Originally posted by FeceMan
See, I don't like paying taxes. Therefore, cut taxes.I also don't like national debt. Therefore, raise taxes.
(Damn.)
And the magical third option people tend to overlook, lets cut costs at the Govt level.
Of course we can just pour more money at the problem and allow gross overspending.
I think Democrats and Republicans are too wrapped up in wanting to be right and wanting to have power that they don't realize that the best solutions to todays problems are a compromise between their views.
Like the War on Terror. We can't just pull all our men out and let them have a civil war for the next ten years, but I don't think we need to become any more involved there than we need to be.
Originally posted by BadabingAnecdotal evidence is a logical fallacy. The U.S. recovery from the 2001-2002 recession that never was, has been worse than any other recovery in a business cycle. Other than your own personal incredulity and a few articles in U.S. dailies you've given absolutely nothing to show that these tax cuts have had any significant effect on growth, because they haven't.
No, the tax cuts helped create and economic evironment for growth. It's a matter of fact that the economy is growing and doing well. If you were only IN the USA to witness things first hand. 😉
Originally posted by xmarksthespot
Anecdotal evidence is a logical fallacy. The U.S. recovery from the 2001-2002 recession that never was, has been worse than any other recovery in a business cycle. Other than your own personal incredulity and a few articles in U.S. dailies you've given absolutely nothing to show that these tax cuts have had any significant effect on growth, because they haven't.
Hey, do you get extra credit for your charts and graphs. 😉
Four of those are the same four you keep posting over and over again. 😐 Well done for finding three more news stories. Superficial and as you so eloquently put earlier, myopic.
Economic projections based on CBO and OMB, and historical economic analysis shows no significant effect of tax cuts on growth.
Originally posted by xmarksthespot
Four of those are the same four you keep posting over and over again. 😐 Well done for finding three more news stories.Economic projections based on CBO and OMB, and historical economic analysis shows no significant effect of tax cuts on growth.
Here's one from the Far Left New York Times.
http://www.washtimes.com/commentary/20031101-101810-9871r.htm
A couple points. I said the economy is strong despite the setbacks of 9/11, Katrina and the War on Terror which is a Miracle in itself. The Stock Market, GDP and unemployment rate are all solid. After two disasters, war in Afghanistan, uncertainty with the War on Terror and war in Iraq, the USA economy has shown remarkable resiliency. I'll see you GDFers tomorrow. God Bless. 😎
PS - I forgot to post a blurb about the original thread topic. 😮
I believe that the Democrats have a chance to shine and show what their party can bring to the table. I hope that they make the most of this opportunity. I think they'll need to work with the Bush Administration, listen to the public and find common ground to make use of there control of Congress. I can only Pray that it happens.
And I've figured you haven't read a single thing I've posted either. So I do suppose we're even.
Far left NY Times? Notwithstanding the U.S. perspective or what is "far left" is thoroughly skewed, your link goes to "The Washington Times", a conservative leaning paper.
Attributing weakness in the U.S. economy purely to external effects, and attributing any strength to tax cuts is perhaps the most slanted of economics.
The stock market? Already addressed.
GDP growth, not significantly improved by tax cuts, as already shown.
Additionally:
Housing weakness slows economy
by EPI economist L. Josh Bivens, Oct 27 2006
The Bureau of Economic Analysis (BEA) reported today that gross domestic product (GDP) in the U.S. economy grew 1.6% in the 3rd quarter of this year, down from 2.6% in the previous quarter. This is the slowest growth rate since the first quarter of 2003, and this also brings the average for the past year below 3% for the first time since 2003. A large drag on growth in this quarter came again from the weak housing sector, with residential investment falling by over 17%, subtracting 1.1% off total GDP. The housing sector and its persistent weakness continue to grow as macroeconomic concerns: both its growth rate and its share of total GDP have been in recent sharp decline (see the chart below).
The personal savings rate remained negative for the 6th consecutive quarter (-0.5%). Domestic demand growth was essentially unchanged from the previous quarter, rising to 2.1% from 2.0%. A key measure of core prices (the "market-based" deflator for personal consumption expenditures, minus food and energy) slowed in the latest quarter, rising 2.0% compared to 2.6% growth in the previous quarter.
Fast growth in consumption expenditures (especially autos) added 2.13% to growth, while government expenditures (led by state and local spending) added 0.37%. Investment and net exports (the trade balance) subtracted 0.24% and 0.58%, respectively. The trade balance's negative contribution is especially troubling, as the previous quarter's report showed a rare positive contribution from trade. Import growth outpaced export growth 7.8% to 6.5%. Given the already-existing trade deficits, exports will have to grow roughly 50% faster than imports for trade to have a positive effect on GDP growth.
In short, this report describes a weak economy. This quarter's weaknesses (the housing sector and the trade gap) don't look like they will turn around anytime soon, while its strengths (like motor vehicle output, which added 0.72% to GDP, or almost half of the total) are in notoriously volatile sectors that are unlikely to repeat their strong performance in upcoming quarters. Further, when the currently negative savings rate eventually shifts course into positive territory, this will drag on consumption growth and need to be filled in by other components of GDP.
Given the slow growth rate, the continuation of weak housing and trade performance, and the deceleration in core inflation in this report, the argument seems strong for the Federal Reserve to begin cutting interest rates in its next meeting of the open market committee. The past year's growth is well below any serious estimate of the economy's potential, and a key part of the Fed's job has to be maximizing this potential.
And employment:
http://www.stateofworkingamerica.org/news/SWA06Facts-Jobs.pdf
Employment growth between 2001 to 2006 1.9%. And the demographic make-up of employment growth is towards unskilled labour.
Damn, I forgot all about this thread. 😮 😠
US economy is in good shape considering the situation in Iraq, War on Terror and post 9/11 and Katrina. I will say X that you make some good points but I'll stick with my original assessment.
A new post just because I havn't bothered Xmark in a while. 😛