Mark Haines of CNBC is a A-Hole
- Thread starter nickdes
- Start date
he was correct. taxes were raised under clinton and the economy boomed. they were lowered under bush and we crashed. the conclusion based on the facts, that raising taxes slows the economy and lowering taxes stimulates the ecomomy is not a given.
there are other forces more important than taxes.
Are we forgetting the contract with American, the reduced spending, and least we forget, most of the growth happened after the 97 tax cut!!!!! Clinton had a surplus only because of the fiscal responsibility brought in by the change in control of the house in senate. Now that is history that is not being reported on!!!
The spending along with the tax hikes are going to kill us! Simple logic tells us, if Americans have less to spend then.....
lowering taxes didn't stimulate economy because all good jobs are already outsourced. businesses did moved overseas,because clinton tax them too hard...every average joe was saying clinton was good,because US did have some surplus under his administration,but at what cost? the guy no only fuck fat chicks in the white house..he fuck's the US economy too..
Not only did Clinton raise taxes to get to a surplus, he was also very fortunate at catching the top of the "dot.com" bubble and all of the capital gains taxes that generated.
I remember California lamenting... "we got all this extra tax money at the height of the dot.com frenzy... but later were in a bind because the revenues dropped off..."
Do statex EVER do anything except spend ever dime they get? Worse yet, not even on "one time" expenses.. but rather expanding "programs" which have ongoing funding requirements.
Couldn't a state salt away a windfall into reserve... "for a rainy day"... rather than spend it like it's burning a hole in its pocket?
OK, here's the deal. Taxes have never been lowered for the working class, ever. They have only been raised. It's a shell game that begins and ends with social security. Here's how it works.
Congress has been looting social security since the 60's. Ronnie Raygun's allowed them to take it to a new level. His tax cuts for corporate america and financial institutions were going to put a dent in the money congress could steal. This was offset by substancially raising SSN taxes in 1983. It was win/win for corporate america and financial institutions, all on the backs of the working class. However, jobs were created through inovation and financial institutions being flush with cash. The SSN slush fund continued to grow and jobs were created. Raising the SSN level to a point where most people just have to pay SSN tax all year long has continued to this day. Payroll taxes for the worker just keeps going up, never down.
This all went well through the 90's, mostly due to a technological boom time. The average working person was jumping from one foot to another with re-training trying to adapt to this new economy. Problem was/is, everybody just can't be an IT Tech, but even with that, this little scheme would still have legs, even today. One little problem...greed. What else would you expect from thieves? Corporate america, financial institutons, and of course congress all went nut's until the money finally ran out. Now, after stealing over one trillion dollars from the SSN slush fund, fewer workers employed and more retiring every day, we have a problem.
The bottom line is this. For the common working class individual, the recession of 1981 has never ended. Jobs are still tough to find, wages have been flat for decades, going down if you factor in inflation. A very few people have benefited greatly from tax cuts, all on the backs of the working class.
It's all a nice theory that if you give these rich fucks tax breaks, they'll spread it around and the common folk will end up with a decent job. Used to work fairly well, but that was before the current group of robber barons decided that a nice profit just wasn't enough, and began the wholesale financial rape of America. All brought to you by the government of the United States of America, both republican and democrat.
Congress has been looting social security since the 60's. Ronnie Raygun's allowed them to take it to a new level. His tax cuts for corporate america and financial institutions were going to put a dent in the money congress could steal. This was offset by substancially raising SSN taxes in 1983. It was win/win for corporate america and financial institutions, all on the backs of the working class. However, jobs were created through inovation and financial institutions being flush with cash. The SSN slush fund continued to grow and jobs were created. Raising the SSN level to a point where most people just have to pay SSN tax all year long has continued to this day. Payroll taxes for the worker just keeps going up, never down.
This all went well through the 90's, mostly due to a technological boom time. The average working person was jumping from one foot to another with re-training trying to adapt to this new economy. Problem was/is, everybody just can't be an IT Tech, but even with that, this little scheme would still have legs, even today. One little problem...greed. What else would you expect from thieves? Corporate america, financial institutons, and of course congress all went nut's until the money finally ran out. Now, after stealing over one trillion dollars from the SSN slush fund, fewer workers employed and more retiring every day, we have a problem.
The bottom line is this. For the common working class individual, the recession of 1981 has never ended. Jobs are still tough to find, wages have been flat for decades, going down if you factor in inflation. A very few people have benefited greatly from tax cuts, all on the backs of the working class.
It's all a nice theory that if you give these rich fucks tax breaks, they'll spread it around and the common folk will end up with a decent job. Used to work fairly well, but that was before the current group of robber barons decided that a nice profit just wasn't enough, and began the wholesale financial rape of America. All brought to you by the government of the United States of America, both republican and democrat.