The Bush Tax Cuts worked!

23 posts / 0 new
Last post
Thom Hartmann A...
Thom Hartmann Administrator's picture

...if you’re one of the top CEOs in America that is.  According to a new report by the Institute for Policy Studies, 57 of the top 100 CEOs in America – all of whom are very, very wealthy already – saved more than a million bucks each in 2011 thanks to the Bush tax cuts.

CEO of ConocoPhillips, James Mulva, alone saved $6.7 million thanks to the Bush tax cuts last year.

So now we can get a read on the new Romney/Ryan campaign slogan: “Vote Romney/Ryan – helping the rich get richer since 2001.”

Comments

Tahuyaman
Tahuyaman's picture
If the "Bush tax cuts" are

If the "Bush tax cuts" are still the wrong thing to do, why is the Obama administration extending those tax cuts?  

Personally, I don't care how much money people earn working in the private sector.  I also don't give a hoot about how much money they saved because of tax rate cuts.  They earned the money, not the government.

pshakkottai
pshakkottai's picture
Tax cuts are ALWAYS good. The

Tax cuts are ALWAYS good. The private sector needs money whereas the govt DOES NOT especially a monetarily sovereign govt like USA which can create all the money required (once the nonsensical debt ceiling is eliminated). Tax cuts at the lower end will be more useful because it will be spent quickly ensuring job creation.

"Why starve the economy to feed the government?

Federal spending sends dollars into the economy. Federal taxes take dollars out of the economy. When federal spending exceeds taxes, more dollars go into the economy than come out. This is the government’s deficit and the economy’s profit." from

http://rodgermmitchell.wordpress.com/2012/08/10/why-starve-the-economy-to-feed-the-governement/

Dr. Econ
Dr. Econ's picture
Tahuyaman wrote: If the "Bush

Tahuyaman wrote:

If the "Bush tax cuts" are still the wrong thing to do, why is the Obama administration extending those tax cuts?  

Were you born yesterday?

Tahuyaman wrote:
Personally, I don't care how much money people earn working in the private sector.  I also don't give a hoot about how much money they saved because of tax rate cuts.  They earned the money, not the government.

I think the point is what the bennefit and costs of cutting taxes were. The bennefit:  a gaggle of millionares. The cost: a huge deficit that threatens the financial stability of the government.  Now, the only responsible course of action would be to cut spending, then cut taxes.

Tahuyaman
Tahuyaman's picture
and again, if the Bush tax

and again, if the Bush tax cuts   (which now are the Obama tax cuts)   were the wrong thing to do, why does Obama support extending them?

I suspect I won't get an honest answer to that one.  I know the answer, I just want to see if any of you have the courage to admit the truth here.

polycarp2
From above: and again, if

From above:

and again, if the Bush tax cuts   (which now are the Obama tax cuts)   were the wrong thing to do, why does Obama support extending them?

I suspect I won't get an honest answer to that one.  I know the answer, I just want to see if any of you have the courage to admit the truth here.

Poly replies: Probably because Obama (economically) is a neo-liberal twit just like his opponents.

QUOTE: "In every dimension as president Barack Obama has proven himself a loyal servant of the global ruling class—bankers, corporate CEOs and oil and gas industry executives, against the rest of humanity. And through his faux-populist rhetoric and crude-materialist presence (black Democrat) he has been able to promote ruling class interests more effectively than conspicuous aristocrats like Mitt Romney could hope to. More to the point, as a trained technocrat, Mr. Obama can avoid the overreach of crude ideologues like Paul Ryan by knowing exactly who his benefactors are. (Mr. Ryan would hit a brick wall thirty seconds into trying to cut the government programs that the ruling class feeds off of. Mr. Obama will stick to de-funding only those who lack social power)." - Rob Urie

Full article here: http://www.counterpunch.org/2012/08/17/meet-barack-obama/

Retired Monk - "Ideology is a disease"

Tahuyaman
Tahuyaman's picture
Here's the question again.

Here's the question again.  I'll give you people a bit more time to develop an actual serious answer.

 if the Bush tax cuts   (which now are the Obama tax cuts)   were the wrong thing to do, why does Obama support extending them?

Try to make it a serious answer.  But keep in mind, I know the real reason he supports extending the current tax rates, frequently called the "Bush Tax Cuts".

Bush_Wacker
Bush_Wacker's picture
Tahuyaman wrote: Here's the

Tahuyaman wrote:

Here's the question again.  I'll give you people a bit more time to develop an actual serious answer.

 if the Bush tax cuts   (which now are the Obama tax cuts)   were the wrong thing to do, why does Obama support extending them?

Try to make it a serious answer.  But keep in mind, I know the real reason he supports extending the current tax rates, frequently called the "Bush Tax Cuts".

People are ignoring your question because only a real idiot would not know why Obama extended them.  He extended them because the repubs in charge after November of 2010 said he had to extend them or they were going to raise everybody else's taxes and cut off unemployment benefits.  Many of the Democrats in Washington were pretty pissed off about it at the time.  Personally, I think he should have called their bluff and not allowed them to be extended. 

Tahuyaman
Tahuyaman's picture
Bush_Wacker wrote: Tahuyaman

Bush_Wacker wrote:

Tahuyaman wrote:

Here's the question again.  I'll give you people a bit more time to develop an actual serious answer.

 if the Bush tax cuts   (which now are the Obama tax cuts)   were the wrong thing to do, why does Obama support extending them?

Try to make it a serious answer.  But keep in mind, I know the real reason he supports extending the current tax rates, frequently called the "Bush Tax Cuts".

People are ignoring your question because only a real idiot would not know why Obama extended them.  He extended them because the repubs in charge after November of 2010 said he had to extend them or they were going to raise everybody else's taxes and cut off unemployment benefits.  Many of the Democrats in Washington were pretty pissed off about it at the time.  Personally, I think he should have called their bluff and not allowed them to be extended. 

Seeing that you have no idea why the administration supports exting the current tax rates you have exposed yourself.

The reason Obama wants to extend the tax rates is simple economics.  Even he knows that our economy is floundering right now and any tax increase would send us into another deep recession.  You see, the "Bush tax cuts" are no longer simply tax cuts.  They are the current tax rates.  Any increase in the current tax rates will be devestating to our very fragile economy.

He especially doesn't want to raise taxes and send us into a deep recession during a campaign.  He would lose his bid for reelection in a historic landslide.

anonymous green
Tahuyaman wrote: Any increase

Tahuyaman wrote:

Any increase in the current tax rates will be devestating to our very fragile economy.

What a joke your philosophies have become.

The rich are swollen with America's ex-surplus, handed to them in a fascist coup by Bush.

Raising their taxes, and raising the inheritance tax will take it all back and build our surplus again.

Anyone who disagrees with this is a fool, or working to protect their own stash, or paid to protect someone else's stash.

It's about the inheritance tax. The death tax. No deductions without a pulse.

Tahuyaman
Tahuyaman's picture
anonymous green

anonymous green wrote:

Tahuyaman wrote:

Any increase in the current tax rates will be devestating to our very fragile economy.

What a joke your philosophies have become.

The rich are swollen with America's ex-surplus, handed to them in a fascist coup by Bush.

Raising their taxes, and raising the inheritance tax will take it all back and build our surplus again.

Anyone who disagrees with this is a fool, or working to protect their own stash, or paid to protect someone else's stash.

It's about the inheritance tax. The death tax. No deductions without a pulse.

 

And you say my philosophies are a joke?  That's the proverbial "pot vs kettle" moment.

Tahuyaman
Tahuyaman's picture
anonymous green

anonymous green wrote:

Raising their taxes, and raising the inheritance tax will take it all back and build our surplus again.

 

You could confiscate 100% of the wealth of the top 10 or 20% and fund the government for a couple of weeks.  Once you confiscate all their wealth, it's gone.  They aren't going to make any more if they know it will be taken away at confiscatory rates.

The inheretence tax should be eliminated.  That money has already been taxed several times. 

 Liberals are greedy.  Their thirst for confiscating the wealth of others can never be satisfied.

Dr. Econ
Dr. Econ's picture
Tahuyaman wrote: Bush_Wacker

Tahuyaman wrote:

Bush_Wacker wrote:

Tahuyaman wrote:

Here's the question again.  I'll give you people a bit more time to develop an actual serious answer.

 if the Bush tax cuts   (which now are the Obama tax cuts)   were the wrong thing to do, why does Obama support extending them?

Try to make it a serious answer.  But keep in mind, I know the real reason he supports extending the current tax rates, frequently called the "Bush Tax Cuts".

People are ignoring your question because only a real idiot would not know why Obama extended them.  He extended them because the repubs in charge after November of 2010 said he had to extend them or they were going to raise everybody else's taxes and cut off unemployment benefits.  Many of the Democrats in Washington were pretty pissed off about it at the time.  Personally, I think he should have called their bluff and not allowed them to be extended. 

Seeing that you have no idea why the administration supports exting the current tax rates you have exposed yourself.

He TOLD YOU EXACLTY WHY the administration supported the existing tax rates - because of political negotiation.

If you were old enough to read the news then, you would know that by now.

Can we go back to LysanderSpooner or Jrod? You are a moron, I can't handle it.

Tahuyaman
Tahuyaman's picture
Dr. Econ wrote: Tahuyaman

Dr. Econ wrote:

Tahuyaman wrote:

Bush_Wacker wrote:

Tahuyaman wrote:

Here's the question again.  I'll give you people a bit more time to develop an actual serious answer.

 if the Bush tax cuts   (which now are the Obama tax cuts)   were the wrong thing to do, why does Obama support extending them?

Try to make it a serious answer.  But keep in mind, I know the real reason he supports extending the current tax rates, frequently called the "Bush Tax Cuts".

People are ignoring your question because only a real idiot would not know why Obama extended them.  He extended them because the repubs in charge after November of 2010 said he had to extend them or they were going to raise everybody else's taxes and cut off unemployment benefits.  Many of the Democrats in Washington were pretty pissed off about it at the time.  Personally, I think he should have called their bluff and not allowed them to be extended. 

Seeing that you have no idea why the administration supports exting the current tax rates you have exposed yourself.

He TOLD YOU EXACLTY WHY the administration supported the existing tax rates - because of political negotiation.

If you were old enough to read the news then, you would know that by now.

Can we go back to LysanderSpooner or Jrod? You are a moron, I can't handle it.

 

No, he gave me his uniformed opinion.  I gave him the truth.

Bush_Wacker
Bush_Wacker's picture
Tahuyaman wrote: Dr. Econ

Tahuyaman wrote:

Dr. Econ wrote:

Tahuyaman wrote:

Bush_Wacker wrote:

Tahuyaman wrote:

Here's the question again.  I'll give you people a bit more time to develop an actual serious answer.

 if the Bush tax cuts   (which now are the Obama tax cuts)   were the wrong thing to do, why does Obama support extending them?

Try to make it a serious answer.  But keep in mind, I know the real reason he supports extending the current tax rates, frequently called the "Bush Tax Cuts".

People are ignoring your question because only a real idiot would not know why Obama extended them.  He extended them because the repubs in charge after November of 2010 said he had to extend them or they were going to raise everybody else's taxes and cut off unemployment benefits.  Many of the Democrats in Washington were pretty pissed off about it at the time.  Personally, I think he should have called their bluff and not allowed them to be extended. 

Seeing that you have no idea why the administration supports exting the current tax rates you have exposed yourself.

He TOLD YOU EXACLTY WHY the administration supported the existing tax rates - because of political negotiation.

If you were old enough to read the news then, you would know that by now.

Can we go back to LysanderSpooner or Jrod? You are a moron, I can't handle it.

 

No, he gave me his uniformed opinion.  I gave him the truth.

That was a fact, not an opinion.  Is it just my opinion tha Obama is President?  If you are going to debate on this forum you had better at least know a little bit of recent political history.  Otherwise you will rightfully be labeled a troll.  Troll on young man.

Mauiman2
Mauiman2's picture
anonymous green

anonymous green wrote:

Tahuyaman wrote:

Any increase in the current tax rates will be devestating to our very fragile economy.

What a joke your philosophies have become.

The rich are swollen with America's ex-surplus, handed to them in a fascist coup by Bush.

Raising their taxes, and raising the inheritance tax will take it all back and build our surplus again.

Anyone who disagrees with this is a fool, or working to protect their own stash, or paid to protect someone else's stash.

It's about the inheritance tax. The death tax. No deductions without a pulse.

Class warfare at its finest!  When will you realize that this mess we are in will never be solved on the revenue side?  Oh wait, you are the person who accused Chevron of arson without even a trace of evidence. Like I said your idas have as much value as your credibility, ZERO!

 

Tahuyaman
Tahuyaman's picture
Bush_Wacker wrote: Tahuyaman

Bush_Wacker wrote:

Tahuyaman wrote:

Dr. Econ wrote:

Tahuyaman wrote:

Bush_Wacker wrote:

Tahuyaman wrote:

Here's the question again.  I'll give you people a bit more time to develop an actual serious answer.

 if the Bush tax cuts   (which now are the Obama tax cuts)   were the wrong thing to do, why does Obama support extending them?

Try to make it a serious answer.  But keep in mind, I know the real reason he supports extending the current tax rates, frequently called the "Bush Tax Cuts".

People are ignoring your question because only a real idiot would not know why Obama extended them.  He extended them because the repubs in charge after November of 2010 said he had to extend them or they were going to raise everybody else's taxes and cut off unemployment benefits.  Many of the Democrats in Washington were pretty pissed off about it at the time.  Personally, I think he should have called their bluff and not allowed them to be extended. 

Seeing that you have no idea why the administration supports exting the current tax rates you have exposed yourself.

He TOLD YOU EXACLTY WHY the administration supported the existing tax rates - because of political negotiation.

If you were old enough to read the news then, you would know that by now.

Can we go back to LysanderSpooner or Jrod? You are a moron, I can't handle it.

 

No, he gave me his uniformed opinion.  I gave him the truth.

That was a fact, not an opinion.  Is it just my opinion tha Obama is President?  If you are going to debate on this forum you had better at least know a little bit of recent political history.  Otherwise you will rightfully be labeled a troll.  Troll on young man.

Earth to Bush-Whacker, earth to Bush-Whacker, Come in Bush-Whacker!

anonymous green
Mauiman2 wrote:   Class

Mauiman2 wrote:

 

Class warfare at its finest!  When will you realize that this mess we are in will never be solved on the revenue side?  Oh wait, you are the person who accused Chevron of arson without even a trace of evidence. Like I said your idas have as much value as your credibility, ZERO!

 

I'm upper class you pretentious clown.

My family ran the planet, from the CIA, so put up or shut up, and kiss my ass also.

I said arson by negligence, to fix prices in a spike formation, to choke the Nation, and its President, to shake the very foundations of Liberty.

So what?

Tahuyaman
Tahuyaman's picture
anonymous green

anonymous green wrote:

Mauiman2 wrote:

 

Class warfare at its finest!  When will you realize that this mess we are in will never be solved on the revenue side?  Oh wait, you are the person who accused Chevron of arson without even a trace of evidence. Like I said your idas have as much value as your credibility, ZERO!

 

I'm upper class you pretentious clown.

Wow, your house must be a double wide with slide-outs huh?

stefanitza27
stefanitza27's picture
The federal government needs

The federal government needs a surplus, like the scoreboard needs its points back from the players...

Bush_Wacker
Bush_Wacker's picture
Tahuyaman wrote: Bush_Wacker

Tahuyaman wrote:

Bush_Wacker wrote:

Tahuyaman wrote:

Dr. Econ wrote:

Tahuyaman wrote:

Bush_Wacker wrote:

Tahuyaman wrote:

Here's the question again.  I'll give you people a bit more time to develop an actual serious answer.

 if the Bush tax cuts   (which now are the Obama tax cuts)   were the wrong thing to do, why does Obama support extending them?

Try to make it a serious answer.  But keep in mind, I know the real reason he supports extending the current tax rates, frequently called the "Bush Tax Cuts".

People are ignoring your question because only a real idiot would not know why Obama extended them.  He extended them because the repubs in charge after November of 2010 said he had to extend them or they were going to raise everybody else's taxes and cut off unemployment benefits.  Many of the Democrats in Washington were pretty pissed off about it at the time.  Personally, I think he should have called their bluff and not allowed them to be extended. 

Seeing that you have no idea why the administration supports exting the current tax rates you have exposed yourself.

He TOLD YOU EXACLTY WHY the administration supported the existing tax rates - because of political negotiation.

If you were old enough to read the news then, you would know that by now.

Can we go back to LysanderSpooner or Jrod? You are a moron, I can't handle it.

 

No, he gave me his uniformed opinion.  I gave him the truth.

That was a fact, not an opinion.  Is it just my opinion tha Obama is President?  If you are going to debate on this forum you had better at least know a little bit of recent political history.  Otherwise you will rightfully be labeled a troll.  Troll on young man.

Earth to Bush-Whacker, earth to Bush-Whacker, Come in Bush-Whacker!

For the dipsticks out there that don't follow politics and only repeat Republican rhetoric.

"Economists from all across the political spectrum believe giving tax cuts to millionaires and billionaires does very little to grow our economy."

But he said that he felt he had no option but to swallow that element in order to loosen the Republican stranglehold which would have seen two million Americans lose their unemployment benefits by the end of this month and millions more face rising taxes.

"What is abundantly clear to everybody in this town is that the Republicans will block a permanent tax cut for the middle class unless they also get a permanent tax cut for the wealthiest Americans."

http://www.guardian.co.uk/world/2010/dec/06/barack-obama-bush-tax-cuts

 

chilidog
Tahuyaman wrote: You could

Tahuyaman wrote:

You could confiscate 100% of the wealth of the top 10 or 20% and fund the government for a couple of weeks. 

How do you figure?

I think you're getting your right-wing talking points mixed up.

Dr. Econ
Dr. Econ's picture
chilidog wrote: Tahuyaman

chilidog wrote:

Tahuyaman wrote:

You could confiscate 100% of the wealth of the top 10 or 20% and fund the government for a couple of weeks. 

How do you figure?

I think you're getting your right-wing talking points mixed up.

Wouldn't the top 20% own 99% of the nation's wealth, which - in 2008 was 118 trillion. The government spends 3.5 trillion, so that's 33 years, not a 'couple of weeks'.

Ah, the exuberance of youth!