CBO: Extend Bush Tax Cuts to boost economy

[spidey07]

File this under the "no shit" column. When the obama tax hikes kick in it would cripple an ailing economy because there would be less money to hire people, invest, build, etc. Our economy simply cannot take the Obama tax hikes set to take place Jan 2011.

http://www.humanevents.com/article.php?id=38702

A surprising report from the Congressional Budget Office gives new support to permanently extending the tax cuts enacted under President George W. Bush—dealing a major blow to President Obama's plans to raise taxes at the end of this year.

In a significant story that receive scant attention from the national news media, CBO Director Douglas Elmendorf says that keeping the Bush tax cuts that affect upper-income taxpayers, small businesses and investors will give the weakened economy a "considerable" economic boost over the next several years and create jobs that will drive down unemployment.

 

[her209]

When the Bush tax hikes...

Fixed that for you.

Why didn't the Republicans make the tax cuts permanent in 2001/2003?

 

[DesiPower]

but... but... who will pay for the food clothe and medicine for all the poor ppl Obama is creating/importing? who will take care of their anchor babies? after all, all of us do have an obligation towards the political agenda of these politicians...

 

[Engineer]

If extending the Bush tax cuts will create jobs, why didn't they create jobs during the previous 8 (or 7 if you count the 2003 tax cuts) years (and I'm not even talking about the jobs lost under Obama's watch)?

(just asking)

 

[LegendKiller]

If extending the Bush tax cuts will create jobs, why didn't they create jobs during the previous 8 (or 7 if you count the 2003 tax cuts) years (and I'm not even talking about the jobs lost under Obama's watch)?

(just asking)

Even better. If cutting taxes created jobs, then why aren't we at 0% unemployment considering that we have the lowest taxes in the upper brackets in modern history.

Supply-side economics = fail.

 

[her209]

If extending the Bush tax cuts will create jobs, why didn't they create jobs during the previous 8 (or 7 if you count the 2003 tax cuts) years (and I'm not even talking about the jobs lost under Obama's watch)?

(just asking)

It created a whoopping 4 million or so jobs (in 8 years).

 

[Engineer]

It created a whoopping 4 million or so jobs (in 8 years).

Private sector?

Look at what jobs were created and get back to me.

 

[JSt0rm]

but... but... who will pay for the food clothe and medicine for all the poor ppl

Who cares? The real question is who will be in the middle class. The middle class is all that matters. Small businesses make the middle class.

 

[PeshakJang]

Fixed that for you.

Why didn't the Republicans make the tax cuts permanent in 2001/2003?

Because the Democrats wouldn't vote for it otherwise. It was a compromise.

 

[PeshakJang]

Who cares? The real question is who will be in the middle class. The middle class is all that matters. Small businesses make the middle class.

It depends on which Democrat you are talking to on any given day of the week. Small business owners are the backbone of the economy, yet at the same time they are rich sonsofbitches that need to pay their fair share.

 

[her209]

Because the Democrats wouldn't vote for it otherwise. It was a compromise.

LOLOLOLOLOLOLOLOLOLOL

Yes, it was the Dems fault despite the Republicans having full control of both chambers.

AHAHAHAHAHAHAHAHAHAHAHAHA

 

[PeshakJang]

LOLOLOLOLOLOLOLOLOLOL

Yes, it was the Dems fault despite the Republicans having full control of both chambers.

AHAHAHAHAHAHAHAHAHAHAHAHA

Compared to these days, where everything is the Republican's fault, despite the Democrats having full control of both chambers?

 

[Ronstang]

Supply-side economics = fail.

So stimulus spending is thus fail, correct?

 

[Throckmorton]

So Republicans argue that the stimulus "didn't work" because unemployment is 10%. Why doesn't the same logic apply to the Bush tax cuts? "Bush Tax cuts didn't work because we had a recession and unemployment is 10%"

 

[her209]

Compared to these days, where everything is the Republican's fault, despite the Democrats having full control of both chambers?

Its exactly like that.

 

[spidey07]

So Republicans argue that the stimulus "didn't work" because unemployment is 10%. Why doesn't the same logic apply to the Bush tax cuts? "Bush Tax cuts didn't work because we had a recession and unemployment is 10%"

You must not remember the roaring economy under Bush and it was directly related to the tax cuts. The Obama tax hikes are going to cripple our economy, just watch if he does it.

 

[Throckmorton]

You must not remember the roaring economy under Bush and it was directly related to the tax cuts. The Obama tax hikes are going to cripple our economy, just watch if he does it.

What?? When did the recession start?

 

[SammyJr]

You must not remember the roaring economy under Bush and it was directly related to the tax cuts. The Obama tax hikes are going to cripple our economy, just watch if he does it.

The roaring Clinton economy was based on the IT bubble. The roaring Bush economy was due to a housing bubble. The soon to be roaring Obama bubble will be based on Green Jobs.

Low tax rates likely contribute to the bubbles but they don't magically create middle class jobs or make up for the lack of steady living wage jobs.

 

[sandorski]

So stimulus spending is thus fail, correct?

You are confused.

 

[Sclamoz]

You must not remember the roaring economy under Bush and it was directly related to the tax cuts. The Obama tax hikes are going to cripple our economy, just watch if he does it.

Yeah if only Obama didn't start the bailouts we wouldn't be in this mess!

 

[LegendKiller]

You must not remember the roaring economy under Bush and it was directly related to the tax cuts. The Obama tax hikes are going to cripple our economy, just watch if he does it.

Wait, what?

Somehow, amazingly, we have lost trillions of dollars of something called...debt.

The "roaring economy" had nothing to do with Bush tax cuts, only a fucking moron would claim otherwise.

That wouldn't be too surprising considering this forum.

 

[JSt0rm]

Wait, what?

Somehow, amazingly, we have lost trillions of dollars of something called...debt.

The "roaring economy" had nothing to do with Bush tax cuts, only a fucking moron would claim otherwise.

That wouldn't be too surprising considering this forum.

It's spidey dude. Do you expect anything else?

 

[Craig234]

Compared to these days, where everything is the Republican's fault, despite the Democrats having full control of both chambers?

Wrong. Democrats do not have control of both chambers in the sense you say it, that they can pass things.

A minority of Republicans abuses the filibuster to block almost anything the majority passes. And it has used it to block most of what Democrats try to pass.

And without the Senate approval, things the House passes don't pass, and many things have passed the House and been blocked by Senate Republicans.

So, you are misleading. The Democrats might have majorities, but they are unable to actually pass most of what they try with the Republicans' abuse of the filibuster.

What's missing is you holding the Republicans accountable for that abuse, instead claiming things the Democrats pass blocked by Republicans are Democrats' fault.

Put the blame where it belongs, on the Republicans.

 

[spidey07]

Wait, what?

Somehow, amazingly, we have lost trillions of dollars of something called...debt.

The "roaring economy" had nothing to do with Bush tax cuts, only a fucking moron would claim otherwise.

That wouldn't be too surprising considering this forum.

What was unemployment under Bush? What was growth under Bush?

What is deficit under Hussein? What is unemployment under Hussein?

 

[Darwin333]

LOLOLOLOLOLOLOLOLOLOL

Yes, it was the Dems fault despite the Republicans having full control of both chambers.

AHAHAHAHAHAHAHAHAHAHAHAHA

I don't like either of the clubs but I sure hear a lot of blaming republicans from the Dems these days.... Could you please remind me who controls the House, Senate and Executive office right now?

What really amuses me is how much Obama is like Bush yet the same people that loved Bush think he is the freaking Antichrist. Democrats or Republicans both owned by the same masters.