1. Obama's stimulus was the reason we prevented a second Great Depression. This is based on the fact that GDP is now going up and unemployment numbers are starting to (slowly) drop. Paul Krugman attributes that to spending. He argues a lack of spending would have caused our economy to stop working and would have definitely dropped us into a second great depression.
2. Bush's tax cuts didn't do anything effective except to make the rich richer. According to the NYT, for the first time since the great depression, the American economy has added virtually no jobs in the private sector over the last ten years. Since the two massive tax cuts passed by Bush and his Republican congress, private sector jobs have actually fallen.
Professor Emmanuel Saez at Berkeley just released a paper showing that the top tier of American wage earners greatly accelerated their wealth during Bush's reign while everyone else suffered.
"As of 2007, the top decile of American earners, Saez writes, pulled in 49.7 percent of total wages, a level that's 'higher than any other year since 1917 and even surpasses 1928, the peak of stock market bubble in the 'roaring' 1920s."
Despite a rising stock market, largely growing employment and a historic housing boom things were not nearly so rosy for the rest of U.S. workers. This trend, according to Saez, only accelerated during the George W. Bush's tenure as President:
"...while the bottom 99 percent of incomes grew at a solid pace of 2.7 percent per year from 1993-2000, these incomes grew only 1.3 percent per year from 2002-2007. As a result, in the economic expansion of 2002-2007, the top 1 percent captured two thirds of income growth."
Yet more evidence for Doonan that a rising Dow means jack shit as far as the economy is concerned.
Face it. Bush just gave lots of the money to the rich while throwing our economy down the toilet. I hope you Republicans are happy.
the points about Bush are probably valid, but Obama is NOT helping shit and you shouldn't think that he is. he is on track to be a worse president than Bush if he keeps it up.
the points about Bush are probably valid, but Obama is NOT helping shit and you shouldn't think that he is. he is on track to be a worse president than Bush if he keeps it up.
jim
his rating sure as hell prove that point..but douchey mc douche will never concede that and detach himself from obamas nuts
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Texas' first DCR SRT TT 11.30@126.02
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531hp 450tq 5 spd
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Quote: Originally Posted by stowaway
Dear mightyxwhitey53,
You have received an infraction at SRT Forums - SRT4, SRT6, SRT8, SRT10 & Dodge Forum.
Reason: Bashing a 'tard
Different polls will show different results , But Bush's ratings were in the mid 20s . At a brief 46% approval rating , two weeks ago , That went right back up to 49-50% , Obamas numbers are much better that Bush's .
So , while Obamas numbers arent great for a first year , they dont come close to Bush's disapproval numbers , so your kinda wrong .
Lets not forget , the top 1% richest people own 50% of the nations financial investments . so when George Bush Jr threw a trillion dollars at the financial industry , 500 billion went directly into saving the financial investments of the top 1% of the rich fucks . Poor rich people really needed that bailout .
And you can say that Trickle-Down Economics are the reason that such actions are justified . I say BULLSHIT !
The first word in Trickle-Down Economics is TRICK .
I dont think that I should be satisfied with the scraps that fall out of the corners of the mouths of the rich . I deserve better , And so do you .
Have a good weekend guys .
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Last edited by apexcrazy : 08-14-2009 at 03:13 PM.
SRTOWNS you really are a douche, you quoted from a known left wing news source that has an obvious agenda and think that that proves that the dow has nothing to do with the economy. Are you retarded, even the quote you used stated that there was growing employment. Oh no it wasn't as "rosy" as it seems. Well dick head unemployment has still risen under obama to recent record highs. It's still rising. Oh it could always be worse I'm sure but just because Krugman says it's not as bad as it could be doesn't mean shit. It means that Krugman is a douche swinging from the nuts of Obama. Come on Income inequality? Talk about code words. Class warfare anyone?
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I'd vote for a fuc King Penguin before voting Democrat!
BTW you have not provided any other evidence to prove your point. So how can you use the word MORE? I also think it's funny that you used the dow when referencing the economy during dem presidents. Why don't you refute the unemployment figures I posted? Oh because then you'd have to think for yourself.
his rating sure as hell prove that point..but douchey mc douche will never concede that and detach himself from obamas nuts
to quote spiderman 3
"Once these venomous parasites bind, unbinding is a challenge"
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'conspiracy theorist' is a label used by the elite to dismiss the fact powerful people get together and actually plan anything.
"Single acts of tyranny may be ascribed to the accidental opinion of a day. But a series of oppressions, begun at a distinguished period, and pursued unalterably through every change of ministers (administrations), too plainly proves a deliberate systematic plan of reducing us to slavery." - Thomas Jefferson
the points about Bush are probably valid, but Obama is NOT helping shit and you shouldn't think that he is. he is on track to be a worse president than Bush if he keeps it up.
jim
Jimmy Carter is saying: Finally, someone worst than me! And Clinton is a amateur at lying compared to Obama.
Different polls will show different results , But Bush's ratings were in the mid 20s . At a brief 46% approval rating , two weeks ago , That went right back up to 49-50% , Obamas numbers are much better that Bush's .
So , while Obamas numbers arent great for a first year , they dont come close to Bush's disapproval numbers , so your kinda wrong .
Lets not forget , the top 1% richest people own 50% of the nations financial investments . so when George Bush Jr threw a trillion dollars at the financial industry , 500 billion went directly into saving the financial investments of the top 1% of the rich fucks . Poor rich people really needed that bailout .
And you can say that Trickle-Down Economics are the reason that such actions are justified . I say BULLSHIT !
The first word in Trickle-Down Economics is TRICK .
I dont think that I should be satisfied with the scraps that fall out of the corners of the mouths of the rich . I deserve better , And so do you .
Have a good weekend guys .
i never said bush ratings stayed higher than obamas, merely that during his first year in office, his are higher than the great ones...all this hype and his is a miserable failure
We, will know for sure how good or bad Bush's tax cuts where soon enough. They will expire next year, then the rich will get hit with taxes to cover health care and cap and trade. And everyone one will be paying more taxes as the value of our dollar drops and interest rates climb. It's going to be a fun time.
What where the tax rates before Regan cut them? We should go back to those rates. That would turn this country around fast.
That second link is interesting. I keep hearing how Bush cut taxes for the rich. But, for some reason you don't hear about 33% cut in tax rate to the lowest income people in 2001. And how even though he cut capitol gains taxes, the capitol gain revenue went up.
I bet the 91% tax rate in 1964 before Kennedy cut them was fun to pay. Imagine getting paid 1000 dollars and the gov. takes 910 of that. Wow.
We, will know for sure how good or bad Bush's tax cuts where soon enough. They will expire next year, then the rich will get hit with taxes to cover health care and cap and trade. And everyone one will be paying more taxes as the value of our dollar drops and interest rates climb. It's going to be a fun time.
What where the tax rates before Regan cut them? We should go back to those rates. That would turn this country around fast.
That second link is interesting. I keep hearing how Bush cut taxes for the rich. But, for some reason you don't hear about 33% cut in tax rate to the lowest income people in 2001. And how even though he cut capitol gains taxes, the capitol gain revenue went up.
I bet the 91% tax rate in 1964 before Kennedy cut them was fun to pay. Imagine getting paid 1000 dollars and the gov. takes 910 of that. Wow.
what good does cutting taxes do? high taxes or low taxes, we're still going to be facing hyperinflation. taxes does absolutely nothing to our debt to the federal reserve. They won't 'cover' cap and trade, they won't 'cover' health care. In fact, taxes don't even go to our federal government, nor do they pay for government services. AT ALL. That is an illusion. All they do is pay off the interest owed to the private central banks for fake money they printed.
what good does cutting taxes do? high taxes or low taxes, we're still going to be facing hyperinflation. taxes does absolutely nothing to our debt to the federal reserve. They won't 'cover' cap and trade, they won't 'cover' health care. In fact, taxes don't even go to our federal government, nor do they pay for government services. AT ALL. That is an illusion. All they do is pay off the interest owed to the private central banks for fake money they printed.
Those links and speculations are garbage.
I wasn't really trying to say tax cuts will help us now. But, they clearly worked in the past, and saying they didn't is just wrong. Personally I don't think anything is going to help us now, for the very reasons you posted. IMO we are screwed. And I consider my self a optimist.
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Some proof that Bush's tax cuts were an epic failure
11.30@126.02
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