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At the end of the first quarter, there will probably be another bump as people get their tax returns, but I can't see consumer spending trending upward significantly any time soon. There are still far too many radicals with the economy and health care. |
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Increasing deficits and debt with no real outlook at how the debts are going to be paid are what caused the collapse of the financial sector and, as I stated earlier, is how the Iraq War/Tax Cuts relationship was a major contributing factor to our current economic state. |
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You can't have it both ways. And for the record, I think as usual we're not that far apart on our thoughts here. We just have a different way of arriving there. |
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I don't support the massive debt being racked up by just about *ALL* the Democrats right now. But, I didn't agree with the debt being racked up by the Republicans during their last reign either. |
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The 2001 Bush tax cuts were intentionally graduated to impact the wealthy more during the later years of the program, and this was changed in 2003 to accelerate the benefits to higher wage earners. Additionally, the tax cuts were designed to expire in 2011 specifically so they could avoid rules intended to protect hidden spending, really to hide the true cost. Yes, the rich pay more, blah blah blah, we all know this but the 2001 tax cut wasn't really as simple as being across the board. -spence |
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