Thats a popular myth, however the truth is The first round of Bush Tax cuts,,,resulted in what? oh thats right the slowest years of growth in 30 years.
The first round of Bush tax cuts were part of a compromise. It's the
second round of cuts, in May of 2003, that were the so-called "tax cuts for the wealthy." And those were followed by
major growth.
I know this because part of my work at the time involved researching this, and we put a fair amount on the line by predicting that the second round of cuts would spur growth. And it did. I remember waking up that morning and hearing that we'd topped 7% annualized GDP growth in the third quarter of 2003 (I don't care how geeky this makes me sound). It was revised a couple of times (up then down, I believe), settling at something like 6.9%, which is more than double the thirty year average. We had solid growth for roughly three years after that.
Also, what's a "myth"? The idea that our tax policy towards the wealthy affects investment, or that our tax policy towards business affects employment? Because both seem pretty ironclad to me.
Greed is an immutable part of human nature, not an event that happened when baby boomers were born.
The only businesses that re-invested in America are the companies that are in the War is good business.
You're suggesting that, over the last several decades, no American companies have been reinvesting in America?
As for the ridiculous notion that the Tea Party,,this new one as financed by the Koch brothers and co-opted by dingbat Sarah Palin (not the Peter Schiff one that was all about end the fed during the Bush years)
It's not even remotely co-opted. Several people have tried, and I've been stunned at how quickly they've been bucked off. The only people who think things like this are the people who only know Tea Partiers from the occasional news blurb or video. They are extremely spread out and regionally-based, for the most part.
I didn't even expected this. I thought it was quite likely that someone would swoop in and become some sort of de facto leader, and start directing the movement a little this way or that, but I've been genuinely surprised and impressed with the degree to which the Tea Party has resisted attempts to control it. Good for them. That's what real decentralization looks like.
is all about cutting the deficit and balancing the budget, thats pure folly Chris. Where were they over 2 terms of the size of government expanding like crazy, along with 2 wars being charged on credit?
I've answered this
exact point from you before. And then I did it again like half a dozen posts ago when MattJohn said it. So I'll just summarize: 1) they
were abandoning Bush and the Republican party in huge numbers, as evidenced by his plummeting approval ratings and 2) the amount of money being spent then pales to what's being spent now, in terms of both numerical amount
and the long-term entitlement obligations it's creating.
A private company the Federal Reserve is not allowing the Government to Audit them.
does that not strike you as a bit odd? Think about that for a second.
Not really; the judiciary is appointed by government but ultimately independent, too. But the main thing I have to ask is: why is this lumped in with your other complaints? I feel like we're bouncing from topic to topic with no attempt to connect them, or any regard for whether or not I've actually disagreed with any of this. I'm not waving a Fed flag over here.