Taxes under Clinton 1999
Single making 30K – tax $8,400
Single making 50K – tax $14,000
Single making 75K – tax $23,250
Married making 60K – tax $16,800
Married making 75K – tax $21,000
Married making 125K – tax $38,750
Taxes under Bush 2008
Single making 30K – tax $4,500
Single making 50K -tax $12,500
Single making 75K -tax $18,750
Married making 60K- tax $9,000
Married making 75K – tax $18,750
Married making 125K – tax $31,250
Both democratic candidates will return to the higher tax rates
[/quote]
Of course, at the time Clinton left office, the budget was also balanced, and the US national deficit was roughly half of what it is now.
Every single penny of those tax cuts has increased the national debt, so the net result is that we as a people owe more, and have to pay more every year out of our budget in interest payments, mostly to nations abroad (like China). Currently, those interest payments are up to $429 BILLION dollars each year.
[quote]
It is amazing how many people that fall into the categories above think Bush is putting it to them and Bill Clinton was the greatest President ever. If Obama is elected, he says he will repeal the Bush tax cuts and a good portion of the people that fall into the categories above can’t wait for it to happen.
This is like the movie ‘The Sting’ with Paul Newman; you scam somebody and they don’t even know what happened.
Additionally:
In just two years. Remember the election in 2006?
A little over two years ago:
1) Consumer confidence stood at a 2 1/2 year high;
2) Regular gasoline sold for $2.19 a gallon;
3) The unemployment rate was 4.5%.
Since voting in a Democratic Congress in 2006 (WHO PROMISED CHANGE) we have seen:
1) Consumer confidence plummet;
2) The cost of regular gasoline soar to over $4.00 a gallon;
3) Unemployment is up to 5% (a 10% increase);
4) American households have seen $2.3 trillion in equity value
evaporate (stock and mutual fund losses);
5) Americans have seen their home equity drop by $1.2 trillion
dollars;
6) 1% of American homes are in foreclosure.
America voted for change in 2006, and we got it!
Remember it’s Congress that makes law not the President.
He has to work with what’s handed to him.
[/quote]
Like none of the above would have happened if the GOP was in the majority today? I have this Bridge in Alaska I’d like to sell you if you believe that. You can only spend on the government’s giant VISA card for so long, and you can only inflate bubbles to a certain point before they’re guaranteed to drop. Most people on this site SAW this meltdown coming LONG before the Democrats took back the congress in ’06.
As well, you might want to mention that consumer confidence was even higher during Clinton’s administration, gas was even lower, and unemployment was about the same.
BTW, the GOP is currently on pace to almost double the largest number of filibusters ever recorded in a 2 year Senate session (they’re at about 140, the previous record was something like 85). It’s hard to get anything done when you’ve got an obstructionist minority party willing to filibuster just about anything – and what doesn’t get filibustered, well, King George finally found his veto pen after 6 years of having lost it.
