March 8, 200818 yr Ridiculous. Tax cuts never result in recessions and we are not in a recession - not yet at least.
March 8, 200818 yr The tax cuts and tax rebates are being done to stimulate the ecomony in hopes of forestalling a recession and are not the reason a recession will/could occur.
March 8, 200818 yr No recession yet, tax cuts are meant to stave that off. Bush bashers will say otherwise, though.
March 8, 200818 yr Author No recession yet, tax cuts are meant to stave that off. Bush bashers will say otherwise, though. Why are his economic policies not at least partially at fault for the economic downturn. Can you completely ignore them? How do we lose jobs in February if the tax cuts of several years ago were meant to create them? How does our borrowing from foreign countries not have an impact on the value of our dollar compared to the "dollar" of the lendin nations? How has the revenue downtown for local, statge, and federal governments not been at least partially attributed to tax cuts. I thought more revenue was to be generated by the tax cuts. Cost of groceries are higher, tuition is higher, energy prices higher, income LOWER - and one talks about current economic policies
March 8, 200818 yr Lots of things play into the downturn: People buying larger houses than they could afford. Ethanol production driving up the price for corn. A society that believes in personal deficit spending, especially in the form of high interest credit cards. Out of control government spending, 9 trillion dollars worth on the federal level. Could go on and on with this, but... You can blame any or all of this on George Bush's policies. How in the world do you blame any of this on tax cuts?
March 8, 200818 yr Is there an official point where we enter a recession? FWIW, Warren Buffet says we're clearly in a recession.
March 8, 200818 yr Author Is there an official point where we enter a recession? FWIW, Warren Buffet says we're clearly in a recession. 2 quarters of negative economic growth - what I read this morning.
March 8, 200818 yr Why are his economic policies not at least partially at fault for the economic downturn. Can you completely ignore them? How do we lose jobs in February if the tax cuts of several years ago were meant to create them? How does our borrowing from foreign countries not have an impact on the value of our dollar compared to the "dollar" of the lendin nations? How has the revenue downtown for local, statge, and federal governments not been at least partially attributed to tax cuts. I thought more revenue was to be generated by the tax cuts. Cost of groceries are higher, tuition is higher, energy prices higher, income LOWER - and one talks about current economic policies Nobody said that economic policies have no impact on the economy. The failure of Congress to approve a common sense energy policy that has prevented the oil industry from tapping into our own reserves has had a very detrimental impact. So has out of control government spending, which the current Democratic presidential candidates promise to make worse. (I believe that McCain will also throw gasoline onto the fire, just at a slower rate.) Bush does deserve some blame for refusing to use his veto pen to control spending while Republicans controlled Congress. He has also not done enough to defend American oil companies against the childish and naive attacks from the left. Oil is our largest and most important import. Skyrocketing oil prices are threatening our entire economic system and driving the value of the dollar down. It is time for somebody to begin educating the public on the real reasons that gasoline prices are threatening to make a shambles of our economy. Increasing the cost of oil by making oil companies into scapegoats and levying even more taxes on them will only make matters worse. The government is the source of most economic problems and as long as socialists control our legislative agenda, we will continue to decline as an economic power.
March 8, 200818 yr Author Lots of things play into the downturn: People buying larger houses than they could afford. Ethanol production driving up the price for corn. A society that believes in personal deficit spending, especially in the form of high interest credit cards. Out of control government spending, 9 trillion dollars worth on the federal level. Could go on and on with this, but... You can blame any or all of this on George Bush's policies. How in the world do you blame any of this on tax cuts? When you cut taxes, you reduce revenue to the federal government who then has to borrow money to keep essential services going. You then have to raise the cost of goods, like tuition.
March 8, 200818 yr When you cut taxes, you reduce revenue to the federal government who then has to borrow money to keep essential services going. You then have to raise the cost of goods, like tuition. Tuition costs have far outstripped the overall rate of inflation. Government borrowing does not explain away that fact. Public education is a government product and its cost is not subject to the same cost constraints as goods and services produced by the private sector. Tax increases result in more government spending. Had the Democrats been successful in repealing the Bush tax cuts, the economic decline would have begun much earlier. Why do you believe that Democrats have toned down their calls for ending the tax cuts and even signed on to the so-called stimulus package, which will have a similar positive impact on the economy? Heavy government spending and aggressive taxation are the enemies of a strong economy. We cannot have both.
March 8, 200818 yr Author Tuition costs have far outstripped the overall rate of inflation. Government borrowing does not explain away that fact. Public education is a government product and its cost is not subject to the same cost constraints as goods and services produced by the private sector. Tax increases result in more government spending. Had the Democrats been successful in repealing the Bush tax cuts, the economic decline would have begun much earlier. Why do you believe that Democrats have toned down their calls for ending the tax cuts and even signed on to the so-called stimulus package, which will have a similar positive impact on the economy? Heavy government spending and aggressive taxation are the enemies of a strong economy. We cannot have both. Why did the Clinton economic strategy perform so well? Socialists, from an earlier post, have not been in control of the government. Republicans controlled both the Executive and legislative branches until 2006. I would venture to say those are not socialist people
March 8, 200818 yr Why did the Clinton economic strategy perform so well? Socialists, from an earlier post, have not been in control of the government. Republicans controlled both the Executive and legislative branches until 2006. I would venture to say those are not socialist people During those two years, Republicans joined with Democrats to continue spending on socialist programs and at the same rate as their Democratic colleagues. The size of the Department of Education, for example, has increased by more than two-fold under the Bush administration and with Republicans controlling Congress for a brief period. Has it ever occurred to you that the economy might have done even better during the Clinton years had he not raised taxes after promising a middle class tax cut during his campaign? The fact that the economy grew in the face of tax increases does not mean that the economy grew because of tax increases. Do you know of any reputable economist who advocates increasing taxes to counteract a recession?
March 8, 200818 yr Why are his economic policies not at least partially at fault for the economic downturn. Can you completely ignore them? How do we lose jobs in February if the tax cuts of several years ago were meant to create them? How does our borrowing from foreign countries not have an impact on the value of our dollar compared to the "dollar" of the lendin nations? How has the revenue downtown for local, statge, and federal governments not been at least partially attributed to tax cuts. I thought more revenue was to be generated by the tax cuts. Cost of groceries are higher, tuition is higher, energy prices higher, income LOWER - and one talks about current economic policies We lose jobs because more US manufacturing jobs are going over seas to so-called low cost countries. The Bush administration has no control over this. This was a trend that was starting during the Clinton years, and just kept gaining momentum. It's not Clinton's fault, either. Any idiot knows that there will always be highs and lows in economic cycles. To expect to be on an up cycle constantly just shows how ignorant the "economic experts" really are. Common sense says when things are good, but some extra away for when things are bad. Econ 101, baby.
March 8, 200818 yr When you cut taxes, you reduce revenue to the federal government who then has to borrow money to keep essential services going. You then have to raise the cost of goods, like tuition. A recession is defined by newspaper and magazines as two consecutive quarters of real GDP decline. It is defined by the NBER more broadly as "a significant decline in activity spread across the economy lasting more than a few months, visible in in industrial production, employment, real income, and wholesale-retail trade." A recession is a natural phase of the business cycle and can not be stopped. However, the negative effects of it can be reduced. It is hard to tell if we are actually in a recession now, it looks like we are heading that way (or are in one now) but the unemployment rate actually dropped between January and February (but it is impossible to say if this is due in part to discouraged workers). It is impossible for tax cuts to cause a recession. Why would you raise the cost of goods (like tuition) to make up for tax revenue?
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