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This train wreck of an administration just doesnt get it, we have borrowed our way into disaster, dont raise the limit, let us default we have to go backwards to go forwards. All this artificial stimulation has done nothing but put us deeper in debt.
It is NOT just a spending problem. It is a revenue problem. Republicans drastically cut taxes on wealthy investors in 2003, reducing them from 39.6% to 15% -- an over 24% reduction. That's a pretty great tax cut! I wish somebody would reduce my taxes by 24%. But no, only rich people get these sort of perks. This sweetheart tax cut blew a hole in the federal budget, then Bush put two wars on the credit card, then the economic crisis started, much less money was coming in, and stimulus to keep the economy from falling into a deep depression was required. That is how the debt climbed so high, and it was mainly the fault of Republicans and the economic recession. It is now both insane and insulting that the GOP wants seniors (with a median income of less than $30,000) to take a cut in order to protect millionaires from paying a slightly higher rate on their huge profits.
Republicans drastically cut taxes on wealthy investors in 2003, reducing them from 39.6% to 15% -- an over 24% reduction.-----------Funny, you forgot to mention that EVERYONE got that same reduction!
endotherm--------To anyone with any intelligence at all, your posts are just hate filled drivel with NO basis at all to back them up. No economist predicted that there was even close to a depression, so Obama didn't save us from anything. But, I see you didn't say anything about Obama putting everything on the credit card. I guess 6.5 Trilloin in debt is OK if Obama does it in 4 years, but 5 Trillion in 8 years is a catastrophy. You just have to shake your head in wonder!
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