Originally posted by GGG Gloveking
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Originally posted by lex_fugitive View PostThis is from Bruce Bartlett, Reagan's economic advisor.
Are you saying this is not the Romer-Bernstein chart (or not an accurate representation of)?
If it's not, I'll get the correct one.
Or you can concede that claim Obama saved the economy (or whatever of the like you said), and we can move on to the rest.
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Following the tax cuts in 1981, and again in 1986, economic growth DECLINED. When Clinton raised taxes on the rich, the economy was the strongest it has been in recent memory. When Bush slashed taxes and regulations in 2001, 2003, and 2004 it produced the slowest economic growth in this country's history. When Obama raised taxes on the rich with Obamacare, the economy kept growing, kept adding jobs. When Obama raised taxes again in 2014 on the rich, the economy has continued to grow.
Literally, every time we have slashed taxes, it has slowed economic growth.
From 1944 to 1964 the federal income tax rate for the top bracket was over 90%. From 1965 to 1982 this rate was 70% (tax foundation). From 1942 to 1974 the corporate tax rate was at least 48% for all profits over $25,000 in a year (tax foundation).
The period from 1945 to the early 1970’s is known as “The Golden Age of Capitalism.” Richard Reich describes this period in his book “Supercapitalism”:
“Roughly between 1945 and 1975, America struck a remarkable accommodation between capitalism and democracy. It combined a hugely productive economic system with a broadly responsive and widely admired political system. America in those years achieved its highest degree of income equality (since measurements have been available). It generated a larger proportion of good-paying jobs than before or since, and more economic security than ever for more of its people. Perhaps not coincidentally, in those years Americans also expressed high confidence in democracy and trust in government, both of which sharply declined in subsequent years.”
http://www.npr.org/2007/10/02/148487...upercapitalism
http://taxfoundation.org/article/fed...ears-1909-2012
http://taxfoundation.org/sites/defau...ry_nominal.pdf
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Originally posted by GGG Gloveking View PostThis is why I always like to text my son's mother. When she says, I never said that, a simple screenshot proves her wrong
These knuckleheads do it to 'win' Internet arguments.
Big difference.
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Originally posted by lex_fugitive View PostFollowing the tax cuts in 1981, and again in 1986, economic growth DECLINED. When Clinton raised taxes on the rich, the economy was the strongest it has been in recent memory. When Bush slashed taxes and regulations in 2001, 2003, and 2004 it produced the slowest economic growth in this country's history. When Obama raised taxes on the rich with Obamacare, the economy kept growing, kept adding jobs. When Obama raised taxes again in 2014 on the rich, the economy has continued to grow.
Literally, every time we have slashed taxes, it has slowed economic growth.
You left out the Clinton Cap Gain tax cuts. You know, those tax cuts for "the rich" as the rich own a lion's share of the stocks.
You not only left those out, you left out the fact that they spurred economic growth to higher levels after their passage than after the Clinton tax increases.
Can you please address that crucial part you left out?
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Originally posted by 1bad65 View PostShe has a motive though. She does it to deceive you, (a parent sharing custody), right?
These knuckleheads do it to 'win' Internet arguments.
Big difference.
But you do have a point. She does have better motivation than simply a web forum debate
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Originally posted by 1bad65 View PostSo we have to stop here.
Are you saying this is not the Romer-Bernstein chart (or not an accurate representation of)?
If it's not, I'll get the correct one.
Or you can concede that claim Obama saved the economy (or whatever of the like you said), and we can move on to the rest.
I am saying following the Bush tax cuts, followed the slowest economic growth in this country's history.
BUT I'M STILL WAITING TO HEAR WHAT THE CURRENT PLAN TO KEEP IRAN FROM DEVELOPING NUCLEAR WEAPONS IS TOO
I get it, when presented with FACTS want to end it. Talk facts idiot.
Look up income growth since 1980. The bottom 80 percent is the same with inflation taken into account. The top 1 percent have seen a roughly 300 percent gain in their income. That is what tax cuts for the rich, and less regulations have produced.
But I get it, you can not handle facts, so you just ignore them.
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Originally posted by 1bad65 View PostLet's stop right here, because you are either being intellectually dishonest (by omission) or you're repeating talking points that are cherry-picked.
You left out the Clinton Cap Gain tax cuts. You know, those tax cuts for "the rich" as the rich own a lion's share of the stocks.
You not only left those out, you left out the fact that they spurred economic growth to higher levels after their passage than after the Clinton tax increases.
Can you please address that crucial part you left out?
From 1942 to 1974 the corporate tax rate was at least 48% for all profits over $25,000 in a year (tax foundation).
The period from 1945 to the early 1970’s is known as “The Golden Age of Capitalism.” Richard Reich describes this period in his book “Supercapitalism”:
“Roughly between 1945 and 1975, America struck a remarkable accommodation between capitalism and democracy. It combined a hugely productive economic system with a broadly responsive and widely admired political system. America in those years achieved its highest degree of income equality (since measurements have been available). It generated a larger proportion of good-paying jobs than before or since, and more economic security than ever for more of its people. Perhaps not coincidentally, in those years Americans also expressed high confidence in democracy and trust in government, both of which sharply declined in subsequent years.”
http://www.npr.org/2007/10/02/148487...upercapitalism
http://taxfoundation.org/article/fed...ears-1909-2012
http://taxfoundation.org/sites/defau...ry_nominal.pdf
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