Clintons first term, the economy was still enjoying the benefits of Reaganomics.

The Dems just want the president to fall for the SAME ploy his father did and raise taxes, thus sinking his presidency. IMO, WE are sunk without President Bush for 4 more years. Can our economy handle another terrorist attack? Will Wussly Clark and Sec of State Bill Clinton hand us anything more than the plateful of terrorism they handed us before?

The economy WILL continue to recover, in part because of the Bush administration tax cuts. And in 2005, if there is a Clintonista back in the White House, he'll be doing exactly what Clinton did with the remnants of the Reagan economy : taking credit for the result of the Bush economic agenda.

I agree with Wieting's assessment 100%.

$harpton is a moron. This is the first time I heard that he compared the Bush administration fo Jones. 'Of course, people troll here, and no doubt read the frequent references to "Clinton Kool Aid Drinkers"....as usual, the Dems tried to steal a conservative idea, but got it all wrong because they didn't understand what we were talking about to begin with.

13 posted on 09/23/2003 10:35:52 AM PDT by cake_crumb (UN Resolutions = Very Expensive, Very SCRATCHY Toilet Paper)
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To: .cnI redruM
Sooooo .. my son, his wife and 3 daughters will have to give back the 1200 they received - which helped them clothe their girls for school. And .. helped my son purchase a computer for his business.

My son is not rich - these people are crazy - giving back this money will be an EXTREME hardship for my son.
14 posted on 09/23/2003 11:04:52 AM PDT by CyberAnt (America - The Greatest Nation on the Face of the Earth)
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To: .cnI redruM
Economic Policy Institute, a liberal think tank

Now there's a contradiction in terms.

15 posted on 09/23/2003 12:15:13 PM PDT by cruiserman
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To: cruiserman
>>>>Economic Policy Institute, a liberal pee tank

There, better?
16 posted on 09/23/2003 1:39:53 PM PDT by .cnI redruM (Success will not come to you. You go to success.)
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