The Truth is Bush's tax cuts for the wealthy are CURRENTLY in effect. Have they prevented this recession? Because of them are businesses creating more jobs? OF COURSE NOT! The loss in revenue from these tax cuts have created trillion dollar deficits and have not produced any new jobs whatsoever.
John Bainer is an idiot.
and is INESCAPABLE!!!
Hey, Barack, first of all-that Affordable Housing mania that you and your fellow left-wing Democrats pushed was a primary factor behind the collapse of the economy. Bush and the Republicans tried and failed to get a handle on what Freddie Mac and Fannie Mae were doing and you and Democrats (such as Barney Frank and Christopher Dodd) put a roadblock up to stop those efforts (there is a road analogy for you).
Secondly, America doesn't see you sweating much-unless those muggy Washington days are getting to you out on the links or you have a tough game on the court. How much sweating have you done during your numerous vacations and musical soirees in the East Room of the White House? But I guess if you do sweat you can always chalk that up to global warming!
Who is sweating, Barack? I will tell you : the unemployed millions your policies have harmed, the seniors who are relying on a strong economy and the free enterprise system to cover their retirements that are damaging; the people who fear layoffs because your wealth redistribution schemes and profit killing plans are killing the job market.
You watch Fox too much. They never told you about this legislation, introduced the first year after the Dems won the House. (The Repubs controlled the Senate during the entire Bush admin.)
Comprehensive Mortgage Reform and Anti-Predatory Lending Legislation Introduced in the House.
<<...Second, the new legislation will set a minimum standard for all mortgages which states that borrowers must have a reasonable ability to repay.>>
Furthermore, Frank had pushed for years for some form of rental assistance for people who couldn't afford ownership.
No, the "everyybody should own a house" was part of the "ownership society" push.
Sure the rich pay more taxes. They aren't just scraping by like the bottom 50% of the population, who control less than 3% of the nation's wealth. Median income DECLINED by $2,500 during the Bush years. The Republican supply-side "trickle-down" economy has devastated the middle class. Yes, Virginia, there is class warfare, and there has been significant redistribution of wealth from the poor/middle classes to the wealthiest Americans.
Maybe then, they should remove some of the write offs that you small business owners love so much. Instead of just taxing those of us who make money and can't lie about deductions on our taxes.
That is because you have a business. I don't have a business. Mine is earned income from employment. Not all high wage earners are small business owners with the ability to write off things that the rest of us have to classify as living expenses.
Maybe you need a new accountant. I own several small businesses and it's relatively easy to write down the profits from those businesses to a few thousand dollars every year.
You don't hear small business owners complaining about paying too much in taxes. The problem is weak demand for their products and services. That's the problem they've got to fix.
I find it difficult to accept George Bush as the cause of the economic downturn.
Let's look at the facts:
1. Who was the majority party in Congress?
The Democrats controlled both houses.
2. Who writes the Legislation and is in control of its being approved. The leadership of Congress - the Democrats!!!
Thus. one can easily conclude that the Democrats drove this economy into recession and now are giving it its final KILL!
Who authored the banking legislation that created the mortgage mess, Chris Dodd and Barney Frank.
Pelosi and her cronies have first cut the wrists, now the jugular and if Mr. Barak Hoover Buchanan Obama has his way it will be a Coup de grâce right on the forehead!
She became speaker in 2007, just one year before the previous administration drove the economy over a cliff.
Actually, I don't blame George Bush. He was just a front guy whose strings were being pulled by big business pundits in smoke filled rooms.
Maybe your girl Sarah Palin will come through for you in 2012.
Al the dems took control over the house and senate in 2006. Bush was a lame duck. Franks Doddd,pelosi and reid took over completely in 2006. Two years BEFORE obama took over and gave those idiots free rein.
Why don't we just cut the taxes to zero for the poor and raise the taxes to 75% for the rich? That will give Obama the welfare state that he wants...let's dummy up the population, put everyone on social programs and discourage anyone who is smart, motivated, or entreprenurial from making money. We will all be a bunch of lazy morons and then he will have his voting base for the next election.
Maximum tax bracket in the 1950's was indeed 75%. That decade was the highest growth rate this country has ever had.
My preference would be a 10% flat tax rate, but don't hold your breath cause millionaires and billionaires that don't pay any taxes under the current system would then have to pony up.