Tax cuts for the Rich

“LOL...Violin reminds me of my teacher in Graduate school who DECRIED Reagan Tax Cuts. When I mentioned it DOUBLED the Taxes collected (i.e. a rising tide lifts ALL BOATS) her response was,"YES but imagine if we had had the higher taxes how much MORE we would have collected."

JEEES, it is real easy Violin....ITS NOT THE GOVERNMENT'S MONEY.”

“When General motors lowered car prices, they sold a bunch of cars, but in time the discount becomes the standard and means little. 'As goes GM, so goes the nation'.You all remember that one -don't you?”

“It's too bad you don't understand basic economics XL. If you were to account for inflation, you'd know that the Reagan tax cuts cut revenue sharply. That's why he was forced to reverse course and raise taxes. Your professor must have been pretty stupid not to know that. I hope you didn't pay too much for the course.”

“Are those thirty year bonds still out there at 22% yield?”

“Violin, UM....how come ALL reports show the start of the greatest economic boom in American history that was only cut by the 1989 Bush 41 debacle?

I do understand basic economics, and I know that the more money you give people to spend the more money goes into the system. The more incentive you give people to propser on THEIR OWN the better they get.”

“You understand basic economics yet you claim that the Reagan tax cuts doubled tax revenue? Taking inflation into account when comparing dollars over a long time period is about as basic as you can get.

Here are the IRS tax collections during the Reagan-Bush I administrations expressed in constant 1987 dollars (in billions):

1980 $728.1
1981 $766.6
1982 $738.2
1983 $684.3
1984 $730.4
1985 $776.6
1986 $790.0
1987 $854.1
1988 $877.3
1989 $916.2
1990 $914.1
1991 $894.7
1992 $895.1

See how the 1981 tax cut caused collections to drop dramatically in constant dollars?

The above figures also include corporate taxes. To see the effect of the income tax cut, we should really look at income tax collections expressed in constant 1987 dollars (in millions):

1981 $367,692
1982 $356,366
1983 $332,033
1984 $328,470
1985 $354,677
1986 $359,307
1987 $392,557
1988 $387,128
1989 $411,533

See the prolonged drop in income tax collections, once you take inflation into account? It took more than 5 years just to get back to where it was.

The facts are not kind to your ideology.

And remember, Reagan signed two tax increases in 1982 and several others after that. (Google "Tax Equity and Fiscal Responsibility Act", "Highway Revenue Act", "1983 Social Security Reform",
"1984 Deficit Reduction Act", "Consolidated Omnibus Budget Reconciliation Act of 1985", "Tax Reform Act of 1986" and "Omnibus Budget Reconciliation Act of 1987".)

As for your "greatest economic boom in American history" - the Kennedy-Johnson and Clinton expansions were both longer. Not ALL reports show the Reagan boom to be the greatest, just the ones that are wrong.
last edited: 6/12/06 2:28:53 PM”

“The top rate dropped 25% ,1963-1965(91%>70%)”

“Noncomformist, if there was an argument in your response, I'd rebut it - but I don't see one.”

“Funny.

The left has been on here saying it's the Republicans who spend more, but when the argument shifts, they boast about how much the Dems taxed us more than the Repubs.”

“The average of the income numbers is $365529.2 which is pretty much back to the 81 number. Interesting.”

“The middle class tax cuts are due to expire in a few more years too (like the estate tax repeal).

You'll notice that the Republican controlled Congress didn't even talk about extending those breaks - they just wanted to make sure Paris Hilton didn't have to pay her fair share.”

“Violin can never give a straight answer. LOL! I'd feel bad for the waitress that has to wait on this doofus at a restaurant…”Well I could have the cobb salad but that means I’ll I’ll have green stuff in my teeth…or I could have steak but steak is just too republican and manly….oh screw it I’ll have the chicken…wait, antibiotics!…give me the fish….””

“My retarded stalker is back.”

““Noncomformist, if there was an argument in your response, I'd rebut it - but I don't see one.”
pedxing
4:58:19 PM
6/12/06


Argument? Is that why you guys hang out in fuego all the time? How sad.

Ped, you can take my response any way you like to take it.”

“Correction Ped, you can't take it up the ass. I gotta hike with this guy from time to time. LOL!”

“LOL

http://www.prweb.com/releases/2006/5/prweb383290.htm


WHO DID THIS? When did the Tax increase come in to MAKE this happen???

Wait it is a result of TAX Reductions....

OH WHAT'S a LIBERAL TO DO??? When reality slaps him in the face???”

“Wait a second here. You mean we got a tax cut but the tax revinue is still going up? NO WAY!! Sounds like fuzzy math to me. The very idea that if you let Americans keep more of their own money they spend more is absolute boohoggery. LOL!
last edited: 7/10/06 7:29:47 AM”

“But, go buy a house for 3 times it's price 4 years ago. Fuzzy ain't so fuzzy when you chase that tail. Redisribution of debt tells the story.”

““But, go buy a house for 3 times it's price 4 years ago. Fuzzy ain't so fuzzy when you chase that tail. Redisribution of debt tells the story.”


So if sell my house I've had for 6 years I can get three times what I paid for it? Yeah right. Who you tryin' kid?”

“Where do you live Nigal?”

“The hinterlands of Ohio.”

“LOL...Nigal I bought a place outside of Augusta GA...near the lake (4 minutes from water) for 60K 2 acres with a house....a friend of mine had a similar house and just sold it for 105K....I say GOOD investment”

“It is a shame a fiscal conservative like me has to look back to Clinton to see any positive debt reform

Bateaux.



September 27, 2000
WASHINGTON (CNN) -- President Clinton announced Wednesday that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year's record surplus of $122.7 billion. Eight years ago, our future was at risk," Clinton said Wednesday morning. "Economic growth was low, unemployment was high, interest rates were high, the federal debt had quadrupled in the previous 12 years. When Vice President Gore and I took office, the budget deficit was $290 billion, and it was projected this year the budget deficit would be $455 billion." Instead, the president explained, the $5.7 trillion national debt has been reduced by $360 billion in the last three years -- $223 billion this year alone. This represents, the largest one-year debt reduction in the history of the United States.

Here is a chart of where we have been.
http://www.uuforum.org/deficit.htm

Click here to see the debt increse before your eyes! Don't let the VooDoo number grinders fool you. There are no conservatives in Washington.
http://www.uwsa.com/uwsa-usdebt.html”

“Bateaux....lets keep remembering it is the Congress that passes budgets...but still it is sad that the REPUBLICAN (for what that name USED TO MEAN) controlled congress is spending like they never have before.

I truly plan on voting against all my congress reps and senators in the next go round. Sorry but if the Dems would put their "loony side" under wraps and announce a three part plan
1, Control spending
2. FAIR TAX
3. Finish the Job with respects to War on Terror...

They would sweep the next election. If the followed through with it....the republicrats could save some money and run a repeat of the Bob Dole campaign.”

“Who's Dob Bole? Needs to be a little less redistribution of debt. Boeing wanted to write their 615 million dol
lar fine against income. McDonald D. has really taught Boeing things about government money.”

“Mc D was taught by their top Lobbyist want to guess who that was in the 90's?????”

“Am i high or is salebored making even less sense than he usually does?”

“I think the salebored troll is Geobeet on heavy heavy heavy drugs.”

“I've seen drunk people who speak English as a second languiage make more damn sense.”

“Another worthless opinion from the one and only Captain Poopypants.”

“Still haven’t figured out how to use the ignore feature Genius?”

“LOL! This thread is pretty funny. Because of the miracle of the Bush tax cuts we have gone from massive surplus to massive deficits that aren't as be as we were afraid they would be. Hmmmm... smells like success to me!!!

Apparently because the stock market made up a good bit of the ground previously lost under Bush a lot of people had profits to show for 2005 and they paid more taxes. But it is so much more fun to try to claim that all this shows Bush's economic plan is working for everyone.”

“"But it is so much more fun to try to claim that all this shows Bush's economic plan is working for everyone.”

Why not? Everyoine tries to BLAME it all him too. How come they don't give him all the credit when things go right?”

“OK, Party on Dude!

And hey, as long as your buying, I'm happy to toast to the fact that we've gone from big surpluses to a 300 billion dollar deficit and not a 400 billion dollar one.”

“See? Liberalism IS a mental disorder. It just sapps the happiness and optomism right out of a person.”

“I say what Ped sed.”

“1, Control spending
2. FAIR TAX
3. Finish the Job with respects to War on Terror...

1. Shouldn't be too hard with the legacy the current chumps will leave behind. Prescription Drug Benefit, anyone?

2. Is ANY tax fair? Somebody somewhere in some tax bracket gets hosed, it's just a matter of which ox to gore.

3. Good luck. Sorry, folks, this is one "war" that will never end. It's not like WWII, where you invade a country and conquer it and it's over.”

“No reason to end a war when you own HAL.”

““See? Liberalism IS a mental disorder. It just sapps the happiness and optomism right out of a person.”
Nigal
7:15:47 AM
7/11/06

Gee Nigal that's not fair. I was optimistic that you'd buy the first round, and happy about it too. Just to show how optimistic I was, I was thinking a pitcher of beer! (No use toasting with Chardonnay or Budweiser).”

“But that would defeat the whole purpose. If I buy the first round that would be blwoing my whole tax cut in one sitting. I ain't as dumb as ya think I am! LOL!”

“I own BUD also, watchitt.”

“LOL @ Nigal.

Sorry Salebored, I've got nothing against Bud, its just that I prefer beer.”

“THIS IS SO COOL...we can actually take a tax thread to a WAR thread...and to a BEER thread....anyone want to drag this sucker into NASCAR...or hey lets go with a Backpacking question.

Your buddy will be late meeting you at his house for the hike...all his stuff is laid out and you kow how he stows it....is it permissable to slip a couple of breswskies or 10 into the back pack for later consumption?”

“Only if there is enough room for the rocks I usually put in.”

““But that would defeat the whole purpose. If I buy the first round that would be blwoing my whole tax cut in one sitting. I ain't as dumb as ya think I am! LOL!”
Nigal
10:07:39 AM
7/11/06

Typical liberal! Bringing up topics that dampen my sense of happiness and optimism.”

“ROTFLMAO@PED!

YEARS ago I carried the MED KIT up a mountain in Colorado, got to the top and the Sgt, mentioned it would be a fitting moment for a cold one....I laughed and said,"WHo would be stupid enough to bring a beer up that wall?"

Guess who? But it was a good beer”