Originally posted by Bobboau
so you realy don't think that loseing 3000 people and a major world finantial center, not to mention the whole 'were under atack' mind set had nothing at all to do with the economy going down, not to mention that the down run in the economy started about 6 months before the 2000 elections (interestingly it seemed to start when it seemed that Bush was going to get the republican nomination), and that a whole bunch of economic scandals blew up that had been simmering sence well into the clintan administration, now I'm not saying that his policys are godlike in there amazing powers to restore the economy, but I don't think the tax cuts were the major factors in the economic downturn we experienced over the last few years, especaly seeing as the economy has recovered and stablised for the most part (I think his polocys had little to do with that)
Let us consider this line of reasoning.
Sept11 caused the downturn in the economy. Hey, I can buy that. The 3000 people were inconsequential financially, but the loss of business might have had something to do with the downturn. Arguably, had Bush not cancelled funding for Clinton's intelligence and anti-terrorism programs during his first week in the White House, we would still have the World Trade Center. The FBI knew about foreign nationals in American flight schools. They had actually arrested Zacharias Mousoui before the planes hit the towers. The Republicans fought hard against Clinton's anti-terrorism programs when they were proposed after the first attack on the WTC (does anyone else remember that one tower was a story or two shorter than the other because of a truck bomb). They fought the funding even after the USS Cole was hit. Bush just followed party line when he killed the program and ignored antiterrorism activities entirely until Sept 11.
HOWEVER, that still does not answer how an accellerating budget surplus was turned into an accellerating budget deficit. Bush took charge of the White House with a surplus of over 200 BILLION USD. The following year, he had cut that back to just over a 100 BILLION USD. In 2002, he furthered this trend by taking us to a deficit of over 150 BILLION. 2003 saw it drop down to a 350 BILLION deficit. The projection for 2004 is nearly 500 BILLION dollars. That's half a TRILLION. This is the biggest single year budget deficit in the history of the country (even if you adjust for inflation) and the FASTEST growing deficit in the history of the country. Even World War 2 AND the reconstruction of Japan and Germany didn't rape this country's economy the way Bush Jr. has done. Besides anything else: if the WTC was so entrenched in the world economy, why has no other country seen as great a per-capita downturn in its economy as the US? I really think it is disingenuous to claim the WTC is enough to explain a 600 BILLION USD shift in the budget, or the massive loss of jobs we saw over the last three years.
now as for the 'tax cuts for the rich' thing, it was basicly a flat tax cut, the rich people got the same percentage of there taxes back as the poor people, wich yes means that they get more grose money back, but I don't think that means that they got more of there money back, given that it was about the same percentages, if I'm wrong give me some numbers to corect me
Interesting concept: a flat rate tax cut. There's just one problem: It wasn't. The bottom 60% of the nation (for those keeping score, that's 171 million people) took back an total of 39.9 billion dollars. The top 1% of the nation (2.85 million people) took back a total of 91.1 billion dollars. When you compare these number to the pre-cut numbers some interesting things emerge. The bottom 60% of the nation recieved a tax cut of about 17%. That's a pretty nice number. The top 60% however, recieved a total tax cut of about 62%.
Now, where I went to school 17% and 62% do not work out to a "flat tax cut". By far and away, the top 1% of the nation saw nearly FOUR TIMES as much tax relief (percentage wise) over the bottom 60%.
These numbers take into account more than just income tax cuts though. They take into account estate tax cuts and capital gains tax cuts as well. Lets take these numbers away and just look at pure income tax cuts. If we do that, the bottom 60% of the nation recieved a nice 22% cut from Bush. Again, not a bad number. However, the top 1% of the nation recieved a 50.2% tax cut. That's still nearly twice as much as the bottom 60% recieved. Somehow, this doesn't seem to add up to a flat tax cut either. 22% != 60%.
I'm sorry, Bob, you're wrong on both counts.