Greenspan: Let Bush's Tax Cuts Expire

[Zebo]

Debt slave suckas, chained to the oars of the USS Oligarchy...

(Whip Crack!) Row, you biatches- Row!

It will be interesting to see how it all falls out once we can't play extend and pretend no more. Could go commie too with enough people angry just as easy as the fascist state you imply.

 

[Zebo]

Yeah we should start by cutting the war machine.

Pffft that's one thing we really need when we tell China and sovereign funds to piss up a rope.

 

[child of wonder]

Not rolling in cash after buying the McMansion with a 1500 mortgage every month, oh did we mention the 2 brand new cars and a boat payments on too? WE NEED MORE MONEY cuz now we want a motorhome. Sheesh... yep!

130K a year is ROLLING.... what more do these rich assholes want?

Sadly, no.

If we didn't have kids or didn't bother saving for retirement, then we'd have almost $2,200 extra disposable income each month. Then I'd say we're "rolling."

 

[BoberFett]

Not rolling in cash after buying the McMansion with a 1500 mortgage every month, oh did we mention the 2 brand new cars and a boat payments on too? WE NEED MORE MONEY cuz now we want a motorhome. Sheesh... yep!

130K a year is ROLLING.... what more do these rich assholes want?

Jealousy is ugly.

Do you actually believe $1500/mo gets you a McMansion? You're a little boy who doesn't know how much real life costs, aren't you? Does mommy still pay the bills and tuck you in at night?

 

[BoberFett]

It will be interesting to see how it all falls out once we can't play extend and pretend no more. Could go commie too with enough people angry just as easy as the fascist state you imply.

In financial meltdown, of course communism is the first step. The people beg the government to save them, because they've been taught that government is the solution to life's problems. But communism is just a stepping stone to totalitarianism.

This has all been seen before. Nothing is new here.

 

[Acanthus]

bush tax cuts single handidly saved our economy. To let expire will kill us.

lol.

 

[boomerang]

In financial meltdown, of course communism is the first step. The people beg the government to save them, because they've been taught that government is the solution to life's problems. But communism is just a stepping stone to totalitarianism.

This has all been seen before. Nothing is new here.

I hated history classes as a youth, but somehow I managed to learn this. I don't know when it changed (over time surely) but people today don't know this. They dismiss immigrants saying that what they see happening here today was what they experienced in the "old country". It's what they or their parents came here to escape.

We'll reach a tipping point when we won't be able to go back. We may have already reached it because it's nearly impossible to recognize when it's happening in real time.

 

[JS80]

Ever Wonder why that chart has such a narrow timeline?

lol thanks for proving my point you moran!

 

[heyheybooboo]

Except you don't necessarily need to cut spending when you cut tax rates.

To all you left wing retards, we're at the latter half of the laffer curve. Tax rate cuts = revenue increase.

VooDoo Economics fail is Fail.

There most likely has never been a more intellectually dishonest Con job perpetrated at ATP&N than this chart (and that in itself is exceptional because of the level of propaganda we see around here). It's a Laugher, alright.

Simple Fact #1:

Total Federal Receipts as a Percentage of GDP

2000 . . . . . 20.6%
2001 . . . . . 19.5%
2002 . . . . . 17.6%
2003 . . . . . 16.2%
2004 . . . . . 16.1%
2005 . . . . . 17.3%


Simple Fact #2:

Increase In Federal Debt Per Year (billions)

2000 . . . . . $18
2001 . . . . . $142
2002 . . . . . $422
2003 . . . . . $568
2004 . . . . . $609
2005 . . . . . $564


Simple Fact #3: Federal receipts in FY2009 and FY2010 are at their lowest levels since 1940 (or 14.8% of GDP).


Simple Fact #4:

This is the image posted on the front page where your chart is located:

Are you 'Izzy' ?





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[khon]

lol thanks for proving my point you moran!

The first Bush tax cuts were in 2001, not 2003. So you should have put the marker at the 1st peak, not in the valley.

But then that would tend to spoil your point, hence the intellectual dishonesty.

 

[JS80]

VooDoo Economics fail is Fail.

There most likely has never been a more intellectually dishonest Con job perpetrated at ATP&N than this chart (and that in itself is exceptional because of the level of propaganda we see around here). It's a Laugher, alright.

Simple Fact #1:

Total Federal Receipts as a Percentage of GDP

2000 . . . . . 20.6%
2001 . . . . . 19.5%
2002 . . . . . 17.6%
2003 . . . . . 16.2%
2004 . . . . . 16.1%
2005 . . . . . 17.3%


Simple Fact #2:

Increase In Federal Debt Per Year (billions)

2000 . . . . . $18
2001 . . . . . $142
2002 . . . . . $422
2003 . . . . . $568
2004 . . . . . $609
2005 . . . . . $564


Simple Fact #3: Federal receipts in FY2009 and FY2010 are at their lowest levels since 1940 (or 14.8% of GDP).


Simple Fact #4:

This is the image posted on the front page where your chart is located:

Are you 'Izzy' ?





--

Moran, the chart combined with your stats prove that tax cuts work as a stimulus and grows the economy while at the same time increasing federal receipts. Of course it will be lower as a % of GDP, it's simple math.

The alternative is you can keep high taxes or RAISE taxes, your economy SHRINKS, as does your receipts. BUT HEY LOOK TAX RECEIPTS AS A % OF GDP IS HIGHER!!!

lol @ your loliberal math. Fucking moran.

 

[Munky]

There was never a budget surplus during the Clinton administration. Stop drinking the coolaid.

And while the tax cuts weren't helpful in minimizing govt debt, that's just the tip of the iceberg when it comes to our federal budget problems.

 

[sandorski]

Moran, the chart combined with your stats prove that tax cuts work as a stimulus and grows the economy while at the same time increasing federal receipts. Of course it will be lower as a % of GDP, it's simple math.

The alternative is you can keep high taxes or RAISE taxes, your economy SHRINKS, as does your receipts. BUT HEY LOOK TAX RECEIPTS AS A % OF GDP IS HIGHER!!!

lol @ your loliberal math. Fucking moran.

Liar Fail

 

[Craig234]

There was never a budget surplus during the Clinton administration. Stop drinking the coolaid.

And while the tax cuts weren't helpful in minimizing govt debt, that's just the tip of the iceberg when it comes to our federal budget problems.

Yes, these was.

The main 'fine point' to discuss is how the social security surplus fund has been borrowed and spent 'off the books' by every President since it was created by Reagan.

That means if the budget deficit shows zero, there's a 'real' deficit of that borrowed fund that was a bit over $200 billion later under Clinton.

The thing is, Clinton's budgets surplus was over $200 late in his second term such that even when you count the SS funds, he balanced the budget.

You are also wrong to minimize the borrowed tax cuts' impact on the deficit. While they were not close to a majority of the increase, it was more than a 'tip of the iceberg'.

And it was easily avoided compared to the rest of the budget.

 

[Strk]

I've seen a few people make the comment about the people at the bottom, but do people not realize how our system works and all of us would get hit with the 10% -> 15% increase?

I know a lot of people don't seem to grasp the whole progressive tax system we have

 

[CallMeJoe]

I've seen a few people make the comment about the people at the bottom, but do people not realize how our system works and all of us would get hit with the 10% -> 15% increase?
I know a lot of people don't seem to grasp the whole progressive tax system we have

Misrepresenting the progressive tax system is central to the arguments for tax cuts for the wealthy. If you ignore the fact that the wealthy get generous deductions and that only a small part of their income is taxed at the highest rates it's easier to sell the idea that the top tax rates are confiscatory.

 

[ericlp]

Jealousy is ugly.

Do you actually believe $1500/mo gets you a McMansion? You're a little boy who doesn't know how much real life costs, aren't you? Does mommy still pay the bills and tuck you in at night?

I'm not making more then that, House & Car is completely paid for. Tho I don't have a wife.

Well, if she does tuck me in, I hope she leaves a mint on the pillow too!

Most people that make 100-200K a year are usually the ones that are in debt and cry because they can't afford that "ONE" more item to complete the material loop of insanity. Then they wonder why after paying the mortgages on everything they supposedly own on paper it's kinda disgusting what most people think the 'American dream' is. Mine was to completely become debt free even if it meant moving down into a cheaper neighborhood. Tho I'm currently trying to sell my house.

In today's market 1500 a month in mortgage payments @ 4% should be able to buy you a decent house especially if it's on a ridiculously 30 year note.

Tho, why bother talking to you obviously you have no clue or you would know how bad the market is and how cheap you can get a smallish 3K sqft mcmansion.

 

[BoberFett]

3000sqft is a McMansion? Shit, I guess I live in a mansion and never knew it.

You're a joke.

 

[spidey07]

McMansion starts at 5K square feet. Hell my 3 bedroom/2.5 bath "mansion" is 3000 sqft.

 

[IndyColtsFan]

I always thought a "McMansion" was one of the bigger houses in your typical vinyl village. So, I looked and saw that one of the definitions of McMansion was starting at 3000 ft and showed a house that was mostly vinyl with brick facing. Whatever. If that is a "mansion," my house must be the Taj Mahal.

 

[BoberFett]

Check out my McMansion!

I'm rich bitch!

 

[IndyColtsFan]

Check out my McMansion!

I'm rich bitch!

I'm sure Dave will be along any minute to tell us how we're nothing but "rich" Republicans and how the average Joe's house is about the size of one side of your garage.

To be honest, I miss my starter home but it wasn't "good enough" for the wife. We'd be really rolling in the dough had we stayed there a few more years.

 

[Zebo]

3700 bitches. w/ pond so when SHTF I gots food which I stocked.

 

[IndyColtsFan]

3700 bitches. w/ pond so when SHTF I gots food which I stocked.

You need to put up a stone wall topped with barbed wire, with flood-light towers at every corner and a sniper nest at each end of the house.

 

[Zebo]

You need to put up a stone wall topped with barbed wire, with flood-light towers at every corner and a sniper nest at each end of the house.

Don't think I have not thought of it. But I live in HOA..a sprawling one with 34 homes but still. Good thing is there is a US marshall and retire marine col in here, well plus me to direct them.