You focus on the 700 billion and ignore the OVER TEN YEARS. It is a load of money, but with the way Bush Spent, and the way Obama spends it is a drop in the bucket. It is far better to have that money working in the economy than being muddled in government inefficiency. And another thing, the CBO is great at reporting the past but horrid at projecting the future. Independent reports have placed the 700 billion over ten years as low as 200 billion and as high as 1.4 trillion. So the 700 billion number is kind of meaningless. We simply do not know how the post 9/11 economy would have grown without the tax rates.
My info was credible. I'm talking per year. Take money from job creators and give money to those who don't work. Yeah. That's the ticket.
That is not the issue, of course. There are few that get money for not working. Talk about a drop in the bucket. Being rich doesn't make anyone a job creator. The stats show that they just swelled their hoard with it. Middle class tax breaks get spent immediately and helps consumer spending which is 70% of our economy and which is THE REAL JOB CREATOR.
But the Bush tax cuts have been in place for ten years already. That $700 billion is already lost and is NOT a projection.
Of course it is a projection. You have to make assumptions about how economic activity would have been different to determine what the "lost collections" would have been. The CBO put it at 700 billion, but there are studies from liberal and conservative think tanks that have wildly different numbers.
What do you think happens to that "swelled horde." Do you suppose they invest some of it? Do you think they spent some of it? Do you suppose they save some of it in banks? What do the banks do with the deposits? Do they sit on them or do they loan them out? There are two things that can be done with money that don't create jobs. One is burying it in the back yard and the other is sending it to the government.
Red pictures the rich as that old cartoon of a big obese man in a tophat sitting atop a huge bag with a dollar sign opn it. His hatred borders on the obsessive. Someone rich must have done a number on him.
And if I have two choose between those two I choose to bury it in the back yard. The absolute worst thing you could do is send it to the government.
You know quite well that investment doesn't produce many jobs. That's the whole argument. trickle-down, supply side economics don't work. They never have.
It's got nothing to do with hatred, as much as you try to paint it that way. It's a matter of tax fairness and the best interests of the nation. I've spelled out my logic time and time again and there is nothing hateful about it. You just got nuthin' to argue with except desperate attempts to discredit me. Good luck with that. Even the rich say that they don't need the tax breaks.
