Source: Democratic National Party
quote: There, I fixed it for you.
quote: "The huge debt amassed under Bush was almost entirely due to unfunded spending (2 wars, medicare D, and his tax cuts)."
quote: tax cut=revenue cut... so.. No they don't go up.
quote: This would only possibly work if taxes were so high that they impede the economy but the are pretty much at a 100 years low so you are wrong.
quote: High taxes on high earners like we had in the fifties did not impede a growing economy.
quote: Low taxes always seem to be linked with depressions.
quote: Again, if that were true, we would have full employment right now which we don't. Again, taxes have never been this low for anybody.
quote: The question becomes: what society or country do you want and how much are you willing to pay for it? It seems an awful lot of high earners want somalia these days.
quote: When tax rates have been cut REVENUES go up.
quote: Both wars cost less than than Obama's Reinvestment act. Do be careful to separate the entire military budget and the actual cost of the wars.
quote: Obama's reinvestment act only cost us around 800billion and over a third of that was tax cuts.
quote: Yes except that was overnight. The cost of the wars were spread out over 10+ years.
quote: The 4 year period after the Bush Tax cuts went into effect the IRS grossed all time high tax receipts. All time, as in highest ever in the country. Tax cuts ALWAYS stimulate the economy, which increase tax revenues.
quote: When Bush left office he had a $430 billion deficit. Not great by any means, but lets compare that to Obama's FIRST year in office shall we? Hmmmm, the billions somehow turned into trillions!
quote: Do you just enjoy rewriting history or something?
quote: Oh, I'm sorry. I completely forgot that if it's long term and done by a Republican then it's ok for it to cost the American public a lot more.
quote: Tax rates and receipts make a curve not a diagonal graph. I suggest you look up the Gaffer curve, since you seem to be confused
quote: You're joking right? Are you forgetting about the bank bailouts that got tacked onto FY09, which Obama had little impact on besides adding the reinvestment act. So it's not as much of a gap as you are implying. So a better comparison would be FY09, which was Bush's budget minus 800 billion, and FY10 which was Obama's first budget. So 1.4trillion - 700bil = 700bil was Bush's last deficit vs the 1.3trillion of Obama's first budget - the 400bil loss in tax receipts = 900bil. So Obama didn't go on a spending spree as you suggest. Furthermore, deficits are always higher during recessions, that's just how it works.
quote: False. It didn't happen in '02, or '03. The only time that revenues go up is when we are taxing too much and cut those taxes. Look up the Laffer Curve if you don't believe me.