bad news for Big O

[Fishpart]

History has shown...EVERY SINGLE TIME, when you cut taxes the economy recovers and jobs are created.

[JohnnyD]

Originally Posted by Fishpart

History has shown...EVERY SINGLE TIME, when you cut taxes the economy recovers and jobs are created.

Really? Seems as though the Bush tax cuts have contributed significantly to the current economic situation, while also contributing to a massive increase in the national debt under his reign. One major criticism of current Dems is that if they cannot pay for their spending and debt increases significantly, we're in for major issues with inflation and long-term economic problems (which I fully agree with).

I would be curious to read any article you may have seen about how every single time, tax cuts have resulted in a long-term improvement in the economy and jobs; while also not contributing to an increase of debt.

[scottw]

Originally Posted by JohnnyD

Really? Seems as though the Bush tax cuts have contributed significantly to the current economic situation, while also contributing to a massive increase in the national debt under his reign. One major criticism of current Dems is that if they cannot pay for their spending and debt increases significantly, we're in for major issues with inflation and long-term economic problems (which I fully agree with).

I would be curious to read any article you may have seen about how every single time, tax cuts have resulted in a long-term improvement in the economy and jobs; while also not contributing to an increase of debt.

you are right as usual JD

[JohnnyD]

Originally Posted by scottw

you are right as usual JD

That doesn't even make sense.

[fishbones]

Originally Posted by JohnnyD

Really? Seems as though the Bush tax cuts have contributed significantly to the current economic situation, while also contributing to a massive increase in the national debt under his reign. One major criticism of current Dems is that if they cannot pay for their spending and debt increases significantly, we're in for major issues with inflation and long-term economic problems (which I fully agree with).

I would be curious to read any article you may have seen about how every single time, tax cuts have resulted in a long-term improvement in the economy and jobs; while also not contributing to an increase of debt.

So now it's the tax cuts that led to the deficit? I thought it was the war in Iraq?

Tax cuts are really just a loan from the government which is to be paid back in future taxes. And in reality, they've been very successful in the US and other countries in the past. Unfortunately for us right now, a tax cut wouldn't be successful because you need to have a reduction in government spending in conjunction with the cuts. This administration has already shown that government spending is on the increase with no sign of slowing down. You also must have consumers willing to put money back in the economy. If they have no confidence, they won't spend the money. Right now, consumer confidence is extremely low.

[JohnnyD]

Originally Posted by fishbones

So now it's the tax cuts that led to the deficit? I thought it was the war in Iraq?

You imply my post states that the tax cuts were the sole reason.

Really? Seems as though the Bush tax cuts have contributed significantly to the current economic situation, while also contributing to a massive increase in the national debt under his reign. One major criticism of current Dems is that if they cannot pay for their spending and debt increases significantly, we're in for major issues with inflation and long-term economic problems (which I fully agree with).

...

There are massive costs that come with starting 2 wars, yet Bush pushed tax cuts through in 2001 and again in 2003. He had his war agenda in place and no plan to pay for it. I'll accept the 2001 cuts because of Sept 11 and him campaigning on it, but then to thoroughly plan a case for war in Iraq and push more tax cuts in the same year was reckless. There are so many things that have gone wrong in Iraq that "how were we going to pay for this again?" often is forgotten.

It's similar to the current situation we face with health care and the bailouts. With the agenda the Dems have in place, if they were then to push for tax cuts, there would be no question to the complete financial failure of this country.

Huge debts plus additional expenses and then to decrease receivables from taxes is insane. It is insane today and it was insane during the last administration.

[fishbones]

Originally Posted by JohnnyD

Huge debts plus additional expenses and then to decrease receivables from taxes is insane. It is insane today and it was insane during the last administration.

I figured as a business owner you'd understand that all debts aren't bad. Tax cuts are put in place to get people spending. This increases GNP, which helps offset the lost revenue from the tax cuts. As I mentioned before, cutting government spending also helps offset the lost tax revenue. Tax cuts put more money into the hands of the people who are going to spend it, while throwing stimulus money at big corporations and banks just drains more money from the economy.

[JohnnyD]

Originally Posted by fishbones

I figured as a business owner you'd understand that all debts aren't bad. Tax cuts are put in place to get people spending. This increases GNP, which helps offset the lost revenue from the tax cuts. As I mentioned before, cutting government spending also helps offset the lost tax revenue. Tax cuts put more money into the hands of the people who are going to spend it, while throwing stimulus money at big corporations and banks just drains more money from the economy.

Again you're putting words into my mouth.

[scottw]

Originally Posted by JohnnyD

Again you're putting words into my mouth.

he's only trying to help you sound intelligent

[fishbones]

Originally Posted by JohnnyD

Again you're putting words into my mouth.

How so? You harp on deficits and debt and imply that they're bad. I simply pointed out that not all debt is bad debt. I learned that in college. Of course I only minored in economics in college because the advanced classes were too difficult for me. That's why I switched my major to Poli Sci. No math or real involved thinking required.