skookerasbil
Platinum Member
Bottom line is, They were a miserable failure and did not produce what Bush and his people said.
He promised they would increase the prosperity of all Americans. He also vowed: "Tax relief will create new jobs. Tax relief will generate new wealth. And tax relief will open new opportunities." -
OK, a pitter-patter of applause for what the tax cuts did do effectively: Cut taxes and reduce overall payments to Uncle Sam. Low-income families benefited from the child-care credit jumping from $500 to $1,000. High-income families benefited from the top marginal rate falling. Billionaires benefited from lightly taxed dividend income. And government receipts, in turn, dropped.
But the benefits mostly accrued to the rich, according to the nonpartisan Tax Policy Center. The think tank reports that between 2001 and 2008, the bottom 80 percent of filers received about 35 percent of the cuts. The top 20 percent received about 65 percent—and the top 1 percent alone claimed 38 percent.
What about the president's claims? Take his pledge that the cuts would spur job growth. To be fair, we'll ignore employment changes during 2008, the year the Great Recession seized the economy. During the 2001 to 2007 business cycle, America's economy enjoyed 52 straight months of job growth. But it was sluggish—in fact, the slowest rate of jobs growth on record since World War II, and just one-fifth the pace of the 1990s.
....Then there's wealth. Put simply, the aughts were a decade of income stagnation: The tax cuts failed to bolster most taxpayers' earnings, even before the recession hit. Median real wages actually dropped from 2003 to 2007. Household income from business-cycle peak to business-cycle peak declined for the first time since tracking started in 1967. As documented by my colleague Timothy Noah in his series "The United States of Inequality," this did not hold true for the nation's billionaires and millionaires.
Bush tax cuts 10th anniversary: They've been a failure. - By Annie Lowrey - Slate Magazine
100,000 was just a figure, we could make it less or equal to the total that was handed over to wall street and others if you like.
But basically the same place it came from.
Keep in mind, this only prolongs the inevitable, but would have provided less suffering to individuals, and businesses. Yes it still prolongs the ponzi scheme but at least in a way less painful to most people....for a while longer.
Ideally though we need to eliminate the Fed Reserve, and stop paying interest on our own damned money.
If we end the Fed and get out from under the immediate debt incurred by borrowing from it, this could be done if congress did what is allowed in the Constitution, and create and coin its own money for the nation.
Obviously the print and spend tactics would then be solely in the hands of the irresponsible fucks in government /Congress, (preferably a dept just for this task) so the aware and awake American citizens would have to do their job, and mind the ones who we charge with this task, by demanding strict fiscal monetary policy. We would still owe less then we do today, and by adhering to sound practices in the first place, the US government would be a good place to continue to but T bills from and invest in (good name and credit).
You don't understand how the Fed creates money, and basically just moves what it creates out of nothing around, or money creation. Debt is money in the current system, is it not?? Banks,like the Fed Banks are allowed to create money it doesn't have in the first place by loans, by creating it based on a percentage of the deposit. (see the court case below).
What the heck do you think they have essentially been doing sparky?? In reality they don't print shit hardly anymore, it is all figures on a computer screen. In fact I read somewhere once that only about 10% of the money supply is in the form of hard cash anymore.!?
People may think that banks have a lot of cash money in their possession and that they lend only the money that has been deposited with them, but they do not.
When a bank grants you a loan, they give you absolutely nothing. Try obtaining a large sum to pay for your house in cash from a bank, and they'll look at you like you have 2 heads, and or report you.
Take that loan and give it to your creditor, who then deposits it in their bank, then that bank is allowed to create additional money based on the size of that deposit..out of thin air.
Yes, they credit your account, but not with cash. All they do is type the amount of the loan into their system. Your loan is conjured up out of mere figures on a computer screen. From the time your account is credited, you are actually charged interest on non-existent ‘money.’ The real shocker here is that banks are allowed to list these non-existent amounts as assets, whereas when us ordinary minions apply for a loan, our assets are required to be of a physical nature, such as your home or business.
There was an unprecedented lawsuit initiated by a man trying to prevent his home from being foreclosed on that proves they create money from nothing.
* It appears that the Plaintiff acquired money from a bank conducting “fractional reserve banking”. This is “prima facie” evidence that the Plaintiff did not lawfully acquire all of the money lent. Unless the Plaintiff can disprove this evidence, the court is bound to admit that no valid loan was ever made to the Defendant.
Mr. Morgan admitted that all of the money or credit which was used as a consideration was created upon their books, that this was standard banking practice exercised by their bank in combination with the Federal Reserve Bank of Minneapolis, another private Bank, further that he knew of no United States Statute or Law that gave the Plaintiff the authority to do this. Plaintiff further claimed that Defendant by using the ledger book created credit and by paying on the Note and Mortgage waived any right to complain about the Consideration and that the Defendant was stopped from doing so.
At 12:15 on December 7, 1968 the Jury returned a unanimous verdict for the Defendant.
Now therefore, by virtue of the authority vested in me pursuant to the Declaration of Independence, the Northwest Ordinance of 1787, the Constitution of United States and the Constitution and the laws of the State of Minnesota not inconsistent therewith;
IT IS HEREBY ORDERED, ADJUDGED AND DECREED:
1.That the Plaintiff is not entitled to recover the possession of Lot 19, Fairview Beach, Scott County, Minnesota according to the Plat thereof on file in the Register of Deeds office.
2.That because of failure of a lawful consideration the Note and Mortgage dated May 8, 1964 are null and void.
Judge Mahoney Credit River Court Case, State of Minnesota, County Scott, United States of America, 9th December 1968 | Love for Life
And Ummmm... yes it is a central bank...a private, for profit one, that has usurped the American Constitution. Have you not known this?? Why do you think some want them to provide more disclosure, and open their books but they refuse??
.... in some circumstances, the Federal Reserve Bank can be considered a government "instrumentality", but cannot be considered a "federal agency", because the term carries with it the assumption that the federal government has direct oversight over what the Fed does. Of course it does not, because most people who know about this subject know that the Fed is "politically independent."
The Federal Reserve is a Private Financial Institution
Get your head out of your ass dude we've been lied to and conned. It's not too late to learn what has been going on, but you must first be willing to be receptive to these possibilities, and bypass the urge to continue to think you are being cared for by benevolent entities.
Why is it folks like you always resort to ridiculing the sources that are against your established way of thinking instead of addressing the actual message or information that disturbs you??
OK s0n......gotcha...........
Then Obama should be a cakewalk victory in 2012!!!!!
Except one little bitty problem. Its 2011. Nobody cares about George Bush except far left internet k00ks who lurk in the nether-regions of the cyber-world.
Oh........and ps......since this is a POLITICS forum, might be important to point out that in Ohio, present polling is showing the president is going to get blown out. Last hundred years, who wins Ohio.........ummmm.............WINS!!
Of course, there is still time to see some stunning growth in this economy over the next 16 months
Other than that.........all this philosophy BS I see on here is..........BS.
Philosophy is gay.
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