Tax cuts were one the first things Bush did to this economy. Eight years later, here we are. So, the republicans are proposing more tax us as a solution.
Huh!?!
Yeah. Exactly. Let's do exactly what got us here in the first place. This time, the result will be different. The definition of stimulus is doing the same thing over and over and expect a different outcome.
Larry Summers tried to give Gregory a crash course on tax cuts. Unlike the working class who spend their most of what they earn, wealthy people put the extra money in their back pocket. That, does not stimulate anything. You don't have to believe Summers. We've just done that under Bush.
Not all projects in this bill are good. Any time there is spending, some politicians start carving out the pork. I have no idea how "family planning," a clear euphemism for more abortion will stimulate the economy regardless of where in the spectrum you fall on this.
But tax cuts at this time? Remember the massive Bush tax cuts that were supposed to create growth? Remember all the jobs and economic growth they created?
Me neither.
These smart guys have concluded that there no need to learn economics. Economics = Tax cuts. Job creation = tax cuts. Create wealth = cut taxes. Stronger dollar = cut tax cuts.
One pill for all ailments. Just cut taxes baby. It solves all economic problems. Regardless the year, be it 1980, 1992 or 2009. Just cut taxes. It does not matter what the problem is.


Comments: 13
If roads and bridges get 3%, how about 20% for new rail? Only new technology though, none of that 40 year old light rail stuff.
Obama has done a great job in his first week and I hope he will continue on the path he has chosen.
Try several new departments in government that duplicate the efforts of other established departments. i.e. Homeland Security.
Those caused the problem, not tax cuts.
Col. what are you talking about? Those things are not mutually exclusive. You don't go to wars and cut taxes. Duh. Isn't it why McCain said that's why he voted against the tax cuts? Simply put you don't increase your expenditure (new wars, homeland security department) and cut your revenue (taxes) unless you were sitting on massive surplus and/or pledge to eliminate waste. Neither of these happened and will not happen. Until then, get the revenue coming: TAXES!!!
This is your virgin submission to Obama Watch
Are you excited?
As far as tax cuts in the manner that your post has described, GOOD GRIEF! When shall enough be enough, (and that is NOT a question.)
Remember what Einstein said about HIS definition of insanity.
Spoken like a truly delusional republican. Sorry, but the additional $2 trillion in tax cuts have contributed a MASSIVE amount to the mess we're in right now, not to mention the trillions in millionaire welfare handouts that republiCONs have handed Bill gates between 1981 and 1993. Altogether, republiCON presidents and congresses have saddled this nation with a whopping $10 trillion in debt since 1981, and they've managed to do that by dramatically reducing federal revenue by cutting top tax rates, while at the same time massively expanding federal spending.
RepubliCONs should be banished from this country forever, imo. This is a diseased curse of a party that wreaks nothing but catastrophic damage wherever it goes.
"very loose FED policy that encouraged sub prime lending in the housing and other markets."
Just to show that you haven't a clue what you're talking about, why don't you produce the numbers to back this statement? Let's see how much actual money was lost due to sub-prime lending, vs. what's been lost due to idiotic republICON deregulation/ponzi schemes and the creation and manipulation of derivitives markets (beware...this market is estimated to be somewhere around $60 trillion of pretend wealth, so you're going to have to work pretty hard to prove to me that it was sub-prime lending's fault).
"Try several new departments in government that duplicate the efforts of other established departments. i.e. Homeland Security."
Homeland security, while clearly yet another foolish republiCON failure and excuse to once again create explosive growth of the federal government, has a budget of about $40 billion. The military has a current budget of about $1 trillion, if you don't count Iraq and Afghanistan.
"Those caused the problem, not tax cuts. "
You're being naive. There were several things that caused the mess we're in right now, and virtually all of them can be traced directly to failed republiCON policies of cutting taxes for millionaires while massively expanding federal spending, through debt, as well as widescale, ill-thought deregulation of financial industries, which led to fraud, abuses, and wreckless gambling.
$2 trillion in tax cuts for millionaires. $40 billion for homeland security.
Tax cuts don't raise wages. What are we talking about here? $3000 a year = $250 a month = $125 per bi-weekly paycheck. LOL. Put that on the gas tank this summer. If you think an average tax cut of $3000 a year, because that's what they are talking about, or $125 per paycheck is what will turn this thing around, simply put, YOU ARE AN IDIOT
How many times are they going to propose tax cuts for just about anything. Tax cuts for job creation, tax cuts for gasoline prices (remember the holiday tax cuts proposed by McCain last summer), tax cuts for stimulating the economy.
The question is, how dumb do they think you are
These folks don't know much that's why they come up with the tax cut solution every time there is a problem.
Quite the opposite, in fact. Middle class incomes have fallen since wingnuts began cutting top tax rates in 1981. It's all part of the wingnut grand plan to destroy America from the inside.
"Something needs to be done and republicans better propose something other than tax cuts. Come'on. Some ideas!!! "
Those idiots have no ideas beyond tax cuts for millionaires. Haven't you figured that out yet?
Yeah tax cuts work in increasing revenue but they MUST not be in conjunction with spending increases. Neither party seems to understand math.
So your premise is that tax cuts are what caused this problem? Nothing to do with the housing bubble, eh? You moonbats kill me with your lack of critical thought.
Anywho, now the dems want to borrow and spend on a whole new historical scale... way to go.
Bet me it goes in democrat pockets.