Toddsterpatriot
Diamond Member
So, how much better a position do you think we'd be in if we hadn't lost 1.3 trillion dollars to the Bush Tax Cuts?
The Bush tax cuts kept the economy going after the dot com bust, Katrina and 911. If your #1.3 trillion figure over 7 year iis correct, which I seriously doubt, how much better off would we be if we didn't have $1.3 trillion a freaking year for the last three years.
I completely disagree with you that the dot com burst was mitigated by the Bush Tax cut, but I'm going to concede it because that's not what I think the big issue is. The problem is that the recession of 2008 should have been a clear signal to drop the tax cut. Our GDP shrank so much that the government's deficit exploded by that same amount, and not raising the rates on the upper tier earners, like Reagan did, for example, just compounded the issue even further.
The bottom line is that most economists are pinning the lion share of our deficit, which is hurting our ability to further invest in our future through infrastructure, research and development, you know, like we did in the Space Race, is the Bush Tax Cuts and the two unfunded wars in Iraq and Afghanistan. That's not spin; that's not rhetoric. That's cold, hard numbers.
The problem is that the recession of 2008 should have been a clear signal to drop the tax cut.
Wow! Even the economically illiterate Obama knows that a recession is the worst possible time to raise taxes.