Republican Tax-Cutting Track Record

I’m not a fan of taxes like everyone else, but if you like things like roads and bridges, schools and teachers, police and firefighters, etc, then you know they are a necessity. Our country cannot survive without them. We already see the effects of slash and cut politics all over the country at local and state levels. 

In order to grow our economy, everyone needs to pay, and right now not everyone is. The wealthy and corporations are seeing the lowest tax rates in 50 years. GOP’s record on their push for maintaining tax cuts, tax subsidies (corporate welfare), and their triple down economics theory has been proven not to work over and over and over. 

In 1982, conservative Republicans said Reagan’s tax increases would cause a disaster (they didn’t).  

In 1993, conservative Republicans said Clinton’s tax increases would invariably fail (they didn’t). 

In 2009, conservative Republicans said Obama’s stimulus would make the economy worse (it didn’t). 

And in 2001, conservative Republicans said Bush’s tax cuts would cause a remarkable economic boom (they didn’t). 

In 2003, these same conservative Republicans said more Bush tax cuts would do the trick (they didn’t).  

In 2010, these same conservative Republicans said if we could just keep those Bush tax cuts around a little more, we’d be amazed at the economic turnaround in 2011. Here we are. I don’t think anyone’s amazed. 

Ezra Klein wrote the other day “that the Republican approach to tax policy is no longer based on any recognizable economic theory.” America, over the past 2-1/2 years, have been held hostage by radical Republicans at every step of the way.

It is way past time to call their bluff since it is all too apparent they have no intention of doing anything to help out the 99% of us that are not mega-wealthy or a corporation/industry.

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3 responses to “Republican Tax-Cutting Track Record

  1. In order to grow our economy, everyone needs to pay, and right now not everyone is.

    51% of Americans are Federal Tax consumers. That is, more than 1/2 of America TAKES more money from the Federal Government than they contribute.

    The rest of the 49% are supporting that 51%. Specifically the very rich, the millionaires and the billionaires….the amount of money they contribute FAR exceeds their “fair share”.

    Question: Can you answer me what is “fair share” and how the rich aren’t paying it?

    • I go back to what we debated a month or so ago. The poorest of Americans do pay taxes, i.e., payroll taxes, state related taxes, etc, etc. Whereas the top 1% have an effective tax rate of 13 to 17% but what I feel you are not grasping is that the vast majority of their income does not come from getting a payroll check every other week. They pay basically no payroll taxes and protect the majority of their income from taxes by loop holes, off-shore protection/investing over seas so it can’t be taxed.

      On top of this, GOP are now wanting to cut social services to the people that had nothing to do with our current financial crisis. Our schools, infrastructure, police/fire services are being cut and costs of healthcare, food, etc all going up on top the cuts they want to create. This is putting the responsibility of the Wall Street meltdown, etc squarely on the middle and lower classes.

      By the way, middle and lower classes have seen negative growth in their income over the last decade but the top 1% have seen triple digit growth. Add to this that the tax cuts Bush gave the last decade created only about 1 million jobs. Bureau of Labor Statistics data shows during the Bush presidency, net total employment went up by 1.08 million jobs.

      Definition of insanity: Doing the same thing over and over again and expecting different results.

      • The poorest of Americans do pay taxes, i.e., payroll taxes, state related taxes, etc, etc.

        But the good man Barack Obama doesn’t have the control of those taxes. He is talking Federal Taxes. And THOSE taxes are negative for a majority of Americans. Thank about that.

        The Imperial Federal Government of the United States of America confiscates money from a minority of Americans and GIVES that money to a larger majority.

        GOP are now wanting to cut social services to the people that had nothing to do with our current financial crisis.

        The debt and deficit have nothing to do with the recession.

        This is putting the responsibility of the Wall Street meltdown, etc squarely on the middle and lower classes.

        I disagree Angela. Only if you are making the claim that the bank bailouts, and auto bailouts and Fan and Fred bailouts, are part of the deficit can you make that claim. And I don’t think that you are.

        By the way, middle and lower classes have seen negative growth in their income over the last decade

        Would you continue to work at your current job if they didn’t heat the building? Or provide retirement programs? Or paid vacation? Or sick days? Or training? Or coffee?

        While it may be true that the wages, the paycheck itself, has remained flat, the total compensation being off erred those people has risen dramatically. Further, what people can buy with that money has gone up too.

        Bureau of Labor Statistics data shows during the Bush presidency, net total employment went up by 1.08 million jobs.

        That is a clever use of numbers. The recession was a long time in coming and shouldn’t be used to gauge the success or failure of tax policy. One doesn’t impact the other.

        Anyway.

        When it comes to the rich, what is their fair share? What amount is too much. What amount of money can be taxed from these people before even the most Liberal Democrat would puke?

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