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Bush-era tax cuts
Topic Started: Oct 17 2012, 07:12 AM (342 Views)
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so you are saying employment went up in 2009 under Obama
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Neutral
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OMG Capps.
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Berton
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Berton
Oct 17 2012, 11:05 AM
jcapps
Oct 17 2012, 07:18 AM
no.....they have done nothing to eliminate unemployment as the right claim they do
From the chart it is obvious the cuts went hand in hand with less unemployment.




jcapps
Oct 17 2012, 11:07 AM
so you are saying employment went up in 2009 under Obama


No, it obviously did not. Obamas policies did not allow that to happen.


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tomdrobin
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The Bush tax cuts should be allowed to expire. In fact it was irresponsible to have passed them when they were spending like drunken sailors. Of course the argument is tax cuts stimulate the economy and increase revenue, but the evidence to support that is pretty shaky. The truth is the stimulus effect is insufficient to overcome the lost revenue. I think all the Bush tax cuts should be allowed to expire not just for the wealthy. We shouldn't have 47% of filers with no tax liability after deductions. And, then we should raise the top rate to about 50% until we get the deficit under control.
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Berton
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Note that the unemployment rate did go down which means more people were working and paying taxes they were not paying before.

Would you be willing to go back to the same deductions we had when we had higher tax rates?


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tomdrobin
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Berton
Oct 17 2012, 11:20 AM
Would you be willing to go back to the same deductions we had when we had higher tax rates?


No. I would minimize deductions, even for dependants. Why should the taxpayers subisidize breeding. Back in the Clinton era they eliminated non mortgage loan interest. Perhaps the loan mortgage deduction should go to.
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Berton
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So your opinion is that more taxes = more private industry jobs.
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tomdrobin
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Berton
Oct 17 2012, 11:33 AM
So your opinion is that more taxes = more private industry jobs.
No, my opinion is more spending drives demand, which in turn creates more private industry jobs. You finance that spending by increasing taxes on the wealthy. That does two things. It creates demand, and the redistribution corrects the out of whack wealth distribution. It has worked in the past. Now, I'm not calling for just mailing out more welfare checks. Spend it on infrastructure, education, technology. Any spending stimulates demand, but spending on the right things improves the country.
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