Let the economy resume

Gonz

Gonz

molṑn labé
Staff member
The Republican-controlled Congress pushed through a sweeping six-year, $350 billion package of tax cuts and state aid Friday, sealing a narrow partisan victory for President Bush that will put extra cash in Americans' wallets while driving federal deficits to record highs.
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Highlights

Eliminates marriage penalty

Boosts child tax credit by $400-with a refund being sent in July for '03

Small business write off goes from $25k to $100k

Capital Gains down to 20%

Dividends down to 15% for the top two tiers & 5% for the rest of us

Top marginal rate down to 35% from 39.6% still up from Reagans 28%.

The House of Representatives voted 231-220 for the bill at nearly 2 a.m. EDT Friday. The Senate followed at midmorning with a 51-50 vote that required Vice President Dick Cheney to break a tie.
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When the economy gets running again, the income from additional workforce will place us back on track. We've grown ourselves out of this situation before, unfortunately those in DC forgot to add the less spending part to the equation.
 
Raise your hand if you think 350 billion is going to move such a massive economy.
Have you ever tried to push an ocean liner out to sea?
 
Gonz, you're out to lunch if you think this will help the economy in any significant way. Trickle down is just plain ridiculous...... The people are just beginning to lose confidence to spend. We have some tough times in the very near future.....But if Rush told you different, don't listen to anything I'm saying....
 
Reagan doubled the revenues collected by the US. Congress almost ruined it.

JFK cut taxes from 90%-70% & the economy grew.

RR cuts taxes from 70%-28% & the economy almost doubled & actually multifolded in the following 10 years.

Dubya cut taxes & the recession failed to materialize.

Dubya cut them again & we'll now have prosperity.(hopefully)

Congress spends & spends & spends, that is what causes deficits.
 
Squiggy said:
Reagen almost destroyed us with it...When are you refering to?
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More fun with stats to support my position

Public debt following Reagans tax cut.

09/30/1988-$2,602,337,712,041.16
09/30/1987-$2,350,276,890,953.00

9.7% growth during Reagans final two years, following the 1986 tax cut.

Bush I:
09/30/1991-$3,665,303,351,697.03 A 29% increase.

WJC:
09/30/1999-$5,656,270,901,615.43 A 36.2% increase

Dubya:
05/22/2003-$6,460,406,169,833.02...A 12.5% increase & this is with the attacks on NY & DC.

Hmmmm, Bush I lied & increased taxes. Clinton increased taxes (though he did cut the Capital Gains from 28% to 15%, reluctantly). They have the highest increases. Ronnie had the lowest but in all fairness, while it immediately followed the tax cuts it was for only 2 years. Dubya, having to put up with a stalling economy upon becoming President, has done failry well.

What has the 63.7% increase in our public debt had in common? A majority of congress is & was there, all along. Especially Senators. If we could live with a 1,76trillion dollar outlay a few years ago, why the hell do we have to live with 2.5trillion now? Maybe cutting spending would be the way out of this spiraling cycle, especially pork.
 
Use this as perspective:

Understanding a Billion
A billion is a difficult number to comprehend, here's something to help:

A billion seconds ago it was 1959.

A billion minutes ago Jesus was alive.

A billion hours ago our ancestors were living in the Stone Age.

A billion dollars ago was 8 hours and 20 minutes, at the rate Washington spends it.

Now, a billion isn't so big, is it?
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one TRILLION is one thousand billions
 
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