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Originally Posted by RIROCKHOUND
If it is that simple why did the economy start to tank during the second half of Bush's second term? I'll restate it. Revinue was increased to pay the costs of war, fairer statement? These are still largely unfunded, unpaid for wars, no?
I'm sure you and everyone else did a lot of good.
I stand by my opinion, which has been consistant. There were other ways to deal with Iraq, that did not equate to a decade long ground war.
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"If it is that simple why did the economy start to tank during the second half of Bush's second term?"
Of course it's not that simple. Cutting tax rates doesn't always increase revenue. But Obama keeps saying that if he raises tax rates by x%, we'll get X% more revenue. The goal (and it's challenging) should be to grow the economy, so that you can raise revenue by decreasing rates. I don't hear Obama suggesting that. All I ever hear from him, in terms of addressing debt, is hiking up rates on the wealthy. As you said, it's not that simple. I know it's not as simple as saying revenue changes with rates, but Obama doesn't seem to know that. Why is that?
"Revinue was increased to pay the costs of war, fairer statement? These are still largely unfunded, unpaid for wars, no?"
Absolutely correct. One of those wars was to destroy Al Queda and the Taliban in Afghanistan. The other was to remove someone who was repeatedly violating the terms of the UN resolution he signed. Very, very expensive (I bet it cost me more than it cost you). And one can make a compelling argument that it wasn't worth the cost or the blood.
"I'm sure you and everyone else did a lot of good."
Thank you...
"why did the economy start to tank during the second half of Bush's second term?"
SUBPRIME MORTGAGES. Liberals, not conservatives, put pressure on banks to give mortgages to people who had zero hope of repaying them. Then those crappy mortgages were bundled and invested in ways that almost nobody understands (derivitives, credit default swaps). Lots of blame to go around on both sides for the investment side of it.
Put it this way. The economy grew like crazy, starting in Clinton's second term. What did he do to make that happen? He balanced the budget, cut taxes, cut spending. He also (very bravely in my opinion) told millions of healthy, lazy Americans on welfare to get back to work. Do you know what they did? THEY WENT BACK TO WORK. The economy grew like crazy, unemployment was so low my dog could have gotten hired at a Fortune 500 company. Quite simply, it worked.
We need to learn from past mistakes. Not just conservative mistakes, but liberal mistakes too. The liberal states in New England are in horrible shape. Here in CT, our solution was to implement the largest tax hike in the history of our state last July (and they made the increases retroactive to January 1, so we had to be double the increase for the rest of that year!), and we increased spending. Meanwhile, we continue to give public labor unions a blank check. On the federal level, liberals refuse to accept the reality (sad reality, but still reality) that we have to cut Social Security and Medicare. There literally is no choice. The math shows we will never have enough tax revenue to fund promised benefits. I wish we could solve all our problems by tweaking tax rates on zillionaires. That accomplishes nothing. But to hear Obama, you'd think that was the answer to our prayers.
Where am I wrong or unreasonable?