neocons conning again

[FishHooks]

No matter how bad the left hates this administration, you have to let history decide. In 30 years that is when we can see what the final result in the middle east is. However if all goes bad and everything goes down the tanker, no american president will be hated by historians as much a Hoover.

[FishHooks]

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Um, did you forget about the fact we have a huge deficit? We kind of have to pay that off. And thanks to the Idiot, we've got a lot more to pay off now. So what is needed is:

Taxes = Spending + Paying off the deficit

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Most people dont have a clue about the national debt, its basically money we owe to ourselvs as weird as that sounds. The problem with a deficit is that it could cause massive inflation. Early in the administration the dollars was on the decline but it wasn't from this, it was a combination of things, like other currency like the Euro getting stronger. People need to look at the deficit in terms of GDP. This deficit is "bad" but historically it is on par with previous presidents in terms of GDP. The reason why you have to look at it in terms of GDP is simple. IF the GDP was 1 trillion and the deficit was 300 billion a year that would be a huge problem. However I believe our GDP is just over 11 trillion (I believe or this might be GNP) so a small deficit isn't bad because it wont affect inflation much. Right now inflation is lower than average which means this deficit isn't affecting our dollar.

[squeek12]

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IMO, Bush's tax cuts were well-intentioned

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Um, any chance you're serious here?

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Wow, powerful agrument. Let me make it for you. His tax cuts were for the rich.

Well yeah, that's because the rich pay the most taxes. In fact, the top 20% of wage owners pay 80% of the taxes in the country.

I believe most unbiased economists would agree that a progressive tax scheme is just about the worst for productivity and motivation. Hopefully one day we'll get a flat tax or a national sales tax or something.

[AndysDaddy]

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Actually way down the line from now, Bush will probably only be remembered for being the son of another President.

-ptmusic

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Actually, I'd bet the other way: Bush I will be remembered as the Father of Bush II. Love him or hate him, W will be better remembered than his Daddy.
--
Scott