10 years ago today...

[RunInRed 16,994]

We interrupt the debt ceiling debate for a reminder from the recent past (10 years ago today)...

Hmmm...

And the results...

Tax cuts! More tax cuts!

Carry on.

[au2004ece 30]

That analysis assumes economic growth is the same regardless of the tax rate because they are calculating the cost of the tax cuts based on current economic realities. The current economy could be much worse if we had higher taxes for the last ten years. You have to account for the lower revenue resulting from an even worse economy caused by higher taxes when you calculate the cost.

[Auburn85 434]

RiR, are you for ending the tax cuts on everyone or just the top two income brackets?

Top two income brackets: $70 billion 1yr/ $700 billion 10yr

Everyone else: $300 billion 1yr/ $3 trillion 10yr

[bigsixfive 336]

Here's one with factual data:

[Grumps 3,706]

It's STILL all Bush's fault. I bet that Bush is the reason that Obama can't guarantee that senoirs will get their Social Security checks on August 3rd.

[RunInRed 16,994]

RiR, are you for ending the tax cuts on everyone or just the top two income brackets?

Top two income brackets: $70 billion 1yr/ $700 billion 10yr

Everyone else: $300 billion 1yr/ $3 trillion 10yr

As I've stated before, I would be in favor of returning to the tax levels of the 90s -- across the board. It was one of the fairest and most prosperous economy we've ever had.

BTW - Thank you for putting the hard numbers out there ... $3.7 Trillion.

[bigsixfive 336]

You're crediting high taxes for economic growth due to the internet boom?

[RunInRed 16,994]

Last time I checked, Google and Apple were still creating jobs. The growth associated with the housing boom in the 2000s on the other hand...

[bigsixfive 336]

What caused the housing bubble?

[arnaldoabru 11]

What caused the housing bubble?

Call your buddies at Goldman Sachs,lehman bros, aig,Bank of America, Bear Stern, Moody's, Countrywide, Taylor, Bean, Whitaker, Merill Lynch, Alan Greenspan, Fannie and Fredie, etc....

[arnaldoabru 11]

Here's one with factual data:

Does the Heritage Foundation have a chart for RomneyCare?

[cptau 169]

Here's one with factual data:

Does the Heritage Foundation have a chart for RomneyCare?

Don't know if they have a chart, but the Massachusetts' economy probably has not been all that great since the war of 1812.

[Tigermike 3,426]

What caused the housing bubble?

Call your buddies at Goldman Sachs,lehman bros, aig,Bank of America, Bear Stern, Moody's, Countrywide, Taylor, Bean, Whitaker, Merill Lynch, Alan Greenspan, Fannie and Fredie, etc....

For some reason you left Barney Frank, Cris Dodd & Joe Biden of the list. Why was that?

[arnaldoabru 11]

What caused the housing bubble?

Call your buddies at Goldman Sachs,lehman bros, aig,Bank of America, Bear Stern, Moody's, Countrywide, Taylor, Bean, Whitaker, Merill Lynch, Alan Greenspan, Fannie and Fredie, etc....

For some reason you left Barney Frank, Cris Dodd & Joe Biden of the list. Why was that?

I'm not sure their greed was as up to par as the others

[Tigermike 3,426]

What caused the housing bubble?

Call your buddies at Goldman Sachs,lehman bros, aig,Bank of America, Bear Stern, Moody's, Countrywide, Taylor, Bean, Whitaker, Merill Lynch, Alan Greenspan, Fannie and Fredie, etc....

For some reason you left Barney Frank, Cris Dodd & Joe Biden of the list. Why was that?

I'm not sure their greed was as up to par as the others

No their greed using Fannie & Freddie as an instrument of their welfare agenda is what pushed the country into the mess we are in today.

And they still want more.

[arnaldoabru 11]

What caused the housing bubble?

Call your buddies at Goldman Sachs,lehman bros, aig,Bank of America, Bear Stern, Moody's, Countrywide, Taylor, Bean, Whitaker, Merill Lynch, Alan Greenspan, Fannie and Fredie, etc....

For some reason you left Barney Frank, Cris Dodd & Joe Biden of the list. Why was that?

I'm not sure their greed was as up to par as the others

No their greed using Fannie & Freddie as an instrument of their welfare agenda is what pushed the country into the mess we are in today.

And they still want more.

But not Goldman Sachs, Wells Fargo, Bear Sterns, Lehman Bros, Bank of America, Chase, Citigroup, AIG, Countrywide, Taylor Beak and Whitaker,........

[au2004ece 30]

Last time I checked, Google and Apple were still creating jobs. The growth associated with the housing boom in the 2000s on the other hand...

The housing boom was created by government intervention through incentives for home buyers, low interest rates by the federal reserve, and government subsidized mortgage insurance for the lenders. Google and Apple are private companies that haven't been cursed with government "help" yet.

[arnaldoabru 11]

Last time I checked, Google and Apple were still creating jobs. The growth associated with the housing boom in the 2000s on the other hand...

The housing boom was created by government intervention through incentives for home buyers, low interest rates by the federal reserve, and government subsidized mortgage insurance for the lenders. Google and Apple are private companies that haven't been cursed with government "help" yet.

You have no idea of what the housing/loan boom was about

[au2004ece 30]

Last time I checked, Google and Apple were still creating jobs. The growth associated with the housing boom in the 2000s on the other hand...

The housing boom was created by government intervention through incentives for home buyers, low interest rates by the federal reserve, and government subsidized mortgage insurance for the lenders. Google and Apple are private companies that haven't been cursed with government "help" yet.

You have no idea of what the housing/loan boom was about

I'm sure you believe it was solely caused by the greed of lenders that took advantage of stupid people and gave loans to folks who could not pay and then sold those loans or derivatives of them to other greedy investors. Well, those people would not have wanted homes and lenders would not have wanted to lend and investors would not have wanted to buy mortgage derivatives without the government intervention i described above that artificially increased house values.

So, yeah we had greedy lenders and stupid borrowers (who are never blamed for some reason), but it was the government that bastardized the market enough to bring way too many of each of those together so that a disaster could result.