Did Bush Tax Cuts Contribute Significantly To The Deficit? Yes/No

Discussion in 'Opinion POLLS' started by TheTaoOfBill, Jul 31, 2011.

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Did Bush Tax Cuts Contribute Significantly To The Deficit?

  1. Yes

    62.4%
  2. No

    37.6%
  1. Iriemon

    Iriemon Well-Known Member Past Donor

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    What about the fact that tens of billions in taxes were refunded in 2001 by the Bush tax rebates?

    You've been informed of this several times and continue to pretend like it never happened.
     
  2. Badmutha

    Badmutha New Member

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    ....the graph shows the begining of 2000 to the end of 2000......

    [​IMG]

    ....Im embarassed for you.....
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  3. Badmutha

    Badmutha New Member

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    You mean that $40 Billion in tax rebates?

    Oooooh wowwwww......
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  4. Iriemon

    Iriemon Well-Known Member Past Donor

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    That is correct. Those rebates you continually continue to ignore.

    And now we can look the surplus/deficit from 2000 (Clinton's last full year) to 2001 (the year the Bush tax cuts were passed and the $40 billion in revenues were refunded):

    Year - on budget surplus/deficit:

    2000 86.4
    2001 -32.4

    Source: CBO.gov

    And we can add that $40 billion back into to 2001, and we would have a $8 billion surplus, instead of a $32 billion deficit.

    And then we can look at revenues:

    Year - revenues:
    2000 2025.2
    2001 1991.2

    Source: CBO.gov

    And we can see that if we add that $40 billion back into revenues, we have revenues in 2001 of $2,031 instead of $1991.2, and an increase in revenues that year, instead of a decrease.

    So we can now see that the fact that the economy went from surplus to deficit from 2000 to 2001, and that revenues decreased from 2000 to 2001, can be directly attributable to Bush's tax policies.

    Where you saying something about pwned?
     
  5. Iriemon

    Iriemon Well-Known Member Past Donor

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    C'mon dude. You can't really be serious. That graph takes a figure from the end of FY2000 and a figure from FY2001 and draws a straight line between them.

    It doesn't show a continual trend every month over the year.

    Clinton was only president during 3 1/2 months of that FY, Bush for 8 1/2 months.

    You are taking two discrete points a year apart, drawing a line bewteen them, and attributing the decrease to Clinton based on a line between the two points.

    We have proved in the preceding post that the decrease in revenues from 2000 to 2001 can be attributed to Bush's tax rebates, none of which were effected when Clinton was president.

    So your argument that because a line between two year end data points goes down that proves revenues were decreasing during the first 3 1/2 months while Clinton was president is inane, at best.
     
  6. Badmutha

    Badmutha New Member

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    Good gawd.......amateur hour......

    Fiscal Year 2000 ended September 30, 2000 I believe.....and Fiscal Year 2001 ended in September 2001. With that said.......

    .......WHY DID REVENUE DECREASE......BEFORE THE BUSH TAX CUTS?

    Federal Revenue FY 2000--BJ's Last Year
    [​IMG]
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  7. Iriemon

    Iriemon Well-Known Member Past Donor

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    You chart doesn't show that revenues decreased before the Bush tax cuts. That's the point you apparently cannot comprehend.

    All your data shows is that revenues for FY2001 were lower than FY2000. It doesn't show when the revenues got lower. It doesn't show that revenues were lower during the 3 1/2 months Clinton was president.

    You are simply extrapolating the change in revenues by drawing a line. That is not a demonstrated accurate extrapolation.

    Why? Because we know that Bush gave about $40 billion in refunds in 2001, and that but for that revenues would be higher. So it is a fair assessment that revenues were higher before the Bush tax cuts.
     
  8. stretch351c

    stretch351c New Member

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    Actually the "rich" paid more,as a percentage of income, after the Bush tax cuts.
    http://www.ncpa.org/pub/ba606

    that's the systemic problem with the Left. They seem to think that all money belongs to the government, and we are allowed to keep what they allow us to keep.
     
  9. Iriemon

    Iriemon Well-Known Member Past Donor

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    Your source is wrong. The Bush tax cuts were not passed in 1986.

    Effective Individual Income Tax Rate [top 1%]

    Year - %
    2000 24.2
    2001 24.1
    2002 23.7
    2003 20.4
    2004 19.7
    2005 19.4

    Source: http://www.cbo.gov/ftpdocs/88xx/doc8885/Appendix_tables_toc.xls Table A1.

    Contrary to your assertion, the rich paid less as a percentage of their income after the Bush tax cuts.

    That's the systemic problem with the Right. The believe the BS propaganda from conservative sources.
     
  10. stretch351c

    stretch351c New Member

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    http://www.realclearmarkets.com/art...truth_about_the_bush_tax_increases_98625.html

    Try again.
     
  11. Iriemon

    Iriemon Well-Known Member Past Donor

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  12. stretch351c

    stretch351c New Member

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    You missed it entirely, didn't you? as the tax rate on the "rich" dropped, the "rich" were willing to take more risks. Resulting in INCREASED revenue to the government. BTW, the Bush tax cuts took almost 4 million poor off the tax rolls completely. But why do you believe that all money belongs to the government, to be doled out as it sees fit?
     
  13. Joe Six-pack

    Joe Six-pack Banned

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    Good point.
     
  14. dixiehunter

    dixiehunter Banned

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    I am surprised on how many Americans don't realize how much of our dollars have been send overseas. Mostly to muslim countiries.
    Obama alone has banked rolled the USA in just 3 years.
     
  15. finnbow

    finnbow New Member

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    They don't realize it because it's not true. Our foreign aid budget is significantly less than 1% of the budget. Humanitarian aid is somewhat less than 0.5%. Unless you count money going to Iraq and Afghanistan as foreign aid, Israel is the largest single recipient.
     
  16. Clint Torres

    Clint Torres New Member

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    The answer is simple. If you take in less money than you need to cover the mortgage and bills you will be screwed. If you cover your bills by using your credit card, you will be screwed even sooner than you think.


    Clinton took away a lot of corporate tax cuts and raised taxes just like Boosh #1 did. However during the Clinton years the result was a decline in the debt that Regan and Boosh#1 created. In addition, there were more jobs created during that period than today. There was only one USA war during that period and it lasted only 30-60 days in Cosavo. Total cost of the war was equal to one week in Iraq. You do the math. IF you can.
     
  17. dustup

    dustup New Member

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  18. Wildjoker5

    Wildjoker5 Well-Known Member

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  19. TheTaoOfBill

    TheTaoOfBill Well-Known Member

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    No he hasn't....
     
  20. Wildjoker5

    Wildjoker5 Well-Known Member

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    What was the debt at when he took office? What is it now? Or are you saying cause there has been no budget in 2 years it is not his fault that we are spending more than we ever have in history?
     
  21. TheTaoOfBill

    TheTaoOfBill Well-Known Member

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    What policies have Obama's signature on them? How much do those policies cost? Or are we going to pretend America was founded Jan 20th 2009.
     
  22. Wildjoker5

    Wildjoker5 Well-Known Member

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    Really? Stimulus bill ring a bell? Cash for clunkers? Lybian war. The troops still in Iraq. The surge in Afgan. Obamacare. What ever spending that has been done since Jan 20th 2009 is Obama's spending, Just like everything from when Bush took office to the time he left is Bush's, all ~$5 trillion of it. But you think that because Obama has been either on the golf course or on vacation for 50% of the time he has been president, none of the $4 Trillion in deficit spending since Jan 20th 2009 is his fault?
     
  23. TheTaoOfBill

    TheTaoOfBill Well-Known Member

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    The stimulus created 2million jobs. Combat missions in Iraq are over and Afghanistan is coming to a close.

    Your way of calculating who spent more is partisan and unfair. Obama inherited a recession and a 1.2 trillion dollar deficit. Bush inherited a 150 dollar surplus and an economy just starting to slow down from a massive boom. He had about 3 years to react to what almost every economist predicted was a housing bubble and his failure to act led us into the harshest recession since the great depression. It's a given that Obama is spending more. Ron Paul would spend more than Bush under your scale. The president doesn't have infinite power. He can't just sign spending out of existence. It's not that simple.
     
  24. Iriemon

    Iriemon Well-Known Member Past Donor

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    Revenues under Bush only increased nominally. They didn't even keep up with inflation, and lagged far behind economic growth

    Real revenues grew -1% under Bush and about +57% under Clinton.

    If the Bush tax cuts so stimulated the "rich" as you claim, why was revenue growth so CRAPPY under Bush?

    Year - Revenues 2005$:

    Reagan
    1980 1197.6
    1988 1421.1
    % growth revenues: +18.6%

    Clinton
    1992 1467.5
    2000 2310..0
    % growth revenues: +57.4%

    Bush
    2000 2310.0
    2008 2286.8
    % growth revenues: -1.0%

    Source: http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200
     
  25. Iriemon

    Iriemon Well-Known Member Past Donor

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    The Republicans under Bush increased spending *faster* than the Democrats.


    Spending - Democrat controlled Congress:
    2006 2,655.4
    2010 3,456.2
    Increase over 4 years: 30.2%

    Spending - Republican controlled Congress.
    2002 2,011.2
    2006 2,655.4
    Increase over 4 years: 32.0%

    Source: CBO.gov

    The only reason the debt wasn't even worse under Bush is that he inherited a budget surplus. Which was quickly squandered.
     

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