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#1 User is offline   pepperonikkid 

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  Posted 04 December 2017 - 09:36 AM

Sick and Tired of Schumer and Others Continually Lying about Tax Cuts and Debt



http://www.americanthinker.com
By Jack Hellner
December 4, 2017


Article:


I feel like I am beating a dead horse on tax cuts, economic results and debt but since reporters won’t report the truth here goes:

I get sick and tired of listening to Chuck Schumer lying about tax cuts. He complains endlessly about how it will add to the deficit and how it would jeopardize Medicare, Medicaid and Social Security. Not once during Obama's eight years did he cOKomplain about massive spending increases, slow growth and higher taxes, which yielded almost $10 trillion in new debt. .In fact, he supported everything. What makes me sicker is that almost all reporters just repeat Schumer's talking points as if they are factual. They repeat the outright lies over and over again, and then after indoctrinating the readers with pure garbage, they take a poll of fewer than 1,000 people, skewed with more Democrats than Republicans, to show that the people aren't in favor of reform. Then they run the poll results as if they are somehow factual news.

Reporters should be truly ashamed of themselves for pushing an agenda instead of ever even considering reporting actual results of previous tax cuts.

President Reagan inherited a disaster from President Carter in 1981, with double-digit inflation, double-digit unemployment and double-digit interest rates. The first thing Reagan had to do was wring out the high inflation and interest rates. In January 1981, when Reagan took office, there were 89.8 million jobs. Reagan then cut taxes from the abrasive 70%, to 28%. The economy took off, revenues to the government doubled instead of fell, and by January 1989, when Reagan left office there were 105.7 million jobs, which was a phenomenal result.

Clinton inherited a growing economy and although he did raise taxes at first, he lowered the capital gains tax rate from 28% to 20% in 1997 at the request of Republicans. Revenues did not go down as predicted but took off. From the following American Thinker article:

Quote

The 1997 rate reduction on capital gains unleashed the economy, causing capital investment to more than triple by 1998 and double again in 1999. Treasury receipts for this category of tax obligation increased dramatically. Without tax relief and the internet/communications revolution, the second Clinton term would likely have seen tax revenues decline in a lagging economy.


The best and easiest example to show how growth, revenue, jobs and debt are affected by tax cuts are Bush’s, because he inherited a recession and declining revenue.

Bush inherited a recession that began in March 2001 along with a collapsed stock market. In FY2000 the government collected around $1.2 trillion in income taxes. By FY2003, despite rates being essentially the same, the government collected around $900 Billion. Bush’s across-the-board tax cuts taking all rates down passed in May 2003 and by FY2007 revenues not only didn’t go down as predicted, they went up over 60% to over $1.5 trillion. Total jobs when Bush took office in January 2001 were 130.7 million. By May 2003 when the tax cuts passed they had barely budged to 130.9 million. But by December 2007, jobs had risen substantially to 137.1 million, obviously goosed greatly by individuals being allowed to keep more of their own money. The deficit also was going up to over $300 billion by FY2003 and dropped to $161 billion by FY2007 (The last year of a Republican Congress) including both wars and Medicare Part D. It seems to be a foreign concept to reporters and other Democrats that rising revenues can’t cause the deficit and debt to rise.

The economy collapsed in 2008, not because of the tax cuts, but because of too much leverage throughout the economy. The leverage and collapse was contributed greatly to by Fannie and Freddie, two government-sponsored agencies, both of which used their implied guarantee of the government to borrow cheaply and buy garbage sub-prime mortgage pools to beef up their balance sheets.

Full Story

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#2 User is offline   MTP Reggie 

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Posted 04 December 2017 - 10:05 AM

Proggies always have trouble with "Which number is bigger"...
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#3 User is offline   Coach 

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Posted 04 December 2017 - 12:52 PM

View PostMTP Reggie, on 04 December 2017 - 10:05 AM, said:

Proggies always have trouble with "Which number is bigger"...



It's classic. Class warfare works because most Americans are economically illiterate and terminally selfish. They would destroy the producers who create jobs and wealth if it destroyed the entire system.
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#4 User is offline   Taggart Transcontinental 

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Posted 04 December 2017 - 02:52 PM

Wonder if we will see any charts or graphs here.
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#5 User is offline   MontyPython 

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Posted 04 December 2017 - 04:27 PM

Yes, I'm sick and tired of their lies too, but let's face it: That's what Democrats do - They lie. It's all they have. If they ever admitted the truth, they'd have to give up the vast majority of their political positions.

B)
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#6 User is online   zurg 

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Posted 04 December 2017 - 04:34 PM

View PostMontyPython, on 04 December 2017 - 04:27 PM, said:

Yes, I'm sick and tired of their lies too, but let's face it: That's what Democrats do - They lie. It's all they have. If they ever admitted the truth, they'd have to give up the vast majority of their political positions.

B)

Yup. They'd have to agree that we are mostly correct. When that happens here on RN, they run away and never comment on that topic/thread.
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#7 User is offline   Ticked@TinselTown 

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Posted 04 December 2017 - 05:51 PM

Wyn's Razor... :rose:
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#8 User is offline   MontyPython 

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Posted 04 December 2017 - 09:19 PM

View PostTicked@TinselTown, on 04 December 2017 - 05:51 PM, said:

Wyn's Razor... :rose:


:(

I miss Wyn

:(
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#9 User is online   zurg 

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Posted 04 December 2017 - 11:33 PM

View PostMontyPython, on 04 December 2017 - 09:19 PM, said:

:(

I miss Wyn

:(

+1
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#10 User is offline   Joe the Pagan 

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Posted 05 December 2017 - 10:56 AM

It reminds me of an interview John F'ing Kerry did on one of the Boston news stations when he was running for President. He was asked by the reporterette to explain how his tax plan would increase revenue and lower the deficit. He parroted back that his tax plan would increase revenue and lower the deficit. What was worse was the repoertette accepted the answer.
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