CBO: Extend Bush Tax Cuts to boost economy

[Darwin333]

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.

So what you are really saying is that when the Repubs have a majority the Dems are their bitches but when the Repubs are in the minority the Dems are still their bitches?

 

[JSt0rm]

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

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

what is black what is white

terrorist! 9/11! liberty! and some other stuff

 

[Jhhnn]

Funny how much higher taxes pre-Reagan didn't give us a "crippled economy"... maybe there are other factors at play, like a huge shift in income to the tippy-top... fueled by top tier taxcuts... maybe it was because we weren't bleeding funds out in huge balance of payments deficits, fueled by american capitalists investing their taxcut monies in economies other than ours... maybe because we hadn't runup enormous debt and debt maintenance to allow reaganomics to appear to actually work...

Repubs currently offer that they can easily balance the budget and cut taxes at the same time... they said that before, didn't they? All they did was cut taxes, however, particularly at the top, and borrow more money... why would anybody believe them now?

Not to mention that they overheated and crashed the economy in the first place...

Next up- Repubs hold the Bush working and middle class tax cuts hostage to the cuts for the financial elite... in a very callous and dishonest manner, I'm sure... Dems would do us all a favor just to let the cuts expire rather than give in to more extortion...

 

[Craig234]

So what you are really saying is that when the Repubs have a majority the Dems are their bitches but when the Repubs are in the minority the Dems are still their bitches?

I guess that's the 14 year old 'look at me I say bitches a lot' version, but what I said was pretty clear, that blaming the Dems for Republican abuse of the filibuster is wrong.

And as i said, what's missing is holding the Republicans accountable for what they're doing with that abuse.

If you can make the case Dems should weaken the filibuster, they're at fault for not doing so. Many Dems do blame Dems in the Senate for not pushing harder on the abuse.

I also blame the media for not doing better at correctly explaining what's happening, pointing out what the Dems vote for and who is blocking it.

 

[Craig234]

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.

Nothing passes without the Senate, and the minority of Republicans in the Senate are holding the government hostage blocking almost everything by abusing the filibuster.

That's who controls the government right now, as far as blocking things. The good news is, the Republicans can't pass their own bills.

Why the hell doesn't the blame for a bill not passing that the Democrats vote for and the Republicans block abusing the filibuster belong on the Republicans?

Blame the Dems for what they vote for and against - blame the Repubs for blocking the passage. Why are you confused about this basic operation of Congress that has been explained ad infinitum?

The Dems are pushing a lot of good things 'controlling' the government, a few get through the Republicans.

 

[LegendKiller]

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

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

What was the total debt increase, including personal, corporate, municipal, state, federal under the drunkard, cokehead, REMF?

Ohh yeah, the whole country went on a spending binge fueled by ~5TR in mortgage debt, 2/3 of which was vaporized in the last 36 months.

Where did those construction jobs come from again?


Here's a better question you fucking moron. If I crash your car, then give you the keys and tell you to fix it and you drive it to the repair shop to get it fixed, is the accident my fault or yours?

What if I burn down your house and then give you a bucket of water after its burned down, should you be blamed for not saving your house?

Even better question. Who exactly set the 2010 budget? How much of the shortfall was caused by Bush's policies?


Ohh yeah, Bush set the 2010 budget, Bush's tax cuts caused EIGHTY PERCENT of the shortfall.

And finally, the debt under Bush, including the 2010 budget shortfall, which is 100% of his fault, went from 9TR to 14TR. I know you lack a braincell and a nut to knock together so I'll do the math for you, that's a 55% increase you fuckwit. In fact, 90% of *ALL* sovereign debt was caused by a "Republican" in the last 30 years.

Now shut the fuck up you moron.

 

[spidey07]

Lk, congress does the budget. Dems had it in 2006. That's when the trouble started

 

[JSt0rm]

Lk, congress does the budget. Dems had it in 2006. That's when the trouble started

all of our troubles started in 2006?

 

[sandorski]

all of our troubles started in 2006?

That's when the Dems were Elected, isn't it obvious?

 

[hal2kilo]

Lk, congress does the budget. Dems had it in 2006. That's when the trouble started

Willfull ignorance is definately your forte.

 

[First]

Lk, congress does the budget. Dems had it in 2006. That's when the trouble started

rofl I love ya spidey, you're endless entertainment.

 

[GuitarDaddy]

rofl I love ya spidey, you're endless entertainment.

Kinda of like the energizer bunny of FUD. He just keeps going and going and going

 

[spidey07]

I see deflect mode is in full effect. The facts remain. Obama tax hikes are going to kill us b

 

[heyheybooboo]

Perhaps CBO Director Douglas Elmendorf should read some other CBO publications ...

... the Congressional Budget Office (CBO) recently estimated the cost of extending them through 2017 at $1.9 trillion, not counting the costs of debt service, and not counting the cost of indexing the alternative minimum tax (AMT) to inflation (around $600 billion) to prevent it from undoing much of the cuts...if one takes into account the direct effects of the tax cuts, extra interest payments, and the extra "interaction" cost of reforming the AMT while extending the Bush tax cuts, the combined cost of extending the tax cuts through 2017 adds up to $2.8 trillion.

Roughly 35 percent of that figure, or $980 billion, is 'recaptured' in the Obama budget proposals, the overwhelming majority of which is the AMT cost of $600 billion (which, not surprising, George Bush never proposed in any of his budgets).

A sample of Ass-Facts and propaganda thus far:

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

That would be incorrect.

In order to circumvent budget rules the 2001 and 2003 tax laws had to 'sunset'.

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.

This is also incorrect.

1) GDP and employment expanded at a greater rate during the 1990s. Not only did the economy not 'roar' under Bush, the tax cuts reduced Federal revenues by over $1.8 trillion.

Nice try, but Fail, Spidey. See below:

Kinda of like the energizer bunny of FUD. He just keeps going and going and going

I see deflect mode is in full effect. The facts remain. Obama tax hikes are going to kill us b

Did you choke on your own obfuscation?




--

 

[Darwin333]

I guess that's the 14 year old 'look at me I say bitches a lot' version, but what I said was pretty clear, that blaming the Dems for Republican abuse of the filibuster is wrong.

And as i said, what's missing is holding the Republicans accountable for what they're doing with that abuse.

If you can make the case Dems should weaken the filibuster, they're at fault for not doing so. Many Dems do blame Dems in the Senate for not pushing harder on the abuse.

I also blame the media for not doing better at correctly explaining what's happening, pointing out what the Dems vote for and who is blocking it.

so.... we are back to my original point, both parties suck. Exactly what point are you trying to make?

You should know by now that I don't buy the "those guys suck less than these guys". They both fucking suck. Period.

 

[Throckmorton]

lk, congress does the budget. Dems had it in 2006. That's when the trouble started

bbbbbbut democrats!!

 

[Jhhnn]

Lk, congress does the budget. Dems had it in 2006. That's when the trouble started

Full blown denial, like a drunken Alky lying in the gutter, telling the world that drinking isn't his real problem- it's anything and everything else.

 

[manimal]

In order to circumvent budget rules the 2001 and 2003 tax laws had to 'sunset'.




--

absolutely right boo

The bush tax cuts had to sunset because they were not budget neutral and would add considerably to the national debt-which they did-

Calling them Obama's tax hike is being willfully ignorant of the facts...

You cant have your cake and eat it too when it comes to tax breaks anymore... Either your for a balanced budget with lowering the national debt or your for tax breaks... Its one of the other...

Supply side economics do not work. we have the data...

Whats funny to me is your basically equating tax cuts to stimulus.... While technically tax cuts are the least efficient stimulations you can do on an economy-in terms of return on investment-your essentially saying we need more stimulus..

get your ideology straight.... bailouts bad or good?

BTW remember your positions on how bad the bailout of the auto industry was? How do you like your position on that now?

 

[Harvey]

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

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

Psssst! Hey, Spidey -- I hate to burst your fallacy bubble, but...

1. Obama only wants the Bushwhacko tax cuts to expire for the wealthiest 2%, those making over $250,000. Everyone else's tax rates will be reduced or stay the same.

2. The "Obama tax hike" to which you refer is actually the Bush tax hike. That's the way the Republican majority wrote the bill Bush signed.

I don't have time to read the whole report, right now, but most of the comments I found in a quick search indicate that the CBO's report is most favorable if the tax cuts are continued for all but the wealthiest 2%.

You know... the well heeled Wall Street robber barons oil execs who underwrite their Republican lackies to kill financial regulation and oversight, despite having caused the biggest financial losses since the Great Depression. We haven't had enough of that.

You know... the well heeled oil, mineral and energy robber barons who underwrite their Republican lackies to kill safety and environmental regulations < cough> BP... < cough> Massey Energy.

You know... the well heeled medical insurance robber barons who underwrite their Republican lackies to gut and kill affordable real health care.

We haven't had enough of that, and I'm sure all those needy uber-wealthy execs will be glad to chip in and spend their wealthy asses off to raise the overall economy and donate to support the millions of people they harm with the next crisis they cause. They may not be able to donate enough to help those they kill. :thumbsdown:

 

[manimal]

Psssst! Hey, Spidey -- I hate to burst your fallacy bubble, but...

1. Obama only wants the Bushwhacko tax cuts to expire for the wealthiest 2%, those making over $250,000. Everyone else's tax rates will be reduced or stay the same.

2. The "Obama tax hike" to which you refer is actually the Bush tax hike. That's the way the Republican majority wrote the bill Bush signed.

I don't have time to read the whole report, right now, but most of the comments I found in a quick search indicate that the CBO's report is most favorable if the tax cuts are continued for all but the wealthiest 2%.

You know... the well heeled Wall Street robber barons oil execs who underwrite their Republican lackies to kill financial regulation and oversight, despite having caused the biggest financial losses since the Great Depression. We haven't had enough of that.

You know... the well heeled oil, mineral and energy robber barons who underwrite their Republican lackies to kill safety and environmental regulations < cough> BP... < cough> Massey Energy.

You know... the well heeled medical insurance robber barons who underwrite their Republican lackies to gut and kill affordable real health care.

We haven't had enough of that, and I'm sure all those needy uber-wealthy execs will be glad to chip in and spend their wealthy asses off to raise the overall economy and donate to support the millions of people they harm with the next crisis they cause. They may not be able to donate enough to help those they kill. :thumbsdown:

Good post!

 

[Lemon law]

OkOK, suddenly republirats, dimocrats, and the CBO all agree we have to stimulate the economy given how screwed up it is now.

Missing in action in the CBO report is any indication of which way to stimulate the economy is most costs effective.

We have the old GWB tax stimulus plan that schews most benefits to mainly the rich,
but gee failing any other stimulus the GOP filibusters, it might beat no stimulus at all.

In short this cbo report tells us nothing at all about all the stimulus options and how they can be compared.

 

[OrByte]

I dont buy that tax cuts help spur job growth and corporate investment into America.

Corporate Investment into America died a looong time ago.

Corporations had all the bush tax cuts they could get and STILL jobs were sent overseas and the middle class workers suffer and continue to suffer.

OP is shilling for the wrong team. Its time to stop shilling for big business OP. You need to start shilling for "We the People"

 

[Slew Foot]

1. Obama only wants the Bushwhacko tax cuts to expire for the wealthiest 2%, those making over $250,000. Everyone else's tax rates will be reduced or stay the same.

Technically thats not true, the way the current law is written, EVERYONES tax rate will go up, unless congress acts to change the law, which so far, it hasnt done.

And while I agree that everyone should pay into the government kitty, the size of that kitty should be vastly reduced.

 

[umbrella39]

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.

He is just stuck in a loop that starts at his head and ends up his ass. Nothing new really.

 

[sandorski]

He is just stuck in a loop that starts at his head and ends up his ass. Nothing new really.

Considering the close proximity, it's not really a Loop at all.