Why did Tax Revenue INCREASE.....AFTER The Bush, Reagan, and JFK Tax Cuts?

[Conservative]

Wikipedia?

Nope!! Google Recessions and see what other sites there are. then compare the results with bea.gov, bls.gov, and the Treasury. You might just learn something here

 

[Sheik Yerbuti]

- negative 6.8 GDP for Q4-2008

- 22 million underemployed

- 750,000 jobs lost in January, '09

- nearly 11 trillion in debt

- a budget dumped on with a $1.2 trillion shortfall

- worst recession since the Great Depression

- DJIA which fell from 14,000 to 8,000

- record number of foreclosures

- housing markets destroyed

- credit markets destroyed

Yet, here we are 2 1/2 years later and two years after the end of a recession and these are the results. You listed great talking points, NO evidence that this recession was the worst since the Great Depression but nice spin

Those aren't talking points, those were the conditions Obama inherited which are among the conditions which you described as "in his favor."

 

[winston53660]

Nope!! Google Recessions and see what other sites there are. then compare the results with bea.gov, bls.gov, and the Treasury. You might just learn something here

Not my responsibility to provide your sources.

 

[Sheik Yerbuti]

The article I posted disagrees with you and your ilk

No, it does not. Nowhere does the article you posted say the 1981 recession was worse than Bush's Great Recession.

It does, however, compare Bush's Great Recession with the Great Depression.

 

[Conservative]

Those aren't talking points, those were the conditions Obama inherited which are among the conditions which you described as "in his favor."

And I have posted the results 2 1/2 years after taking office. When do you start holding Obama accountable for results? A good leader would have helped create better economic results, Reagan did but then again you ignored it.

1980-1982 Recession
This was technically two recessions: the first six months of 1980 and 16 months from July 1981 - November 1982. It was partially caused by the Iranian oil embargo, which reduced U.S. oil supplies driving up prices. The Fed raised interest rates to combat inflation, reducing business spending. GDP was negative for six of the 12 quarters. The worst was Q2 1980 at -7.9%(-7.8%), the worst quarterly decline since the Great Depression. In Q1 1982, it was nearly as bad, plummeting 6.4%. Unemployment rose to 10.8% in November 1982, the highest level of unemployment in any recession. It was above 10% for 10 months.

 

[Conservative]

No, it does not. Nowhere does the article you posted say the 1981 recession was worse than Bush's Great Recession.

It does, however, compare Bush's Great Recession with the Great Depression.

Doesn't have to say it, the results do. Ever pay 17.5% interest rates for a home mortgage? How about facing a 19.33 Misery index, 10.8% unemployment?

1980-1982 Recession
This was technically two recessions: the first six months of 1980 and 16 months from July 1981 - November 1982. It was partially caused by the Iranian oil embargo, which reduced U.S. oil supplies driving up prices. The Fed raised interest rates to combat inflation, reducing business spending. GDP was negative for six of the 12 quarters. The worst was Q2 1980 at -7.9%(-7.8%), the worst quarterly decline since the Great Depression. In Q1 1982, it was nearly as bad, plummeting 6.4%. Unemployment rose to 10.8% in November 1982, the highest level of unemployment in any recession. It was above 10% for 10 months.

 

[Sheik Yerbuti]

Please, the economy wasn't even in a recession when Reagan became president.

1980-1982 Recession
This was technically two recessions: the first six months of 1980 and 16 months from July 1981 - November 1982.

Do you even realize you confirmed what I said? :lamo

 

[winston53660]

And I have posted the results 2 1/2 years after taking office.

And people have posted comparisons to other Presidents performances.opcorn2:

 

[Conservative]

Not my responsibility to provide your sources.

Sources don't matter to trollers

 

[winston53660]

Sources don't matter to trollers

You just called yourself a troller bright eyes.

 

[Conservative]

And people have posted comparisons to other Presidents performances.

The comparisons are apples and oranges. How do you compare Obama's performance to Reagan's when the Reagan economic plan wasn't even passed until August 1981 and didn't go into effect until 1982? Obama's economic plan was implemented in Feb. 2009. Bush tax cuts were passed in June 2001 four months before the end of the fiscal year and rebate checks didn't get out until the beginning of fiscal year 2002. The best comparison is what happened two years after the end of the recession that Reagan, Bush, and Obama had. Get back to me with the results.

 

[Sheik Yerbuti]

Brought to you by the department of holy ****! :doh ...

Conservative: "The article I posted disagrees with you and your ilk"

Sheik Yerbuti: "No, it does not."

Conservative: "Doesn't have to say it..."
​

Do you really think your opinion of that article carries any weight at all?

 

[Conservative]

Do you even realize you confirmed what I said? :lamo

Do you realize that the 1981-1982 recession affected a lot more people than the 2007-2009 recession because of the high interest rates, high inflation and 10.8% unemployment? Since you weren't around then you have no idea how many homes were foreclosed or the keys just thrown at the bank. You always look at the past but ignore the actual events of the past.

 

[Conservative]

Brought to you by the department of holy ****! :doh ...

Conservative: "The article I posted disagrees with you and your ilk"

Sheik Yerbuti: "No, it does not."

Conservative: "Doesn't have to say it..."
​

Do you really think your opinion of that article carries any weight at all?

1980-1982 Recession
This was technically two recessions: the first six months of 1980 and 16 months from July 1981 - November 1982. It was partially caused by the Iranian oil embargo, which reduced U.S. oil supplies driving up prices. The Fed raised interest rates to combat inflation, reducing business spending. GDP was negative for six of the 12 quarters. The worst was Q2 1980 at -7.9%(-7.8%), the worst quarterly decline since the Great Depression. In Q1 1982, it was nearly as bad, plummeting 6.4%. Unemployment rose to 10.8% in November 1982, the highest level of unemployment in any recession. It was above 10% for 10 months.

 

[Sheik Yerbuti]

And I have posted the results 2 1/2 years after taking office. When do you start holding Obama accountable for results? A good leader would have helped create better economic results, Reagan did but then again you ignored it.

And again, Reagan didn't inherit conditions nearly as bad as what Obama inherited. As I [accurately] pointed out and you confirmed, the economy wasn't even in a recession when Reagan took over.

 

[Conservative]

And again, Reagan didn't inherit conditions nearly as bad as what Obama inherited. As I [accurately] pointed out and you confirmed, the economy wasn't even in a recession when Reagan took over.

1980-1982 Recession
This was technically two recessions: the first six months of 1980 and 16 months from July 1981 - November 1982. It was partially caused by the Iranian oil embargo, which reduced U.S. oil supplies driving up prices. The Fed raised interest rates to combat inflation, reducing business spending. GDP was negative for six of the 12 quarters. The worst was Q2 1980 at -7.9%(-7.8%), the worst quarterly decline since the Great Depression. In Q1 1982, it was nearly as bad, plummeting 6.4%. Unemployment rose to 10.8% in November 1982, the highest level of unemployment in any recession. It was above 10% for 10 months.

 

[BWG]

If the guy (obama) had started with a clean slate you would have a point.

You're not supposed to remember that the previous administration almost doubled the debt.

Undoubtedly you must have BDS (whatever that is*)...LOL






*coined by ultraconservative political columnist Charles Krauthammer
other variations include PDS (Palin), CDS (the Clintons) and ODS (Obama)

Personally I like 'Baracknophobia' brought to you by John Stewart and The Daily Show

 

[pbrauer]

The article I posted disagrees with you and your ilk, yet today these are the results, 2 1/2 years later and 2 years after the end of the recession

Obama record, 15.1 million officially unemployed TODAY 2 1/2 years later, 16.2% total unemployment or underemployment over 24 million TODAY, 4 trillion added to the debt as of the end of fiscal year 2011, and a rising misery index(7.83 to 12.67).

 

[Sheik Yerbuti]

1980-1982 Recession
This was technically two recessions: the first six months of 1980 and 16 months from July 1981 - November 1982. It was partially caused by the Iranian oil embargo, which reduced U.S. oil supplies driving up prices. The Fed raised interest rates to combat inflation, reducing business spending. GDP was negative for six of the 12 quarters. The worst was Q2 1980 at -7.9%(-7.8%), the worst quarterly decline since the Great Depression. In Q1 1982, it was nearly as bad, plummeting 6.4%. Unemployment rose to 10.8% in November 1982, the highest level of unemployment in any recession. It was above 10% for 10 months.

Seems like you're stuck again. What a pity.

Let's see how much you know about recessions.

What is the number one leading indicator of a recession?

 

[Ockham]

And again, Reagan didn't inherit conditions nearly as bad as what Obama inherited. As I [accurately] pointed out and you confirmed, the economy wasn't even in a recession when Reagan took over.

Your arguement is based on subjective conditions ... it's a stupid argument to make as it's not supportable.

 

[Conservative]

You're not supposed to remember that the previous administration almost doubled the debt.

Undoubtedly you must have BDS (whatever that is*)...LOL






*coined by ultraconservative political columnist Charles Krauthammer
other variations include PDS (Palin), CDS (the Clintons) and ODS (Obama)

Personally I like 'Baracknophobia' brought to you by John Stewart and The Daily Show

Right, and we aren't supposed to report that Obama has added four trillion in less than 3 years!!

 

[Conservative]

Did you notice that the actual is higher than the projected? So what is your point? How does 2011 look?

Interesting that the 2009 and 2010 deficits all under Obama's watch are higher than anything Bush did but are ignored. Keep blaming Bush for Obama spending or fiscal irresponsibility and union bailouts

 

[pbrauer]

By the way, where is the leaderhip from obama on the debt ceiling increase and where is his plan on paper?

The debt ceiling is a crisis ginned up by the Republicans and the Teabaggers. President Obama should write an Executive Order eliminating the debt ceiling.

 

[Sheik Yerbuti]

You're not supposed to remember that the previous administration almost doubled the debt.

Undoubtedly you must have BDS (whatever that is*)...LOL






*coined by ultraconservative political columnist Charles Krauthammer
other variations include PDS (Palin), CDS (the Clintons) and ODS (Obama)

Personally I like 'Baracknophobia' brought to you by John Stewart and The Daily Show

Almost doubled the debt ...

Almost doubled unemployment ...

Almost halved the stock market ...

Worst gain in GDP since the Great Depression ...

Converted a 10 year projected surplus of $6 trillion into a 10 year projected deficit of $8 trilllion ...

Invaded a country over WMD which turned out not to be there ...

... oh, and he did nothing to even attempt to prevent 9.11, according to Conservatives, because that should have been handled by the president before him. :roll:

 

[Conservative]

The debt ceiling is a crisis ginned up by the Republicans and the Teabaggers. President Obama should write an Executive Order eliminating the debt ceiling.

LOL, Obama lacks leadership skills but isn't totally stupid, that would create a Constitutional crisis and could constitute an impeachable offense. We shall see