Tax Cuts vs. Jobs

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Independent

Jonesboro, AR

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#1
Jan 18, 2013
 

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Tax Cuts vs. Jobs: The Last Three Years
During the first three years of the Bush administration, more than 3 million jobs in the U.S. have disappeared, been destroyed, dismantled, vanished. Not since the early years of the Great Depression of the 1930s has America experienced three consecutive years of net job destruction! Nor has any President since Herbert Hoover faced the prospect of leaving office with the economy having fewer jobs than when he entered.
The Bush recession began in March 2001 and was declared officially over in November 2001, six months later. Two major tax cuts, plus a series of additional corporate tax breaks, were enacted between mid-2001 and 2003 — tax cuts worth $2.1 Trillion — 80% of which went directly to benefit those with incomes over $147,000 a year!
American workers were promised at the time that these tax cuts were the answer to economic recovery and creating new jobs once again. It was Ronald Reagan's old 'trickle down economics' argument, brought out of the closet, dusted off, prepared for public consumption — but larger than ever before! Even a 'trickle' of that, a worker might argue, could produce significant improvements in jobs or wages. And that's not counting some share of the tax cut as well. But let's look at these two 'taxes and jobs' and how workers fared under George Bush the past three years.
To begin with, 84% of all taxpayers have incomes below $75,000. That's the American working class, the largest part of which earn between $40,000 and $50,000, and many more less than that. According to the Urban Institute, the tax cut in 2003 for workers in the $40-$50,000 median range amounted only to $380, and for those in the 50-$75,000 range, only $553.
In both cases, that's less than 1% of their annual income. In fact, with Bush's tax cuts half of all income tax payers had their taxes cut by less than $100. On the other hand, those with annual incomes more than $1 million received an average tax cut of $105,636 from Bush. That's more than 10% of their annual income. So much for benefits to workers from the tax cut. Let's look at jobs.
Independent

Jonesboro, AR

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#2
Jan 18, 2013
 

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Sleight of Hand: The Jobless Recovery
In early 2001, the President's Council of Economic Advisors (CEA) announced that if the first round of Bush's $2.1 trillion tax cuts for the rich were passed quickly, it would result in the creation of 800,000 additional jobs by the end of 2002 due to the tax cut alone.
And, once again, in February 2003 the President's CEA assured that the adoption of a second round of Bush tax cuts would create 1.4 million additional jobs — 510,000 in 2003 and another 891,000 for 2004 — all solely attributable to the tax cuts!
All total, that amounts to a Bush promise of 2.2 million jobs created between 2001 and 2004 as a direct consequence of passage of the $2.1 Trillion tax cuts for the rich!
But three large dollops of handouts for the rich have not stemmed the destruction of jobs. Bush's primary plan for job creationÑtax cutsÑhas proved a dismal failure.
On the other hand, facts have never deterred George the II. True to his 'stay the course' mentality, even when faced with the loss of 3 million jobs, he today continues to propose further tax cuts for the rich. More than seventy years ago it was Herbert Hoover insisting on cutting wages, on behalf of his wealthy backers, as the solution for creating jobs during the Great Depression. Today is it George Bush II insisting on cutting taxes for his wealthy contributors as the single solution for creating jobs in America. For Bush, tax cuts are the only solution to the jobless crisis.
After promising last August 2003 to ask for no additional cuts, Bush has once again gone back to the trough in early 2004 and has requested in his latest budget yet another big cut for his wealthy friends — this time a $1.8 Trillion permanent cut in taxes for the wealthy over the next 10 years.
The long held consensus among economists is that the US economy needs to add a minimum of 150,000 to 200,000 new jobs each month just to absorb new workers entering the work force and keep total joblessness from rising. During the non-recession years of 1993-1999 the average monthly gain in jobs was 250,000. And economists agree that by spring 2004, at this stage of a recovery from the 2001 Bush recession, monthly job creation should be at least at that level.
The Last Six Months: An Aborted Jobs Recovery
During 2003 the US economy needed to produce 150,000 jobs a month, or 1.8 million jobs for the period, just to stay even. Instead, it actually lost 360,000. That's in addition to the 1.8 million new workers entering the economy. For a total shortfall of more than 180,000 jobs a month.
guess who

Ravenden Springs, AR

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#3
Jan 18, 2013
 

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So what the tac cuts didnt increase jobs? the runaway spending hasnt worked also. Your a idiot. Its no republican =bad and democrat= good or vise versa. its democrat+republican= political parasite =bad. Its both partys that share equal blame. The elected officials just wish to line their very own pockets and futhur the UN&NWO agenda. The UN and NWO decided that the majority of productive americans (the So called Middle Class) when viewed from a world wide standpoint has more then their fair share. So Nafta . pollution & workplace laws where gradually & systematically put into place to encourage & force the USA,s manufacturing to be redistributed to other places. Ross Periot was correct the nafta sucked he jobs away. Only gullible sheeple believe there is a viable pollitical choice or ballott box solution. The USA is in decline and raising or lowering Taxes wont change that fact.
yogibear

Jonesboro, AR

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#4
Jan 18, 2013
 

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its the working class that gets screwed. everytime.
Bubba

Pocahontas, AR

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#5
Jan 18, 2013
 

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guess who wrote:
So what the tac cuts didnt increase jobs? the runaway spending hasnt worked also. Your a idiot. Its no republican =bad and democrat= good or vise versa. its democrat+republican= political parasite =bad. Its both partys that share equal blame. The elected officials just wish to line their very own pockets and futhur the UN&NWO agenda. The UN and NWO decided that the majority of productive americans (the So called Middle Class) when viewed from a world wide standpoint has more then their fair share. So Nafta . pollution & workplace laws where gradually & systematically put into place to encourage & force the USA,s manufacturing to be redistributed to other places. Ross Periot was correct the nafta sucked he jobs away. Only gullible sheeple believe there is a viable pollitical choice or ballott box solution. The USA is in decline and raising or lowering Taxes wont change that fact.
Go back to school and learn to spell and punctuate if you want to debate with the big boys. You are the definition of republican moron!
Independent

Jonesboro, AR

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#6
Jan 18, 2013
 
guess who wrote:
So what the tac cuts didnt increase jobs? the runaway spending hasnt worked also. Your a idiot. Its no republican =bad and democrat= good or vise versa. its democrat+republican= political parasite =bad. Its both partys that share equal blame. The elected officials just wish to line their very own pockets and futhur the UN&NWO agenda. The UN and NWO decided that the majority of productive americans (the So called Middle Class) when viewed from a world wide standpoint has more then their fair share. So Nafta . pollution & workplace laws where gradually & systematically put into place to encourage & force the USA,s manufacturing to be redistributed to other places. Ross Periot was correct the nafta sucked he jobs away. Only gullible sheeple believe there is a viable pollitical choice or ballott box solution. The USA is in decline and raising or lowering Taxes wont change that fact.
I agree with every thing you said except the part about me being an idiot. Both parties are to blame, and it's not going to get any better until we start manufacturing again.
guess who

Ravenden Springs, AR

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#7
Jan 18, 2013
 

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Independent wrote:
<quoted text>
I agree with every thing you said except the part about me being an idiot. Both parties are to blame, and it's not going to get any better until we start manufacturing again.
What most folks dont understand is that the usa wasnt coming out of the depression . Roosevelts communist social reforms actually werent working. The war created a need and the only country that could supply it was the USA. After the war the whole world was hungry for manufactured goods. europe was bombed out and the USA had the factories & manpower and naural resources to provide the goods. so that created a one time anomaly where if someone needed something they came here to get it made. that anomoly allowed folks working with their hands to make a good living and have jobs with benifits for their entire lives. The Jimmy Carter fake gas shortage and the forming of OPEC was the beginning of the USA,s decline. The manufacturing is gone never to return only a denialist believes otherwise. Nowadays we have too many parasite takers and to few producing makers. There is a whole new group fo laces doing the manufacturing of goods, growing of food, and producing fuel. The USA,s monopoly is no more. We are reduced to a nation of debt ridden parasites who cannott even feed & house thenselves without goverment help. Unless the cost of wages& production in the third world place comes up or the cost in the USA declines the playing field will not be level enough for USA manufactured & agricultrial goods to compete in a glowball economy. On a local note A guy who worked for 38 years a magee was given a pink slip fpr christmas, His position was elemanated. His job is now being done by two part time minium wage workers from Aid Temporary. That way the company dont have to pay for obama care. Simply reduce to less than 50 full time employees.
guess who

Ravenden Springs, AR

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#8
Jan 18, 2013
 
Bubba wrote:
<quoted text>Go back to school and learn to spell and punctuate if you want to debate with the big boys. You are the definition of republican moron!
Read my post again I stated both partys are to blame. you are the type that since you cannott refute the post and you disagree with the message you attack the poster or his spelling ect. Im the offspring of geneticly poor spellers that have dexlexia. Come on and debate lets hear your counter arguement. the republicans are just a bad as the democrats.
Bubba

Calico Rock, AR

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#9
Jan 18, 2013
 

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guess who wrote:
<quoted text> Read my post again I stated both partys are to blame. you are the type that since you cannott refute the post and you disagree with the message you attack the poster or his spelling ect. Im the offspring of geneticly poor spellers that have dexlexia. Come on and debate lets hear your counter arguement. the republicans are just a bad as the democrats.
Well, let's see. You say FDR was a commie and Carter created a false oil shortage (why would he do that?) and you claim you're not a moron because you have dexlexia (your spelling)? I think you are a moron because you ARE a moron!
guess who

Ravenden Springs, AR

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#10
Jan 18, 2013
 

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Bubba wrote:
<quoted text>Well, let's see. You say FDR was a commie and Carter created a false oil shortage (why would he do that?) and you claim you're not a moron because you have dexlexia (your spelling)? I think you are a moron because you ARE a moron!
The fake gas shortage was during carters term. Kissinger helped the arabs form opec. Today we recieve less than 10% of our crude oil from the middle east. We could buy the 10% fron canada. Busch sr & bush jr,s middle east wars where not necessairy. Bush sr was the first US president I heard talk about Ushering in a New World Order. FDR,s programs where commie social engineering. The war ended the depression. Social security is and was a social engineerng ponzi sceme. The baby boomers payments where given to the WWII folks. they got free medicare and never paid a dime into it. Most of the WWII generation got every penny that paid into social security back within three years. Do you really believe that the jobs & prosperity can ever be returned to the middle class? Evey dollar spent on imported goods is gone from the us economy . We have experienced a mass exidous And redistribution of money and jobs and its still happening. The Us goverment borrows 40 cents of every dollar it spends.
redneck

Jonesboro, AR

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#11
Jan 20, 2013
 

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this is bs,George Bush will go down as the best president in history.Obama sucks.
bill t

Salem, AR

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#12
Jan 20, 2013
 

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redneck wrote:
this is bs,George Bush will go down as the best president in history.Obama sucks.
He already has.

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