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

To: Tenchusatsu who wrote (880303)	8/14/2015 6:14:14 PM
From: tejek	Respond to of 1577905

Bust aka Bush cut taxes 3 times while he was president. Those tax cuts severely cut revenue and continue to cut revenue in this country. You don't think that might have to do with our budget deficits.Think about it. Taxes are higher now under Obama than under Bush. The economy is booming now. Uh..........not true. Taxes don't go up because the economy is booming. They go up when they are legislated into law. The tax cuts Bush and Rs implemented during the Bush administration are still mostly in place. That's why the deficits are not declining as fast as most of us would like: The American Taxpayer Relief Act of 2012[ edit] On January 1, 2013, the Bush Tax Cuts expired. However, on January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012, which reinstated many of the tax cuts, effective retroactively to January 1. The 2012 Act did not repeal the increase in the highest marginal income tax rate (from 35% to 39.6%) which had been imposed on January 1 as a result of the expiration of the Bush Tax Cuts. en.wikipedia.org Both of these factors should have led to deficits that are lower than what they were under Bush. That's where you've got it wrong. The deficit is going down because the economy is booming but again, its not going down faster because the Bush tax cuts are still in place thanks to Rs. Yet that hasn't happened. Obama's deficits are still larger than what they were under Bush. (Unless you count 2008, but comparing a boom year with a recession year isn't exactly valid.) Of course not.......it might make your guy look bad. On this subject as with so many, you don't have the facts straight.