More proof goEMAW libs are economic mental midgets

[Sugar Dick]

Developments in Washington help fill the void in the economic calendar

Treasuries are lower as the equity markets are higher in early action as traders cheer the announcement that President Barack Obama has reached a preliminary agreement on extending the tax cuts for all Americans that were enacted under President George W. Bush.

How could these idiot jerks think that tax cuts will help the grow American business and consequently the economy???  It makes no sense I tell you, there's no proof that does anything!!!!!!!

[T42YS]

wut

[Sugar Dick]

not sure why the quote didn't work the first time, probably this crapty website

[steve dave]

not sure why the quote didn't work the first time, probably this crapty website

lol at you using the picture instead of the quote function and your mental midget remark blowing up in your face 

[06wildcat]

What a huge win for fiscal conservatives.

[Rage Against the McKee]

Now the deficits can continue to grow!!!

[Sugar Dick]

not sure why the quote didn't work the first time, probably this crapty website

lol at you using the picture instead of the quote function and your mental midget remark blowing up in your face 

 

Is this an abuse of the Admin function???  Fireable offense???

[steve dave]

not sure why the quote didn't work the first time, probably this crapty website

lol at you using the picture instead of the quote function and your mental midget remark blowing up in your face 

 

Is this an abuse of the Admin function???  Fireable offense???

I BACKTRACED IT!

[Sugar Dick]

not sure why the quote didn't work the first time, probably this crapty website

lol at you using the picture instead of the quote function and your mental midget remark blowing up in your face 

 

Is this an abuse of the Admin function???  Fireable offense???

I BACKTRACED IT!

  <-- notice use of picture function

[Sugar Dick]

Now the deficits can continue to grow!!!

Larger economy causes lower tax revenues???  

 

[AzCat]

Meh.  So they've decided not to push the economy completely over a cliff for two more years.  So what?  A temporary reprieve from impending doom with full a priori knowledge that said doom will come crashing down in the near future isn't going to have a significant long-term positive impact on business, investment, jobs or the economy.  Might as well take the hit now to ensure that everyone wil be able to see, once and for all, the devastating economic impact of Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!) lefty economic theories. 

[06wildcat]

Developments in Washington help fill the void in the economic calendar

Treasuries are lower as the equity markets are higher in early action as traders cheer the announcement that President Barack Obama has reached a preliminary agreement on extending the tax cuts for all Americans that were enacted under President George W. Bush.

How could these idiot jerks think that tax cuts will help the grow American business and consequently the economy???  It makes no sense I tell you, there's no proof that does anything!!!!!!!

Dow   11,359.16   -3.03   -0.03%

[AzCat]

Developments in Washington help fill the void in the economic calendar

Treasuries are lower as the equity markets are higher in early action as traders cheer the announcement that President Barack Obama has reached a preliminary agreement on extending the tax cuts for all Americans that were enacted under President George W. Bush.

How could these idiot jerks think that tax cuts will help the grow American business and consequently the economy???  It makes no sense I tell you, there's no proof that does anything!!!!!!!

Dow   11,359.16   -3.03   -0.03%

Obama giveth and Obama taketh away:

Obama’s petulance sank stocks.

Stocks were euphorically higher most of today, thanks to the unexpectedly broad tax deal the administration hammered out with the Republicans. But during his press conference, Obama’s clear anger and call to unwind the deal in 2 years opened a trap door under prices, sending them to a negative finish. We had hope, and then it changed.

[06wildcat]

  You're starting to sound like one of the people who believe Bush was an evil Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!) genius.

[AzCat]

You're starting to sound like one of the people who believe Bush was an evil Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)ed genius.

FYP 

(But not for the reasons you'll immediately believe). 

[Rage Against the McKee]

You're starting to sound like one of the people who believe Bush was an evil Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)ed genius.

FYP 

(But not for the reasons you'll immediately believe). 

Do you think he was born 'tarded, or was it the drugs?

[AzCat]

You're starting to sound like one of the people who believe Bush was an evil Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)ed genius.

FYP 

(But not for the reasons you'll immediately believe). 

Do you think he was born 'tarded, or was it the drugs?

Obviously something in the water in DC.  Duh.   

[06wildcat]

Just so we're clear, we're back to "deficits don't matter" right?

[Sugar Dick]

Just so we're clear, we're back to "deficits don't matter" right?

No, still stuck on mindless class warfare.  FYI, extending tax cuts to "all but the wealthy" is a $2-3 trillion hit to the budget.


Taxes = equal smaller economy = lower tax revenue  contra  tax cuts = larger economy = more tax revenue
Why is this so hard to understand???

[AzCat]

Just so we're clear, we're back to "deficits don't matter" right?

No, still stuck on mindless class warfare.  FYI, extending tax cuts to "all but the wealthy" is a $2-3 trillion hit to the budget.


Taxes = equal smaller economy = lower tax revenue  contra  tax cuts = larger economy = more tax revenue
Why is this so hard to understand???

Give 'em a break.  I don't even think they know that they're Marxists.   

[06wildcat]

Just so we're clear, we're back to "deficits don't matter" right?

No, still stuck on mindless class warfare.  FYI, extending tax cuts to "all but the wealthy" is a $2-3 trillion hit to the budget.


Taxes = equal smaller economy = lower tax revenue  contra  tax cuts = larger economy = more tax revenue
Why is this so hard to understand???

It's logical that high taxes can depress an economy, just as it's logical that low taxes can actually lower government receipts. Bell curves how the eff do they work.

http://www.factcheck.org/taxes/supply-side_spin.html

“Federal revenue is lower today than it would have been without the tax cuts,” Alan D. Viard of the conservative American Enterprise Institute told the Washington Post last October. Viard, who worked in the Treasury Department’s Office of Tax Analysis and the White House’s Council of Economic Advisers under President Bush, told FactCheck.org that “nobody can absolutely prove that.” Proof would require time travel and a reversal of tax policy. “But among economists, there’s no dispute.”

[AzCat]

Just so we're clear, we're back to "deficits don't matter" right?

No, still stuck on mindless class warfare.  FYI, extending tax cuts to "all but the wealthy" is a $2-3 trillion hit to the budget.


Taxes = equal smaller economy = lower tax revenue  contra  tax cuts = larger economy = more tax revenue
Why is this so hard to understand???

It's logical that high taxes can depress an economy, just as it's logical that low taxes can actually lower government receipts. Bell curves how the eff do they work.

http://www.factcheck.org/taxes/supply-side_spin.html

“Federal revenue is lower today than it would have been without the tax cuts,” Alan D. Viard of the conservative American Enterprise Institute told the Washington Post last October. Viard, who worked in the Treasury Department’s Office of Tax Analysis and the White House’s Council of Economic Advisers under President Bush, told FactCheck.org that “nobody can absolutely prove that.” Proof would require time travel and a reversal of tax policy. “But among economists, there’s no dispute.”

You are such a Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!).

[06wildcat]

Just so we're clear, we're back to "deficits don't matter" right?

No, still stuck on mindless class warfare.  FYI, extending tax cuts to "all but the wealthy" is a $2-3 trillion hit to the budget.


Taxes = equal smaller economy = lower tax revenue  contra  tax cuts = larger economy = more tax revenue
Why is this so hard to understand???

It's logical that high taxes can depress an economy, just as it's logical that low taxes can actually lower government receipts. Bell curves how the eff do they work.

http://www.factcheck.org/taxes/supply-side_spin.html

“Federal revenue is lower today than it would have been without the tax cuts,” Alan D. Viard of the conservative American Enterprise Institute told the Washington Post last October. Viard, who worked in the Treasury Department’s Office of Tax Analysis and the White House’s Council of Economic Advisers under President Bush, told FactCheck.org that “nobody can absolutely prove that.” Proof would require time travel and a reversal of tax policy. “But among economists, there’s no dispute.”

You are such a Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!).

LOL... Yes, Vicard's point about economists agreeing that tax revenue would have been higher from 2003-present than it currently is under Clinton's tax policy is a fallacy of correlation.
He definitely wasn't referring to this:

TaxFoundation.org article:
Cutting marginal tax rates on labor would have a larger feedback effect in terms of additional economic activity being generated than these credits/rebates, especially because of the progressivity of the federal income tax code which means we rely on the more pro-cylical income of high-income individuals, but labor is still fairly inelastic nationwide, meaning the tax cuts on ordinary income at their given rates would still cost the Treasury revenue.

Yes, taxes derived from capital gains did skyrocket during this same period to cover up or offset some of the losses from decreased income taxes. But that raises a whole different set of issues.

[Sugar Dick]

When cut and paste goes awry

[AzCat]

Obama has apparently found some new economists:

Economists said the overall package would stimulate the economy not by pumping in new money, as did the Recovery Act, but by ensuring money already going to Americans via the Bush tax cuts and the earlier stimulus spending is not cut off. White House economic experts told lawmakers that the gross domestic product could rise by at least 1 percentage point and unemployment could improve with up to 2 million new jobs. Without the package, senators were told, the economy could contract.

So ... Bush does it and economists uniformly agree that it has no positive impact on the economy.  Obama extends it and, amazingly, economists now note that it has a massive positive impact on the economy.  Politics as usual, carry on.