John McCain on Tax Cuts
- Thread starter seneca_roman
- Start date
Opinions don't count, data does and according to the data:
In the 20th century, the Dow Jones industrial average rose 7.3 percent per year on average under Republican presidents. Under Democrats it rose 10.3 percent implying a 41 percent increase in their investments.
⢠Real middle class wage growth doubled under a Democratic president compared to the growth under a Republican president according to Professor Larry Bartels of Princeton.
⢠Democratic presidents have increased the national debt by an average of 3.7 per year since World War II. Under Republican presidents, the national debt has increased by an average of 10.1 percent.
⢠For the same period, unemployment rate was 4.8 percent under Democrats compared to 6.3 percent under Republicans.
⢠Comparing the last 15 years, under Clinton-Gore administration, the national debt was reduced significantly, the industrial sector boomed, wages grew and Americans had more job opportunities. With Bush-Cheney administration we are seeing fewer jobs created since the Great Depression, record deficits, record household debt, record bankruptcies and increased number falling into poverty. And nearly 50 million have no health insurance. Between the two administrations, we saw the biggest contrast, it went from the biggest budget surplus in history to the largest deficit in history.
⢠Under Bush administration, there was a sweeping tax cut plan in 2001: the wealthiest 1 percent of Americans received 43 percent of the gain. In just a year and a half, the federal governmentâs projected budget surplus of $1.6 trillion vanished quickly. In 2000, there was a surplus of $236 billion, in 2004 there was a deficit of $413 billion. McCainâs main theme is to provide more tax cuts for the rich. So, we can expect similar trends if McCain wins.
⢠The McCain campaign calls Democrats theâtax and spendâ party. But research shows that 70 percent of national debt was created by just three presidents: Reagan, George W. Bush and his father George Bush, all Republicans.
Blaustein quotes an old Las Vegas expression in the end, âFigures don't lie and liars figure." And the above figures clearly prove under Democratic leadership the country thrives well.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/10/18/IN5C13H0J5.DTL
NOTE: be prepared for ad hominen attacks.
Seneca
Quote from Gord:
And you think that the ship can now be righted by voting in Obama who will raise taxes and massively increase spending?!?
YES. As the previous poster said, I give 0 credibility to the GOP when it comes to spending. I'd vote for the Green party of America and not these assholes anymore. They lost my trust.
--Obama is giving tax cuts to the middle class, financed by the wealthiest among us (I'm fine with that) I see some positive macro economic to that (The same Henry Ford helped himself and his employees by raising their salaries to afford a T-model)
-- I know for a fact that "spending' on Alternative energy and infrastructure is BETTER than spending on a false war and Viagra for the grannies.
How many Jobs did the extended medicate benefits bill create expect for Blonde bimbo "representatives" (prostitutes) operating a liaisons btw the pharmaceutical industry and physicians (my father is physician, I know what I'm talking about) ??????
Just stop throwing "the Tax and spender " around. It's an empty shell of a slogan.The Republicans have no credibility.
Another piece of data on how good Bush's tax cuts were:
Clinton - + 22 million new jobs
Bush- less than 5 million new jobs
Seneca
Clinton - + 22 million new jobs
Bush- less than 5 million new jobs
Seneca
Your analysis is flawed. Each president inherets good and bad things from the prior. For instance, Clinton inhereted a rising economy from Bush 41 and left a floundering economy for Bush 43. Also in some instances the soundness of the economy can be attributable to things beyond a president's control - like the affirmative action regulation and banking problem we are currently experiencing.
Obama is only promising income tax cuts, but also promises many other tax increases that will more than nullify those cuts.
And the GOP will not be in control of congress - that much is pretty evident. So the only question to you is who will right this ship as a president? Obviously Obama will not with increased taxes and massive new spending. John McCain is promising broad tax cuts and broad spending reductions. The answer to your question is very clear - John McCain.
So how do you objectively answer the issue of whether Bush's tax cuts helped?
Btw-lest you forgot Clinton inherited a recession caused by Bush the less ignorant.
Seneca
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