Cut Tax Rates For Jobs and Economic Growth [I'm Mad, Dedicated to Those Folks in Detroit]

Alias: Son House | Oct 12, 2009 | Alias: Son House

[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 Residents

Video at link

http://www.clickondetroit.com/news/21215978/detail.html

[Man50D]

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!

You're correct and all those issues are addressed in the bill. The organization with whom the individual will do business with will collect the tax. That businesses will remit the tax to the state, if the state chooses to participate, or some other collecting authority. The tax will then be remitted to the Treasury department. The federal agency that is responsible for collecting the tax will be far smaller. That agency will not have the power to intrude into every aspect of a person's life or require the individual to fill out a multitude of invasive forms since he or she will pay the tax at the point of sale.

The Department of Health and Human Services will administer the prebate.

[Son House]

Thanks, got up early and figured I wasn’t going to get back to sleep, and I got to learn new html skills, a fine start to the day