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#16
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That happy situation, he said, justified -- no, necessitated-- a tax cut: "The growing surplus exists because taxes are too high and government is charging more than it needs. The people of America have been overcharged, and on their behalf, I am here asking for a refund."
The next president will confront a far gloomier situation. The deficit, the administration's budget experts reported Monday, will be $482 billion -- a huge number that is probably a low-ball. Among other things, it assumes only $70 billion for operations in Iraq and Afghanistan. The best argument the Bush administration has going for it is that this number, however mind-bogglingly large it sounds, is not alarming measured the most logical way, as a share of the economy. The 2009 deficit is projected to be just 3.3 percent of gross domestic product, well below the record 6 percent in 1983. The difference is that President Ronald Reagan, facing such daunting deficits, changed course and undid about one-third of his earlier tax cuts. Bush, by contrast, is determined to insist, on his way out the door, that the tax cuts he once said were required by the surplus he inherited are now required by the deficit he is creating. I don't know what she's referring to, but that's not how I remember it. And just looking at individual tax rates, it's not true. Individual income tax rates dropped all thru the 80's, while tax brackets rose. Top corp tax rate was mostly constant at 46% Slight surtax int he mid 80's. http://www.truthandpolitics.org/top-rates.php That said, Congress and the prez together spent like drunken sailors the past 8 years....and show no signs of slowing the presses. (The young guy even wants to give us Stimulus II) Tax cut 1, ok. Tax cut 2, maybe. Tax cut 3, Unh uh! And not vetoing any bill for seven years? Surely there must have been some spending he didn't see eye to eye with. The last time the govt. and the economy tried to give us guns and butter on credit.....well, it wern't pretty. Sooner or later the check arrives at the table. Maybe we should order some of those hundred billion dollar notes like Zimbabwe's tossing around just in case inflation rears its ugly head. |
#17
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Quite frankly, I'm just shocked and horrified.(sp)
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"It's normal for these things to empty your wallet and break your heart in the process." 2012 SLK 350 1987 420 SEL |
#18
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Quote:
EDIT: Dculkin beat me to it.
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1984 300TD |
#19
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According to one of the articles I read, the worst par of her actions was that several people were placed in career jobs expressly because of their support of the party. Accordingly, the laws protecting the employment of these people will make it all but impossible to remove them from office. I hope she ultimately looses her license to practice law and spends some quality time in a Federal prison. Maybe she’ll be hired as a professor at her old law school. Disgusting sycophant. |
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