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After the Bush tax cuts that were extended we should be ass deep in jobs. What happened???
They're not gonna want to talk about the fact that the country went through the largest economic disaster in 80 years less than a decade after Bush implemented his tax cuts. It's an inconvenient fact that interferes with making the continuous mindless assertion that the sole solution to all economic problems is to tax the rich less. Nothing will stop the cutting taxes assertion from being the underpinning of all republican economic argument. In fact, it is their only argument, and it has been for years. They just don't get that it doesn't work, and it never has.
Ahhhhh, people who don't know history. In 1921 the US made one of the biggest comebacks from one of the biggest economic collapses in our history under Calvin Coolidge. Eight years later, 1929, Black Friday, the stock market collapse, and the Great Depression. According to your logic that comeback caused the Great Depression.
The Bush tax cuts (later called the Obama tax cuts for the rich) created economic opportunity and put money back in the pockets of everyone who actually paid federal taxes. How much depended on how much you earned. Now the collapse came when the Fannie and Freddie collapsed and the housing bubble burst. Why did it burst? Poor federal, liberal, democratic policies dating back to 1977 and Jimmy Carter. We even have congressional rope sucker Barney Franks in July of 2008 saying that F & F were safe and sound. Nothing supports what you say Ms. Page.
They're not gonna want to talk about the fact that the country went through the largest economic disaster in 80 years less than a decade after Bush implemented his tax cuts. It's an inconvenient fact that interferes with making the continuous mindless assertion that the sole solution to all economic problems is to tax the rich less. Nothing will stop the cutting taxes assertion from being the underpinning of all republican economic argument. In fact, it is their only argument, and it has been for years. They just don't get that it doesn't work, and it never has.
Quote:
Originally Posted by JD Barleycorn
. . . the collapse came when the Fannie and Freddie collapsed and the housing bubble burst. Why did it burst? Poor federal, liberal, democratic policies dating back to 1977 and Jimmy Carter. We even have congressional rope sucker Barney Franks in July of 2008 saying that F & F were safe and sound. Nothing supports what you say Ms. Page.
+1 This reiteration is for Little Timmy and txrancher1's edification since they obviously still fail to cognitively grasp what happened in 2008 and its real origin.
+1 This reiteration is for Little Timmy and txrancher1's edification since they obviously still fail to cognitively grasp what happened in 2008 and its real origin.
in 02 W is recorded asking Fannie for 5 million minority home loans ... FACT
the banks got greedy and decided to tailor home loans to suit the buyer regardless if buyers could afford the home, conventional loans went out the window along with credit history and the ability to pay for the loan .. FACT
JD, I should correct my statements, cutting taxes too much is not good. I notice in your example of tax cuts you made no mention of the Bush tax cuts which Obama extended. These tax cuts brought us to the point in history of record lows for big business and corporations. The Bush tax cuts went way too far so you omitted them from your list of examples. Also, David Stockman, the author of Reagan's supply side theory, rejects that theory today!
JD, I should correct my statements, cutting taxes too much is not good. I notice in your example of tax cuts you made no mention of the Bush tax cuts which Obama extended. These tax cuts brought us to the point in history of record lows for big business and corporations. The Bush tax cuts went way too far so you omitted them from your list of examples. Also, David Stockman, the author of Reagan's supply side theory, rejects that theory today!
if you think you'll get the facts about the long term results of the tax cuts from any rightwinger, think again.
in 02 W is recorded asking Fannie for 5 million minority home loans ... FACT
the banks got greedy and decided to tailor home loans to suit the buyer regardless if buyers could afford the home, conventional loans went out the window along with credit history and the ability to pay for the loan .. FACT
end of housing boom
FACT: Subprime loans were well established and being utilized during Slick Willie the Perjuring Sexual Predator's term in office. FACT: Slick Willie the Perjuring Sexual Predator, advised by his Dimotard Secretary of Treasury Larry Summers, signed the Financial Services Modernization Act of 1999 which effectively neutered the Glass-Steagall Act of 1922; thus, giving rise to the financially unsound derivatives market that exacerbated the financial melt down. BTW, Bush warned the Dimotards in Congress, but they ignored his warnings.
FACT: Subprime loans were well established and being utilized during Slick Willie the Perjuring Sexual Predator's term in office. FACT: Slick Wille the Perjuring Sexual Predator, advised by his Dimotard Secretary of Treasury Larry Summers, signed the Financial Services Modernization Act of 1999 which effectively neutered the Glass-Steagall Act of 1922; thus, giving rise to the financially unsound derivatives market that exacerbated the financial melt down. BTW, Bush warned the Dimotards in Congress, but they ignored his warnings.
nothing exacerbated the financial melt down, the Government let Lehman Bros go down the tubes and AIG insured the rest of the big banks as a hedge just in case one of them failed ... AIG owed so much money to cover policies held by all the major banks they would have went down too and took the world economy with them.
I posted the link to the 55 minute vid that explained the bank bailouts, you along with the rest of the Clinton crowd were too stupid to educate yourselves and watch it.
you are as uninformed about the entire situation as I am tired fucking with idiots like you.
The conservatives on here are totaling unwilling and unable to explain why the Bush tax cuts were a huge factor in bringing our economy to its knees before Bush left office. I don't understand how a total collapse happened because as they claim....tax cuts spur economic growth! They live in a bubble make believe world devoid of reality. They really need to read David Stockman's book about tax cuts, but of course they won't because they'd rather live in a fantasy world.
The conservatives on here are totaling unwilling and unable to explain why the Bush tax cuts were a huge factor in bringing our economy to its knees before Bush left office. I don't understand how a total collapse happened because as they claim....tax cuts spur economic growth! They live in a bubble make believe world devoid of reality. They really need to read David Stockman's book about tax cuts, but of course they won't because they'd rather live in a fantasy world.
they're also unable to explain why the Byrd Act was implemented BY LAW to a piece of legislation the created soooooooo much revenue ..
