boards of FL wrote:nochain wrote:125,000 NET jobs have been added in BHOs first term and the only reason this occurred is because of a “very quiet” BLS revised benchmark.
Crappy, right? What is your take on Bush's term and job creation during that period?
The Clinton Dot.Com recession began in March of 2000. If you recall, we also had a massive terrorist attack on 9/11/2001 which further crippled the economy and plunged us deeper into recession. UNEMPLOYMENT REACHED 6% before the Bush tax cuts went into effect and brought DOWN unemployment to 4.6% in 2006 and 2007 before the Democrat driven Housing/Mortgage/Financial meltdown led to this current crisis.
The DEBT over the eight years of the Bush Administration increased by $4.4 TRILLION. That’s FAR less than the damage done by the Democrats since Nancy Pelosi took over the House in 2007.
What happened when the "tax cuts you revile so much were implemented?
Revenues to IRS AVERAGED $1.875 TRILLION during Bush's first 3 years in office, before the BUSH TAX CUTS took effect. Gee...that's nearly President Barack Hussein Obama $1.3 TRILLION DEFICIT each year since Obama took office.
AFTER the BUSH TAX CUTS TOOK EFFECT, REVENUES AVERAGED $2.306 TRILLION his last FIVE years. That's $431 BILLION more per year or $2.155 TRILLION increase over five years.
WOW…how did that happen? They resulted in a $2.155 TRILLION INCREASE IN REVENUES?
The Top 1% already pay 39% of all income taxes, UP 2% from 37% in 2000 when President Bush took office.
The top 25% of income earners pay 86% of all federal income taxes. That is UP from 84% in 2000 prior to the Bush Tax cuts.
The Top 50% pay 97% of all income taxes
From the Wall Street Journal “In 1980, when the top income tax rate was 70%, the richest 1% paid only 19% of all income taxes; now, with a top rate of 35%, they pay more than double that share.”
FORTY NINE PERCENT of households paid NO INCOME TAXES in 2010.
Do yourself a favor and do even a bit of research on the Laffer Curve.
How much more do you want to punish those who produce and provide in order to reward those who…do not?