The Bush Tax Cuts (debt, interest, money, financial)
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The Bush tax cuts cost us a considerable sum of money under the Bush administration with no demonstrated increase in GDP. They were then, and are now, unfunded expenditures.
It is most certainly intended as a stimulus measure. If accompanied by spending cuts they might actually prove effective. But, I just don't see that happening.
Tax cuts? More like Deficit adders. What a ridiculous and silly tax program that should never have been signed ten years ago.
More pathetic financial policies.
Not as pathetic as the government spending and entitlements that has gone on for decades. They keep spending and asking for more when they should be cutting and living like most of the american people do when their income goes down.
"Pay off the U.S. government debt"? What makes you think they ever had any intention of doing that??? It has been going up since 1840, so why would they try to make it go down all of a sudden?
Thousands turned into Millions, which turned into Billions, which turned into Trillions. I have no doubt that we will see Quadrillions before we ever see Billions again. Print, expand, repeat. That is the strategy. It will be interesting to see how it ends. It wont be fun, but it'll be interesting.
The government can't in principle pay off the government debt, government debt is a critical part of our money system. The only thing that matters is how the debt relates to GDP.
The government can't in principle pay off the government debt, government debt is a critical part of our money system. The only thing that matters is how the debt relates to GDP.
One way they can increase the GDP (nominally) or decrease the debt to GDP ratio is with inflation. It doesn't seem to be working very well this time. At least not yet.
Some of you are then for a TAX INCREASE for middle class Americans starting January 1, 2011?
People making 80k per year would see a NET LOSS OF 1600 per month with the largest TAX INCREASE in our nations history if this was allowed to expire.
You simply cannot have a tax increase on working people during a recession.
Not a smart idea.
For those who are thinking this was just for rich people you could not be more wrong.
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