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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (614206)	6/2/2011 2:37:39 PM
From: Alighieri	Read Replies (2) \| Respond to of 1578020

Revenue dropped precipitously when we had two recessions. Interesting interpretation, of course completely wrong. The early 2000s recession lasted 8 months, it was shallow, the GDP loss was 0.3%...nothing even close to account for the revenue decline we experienced. In actual tax revenue the decline after the passage of the 2001 tax cut was immediate and long lasting...it took five years to get back to 2001 revenue...by then the economy had recovered. en.wikipedia.org By the way, payroll taxes increase by a larger percentage than the programmed taxable income increases, indicating that there is no decline at all... taxpolicycenter.org Y'all continue to refuse to accept the irrefutable. Yes, bush and his republican congress was/were also big spenders. Two wars, expansion of entitlement without any provision for taxation to pay for it, large growth in discretionary spending... The most galling part of this story? At the end of the seven year period following these tax cuts, sold to the country as a pump primer for ECONOMIC EXPANSION and JOB GROWTH , the country found itself in the midst of the worst economic/financial crisis in nearly a century, characterized by high unemployment and huge capital losses by US citizens. Get serious. Al