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WRECKONOMICS II REV 7-12-10

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clarence swinney Donating Member (673 posts) Send PM | Profile | Ignore Mon Jul-12-10 04:32 PM
Original message
WRECKONOMICS II REV 7-12-10
WRECKONOMICS II REV 7-12-10
COURTESY :WALL STREET OF AMERICA
LEADERSHIP VIA CONSERVATIVE POLICIES
THANKS TO RONALD REAGAN AND G W BUSH

From 1946 to 1980 the period was known as the GREAT MIDDLE CLASS YEARS
Each President worked to reduce the Debt from WWII.
In 1980 Debt was less than 1000 Billion and Government Spending was 600 Billion per year.

Reagan boastful Cut Taxes plus Cut the size of Government was a Trojan Horse, per his OMB Stockman, to cut Taxes for very rich.

Reagan was Governor for 8 years during which he increased Taxes on many items.
He increased the state revenues more than any predecessor.
By Far. Cutting Government? Ho Hum. Blarney Baloney once more.


Reagan policies increased Spending by 80% .
Debt by 186%.
9-3-01 Debt was $999.9 Billion and 9-30-89 at $1,859 Billion
Conservatives use Spin: It was Congress.
From 1930 to 1980 we spent $6066 Billion.
Reagan 8 Budgets totaled over $7000 Billion.
Congress? Ho Hum.
Blarney Baloney.
Congress returned Reagan 8 budgets for his signature with
fewer total dollars on them.
Haynes Johnson in sleepwalking said Reagan administration was most scurrilous in history
138 were investigated /charged/fined. More than total for all preceding Presidents in 20th century.
There were scandals in 27 Departments of the Federal Government.
Most involved money fraud.
The book Ronald Reagan-There he goes again documents over 300 incorrect statements by good old Ron.
Each President from 1945 reduced the Debt then came Spend-Borrow Reagan
to increase government by 80%.

THEN-Here comes GHW BUSH.
No braggart here. Nice Gentleman.
He increased Debt to $4411 Billion.
A 54% Increase.
Give him credit for increasing Tax on Rich due to out of control Deficits.
He had courage to put America first over ideology and party.

THEN-Pay your Way CLINTON ARRIVES
The Debt on 9-30-1993 was $4411 Billion.
The Debt on 9-3-01 was $5807 Billion.
An increase of $1396 or 31%
Clinton reduced the Deficit in each of first four years.
He ended with a surplus.

HERE comes old King of Spend-Borrow GW BUSH
Debt was $5807 Billion and on 9-30-09 it was $11,909 Billion.
105% increase.
Reagan-186%
Bush I-54%
Clinton-31%

Reagan-Bush I-Bush II did not pay down a penny of debt in 20 years

Those Three Famous Conservatives added $10,946 Billion to our Debt.

Three so called conservatives promoted cut government.
Up = Down to them.

INTEREST ON DEBT
9-30-81 to 9-30-09 we paid $8400 Billion in Interest.
87% Interest Paid on Debt incurred by the Famous 3.

The $10,946 in Debt plus $8400 Billion of Interest is $19,346 Billion.
Is it not possible that without Reagan + Bush Tax Cuts we would enjoy a Surplus?

Now! What do we do?

Increase Unearned Income Tax to 40%. Make Gamblers pay.
Increase Top Income Tax Rate to 40%
Increase Estate Tax big time big time biggie
Eliminate Loopholes on Corporate profits16% average payment-(top rate 35%)

In 2003 distribution of corporate profits by CBO report revealed
Bottom 80% of Income earners got 8%--Top 5% got 67%---Top 1% got 49%
2009 Tax Return of Exxon pays no tax on billions in profits. Wrong. Sad.
Renew Revenue Sharing to return cost to rich from middle class

Clarence Swinney
Political historian since 1991 on Reagan-Clinton-Bush II administrations.
Lifeaholics Of America -- old n ugly but honest
Author-Lifeaholic-Work for a Life not just a LivingWorkaholic to Lifeaholic
Author-forthcoming-All American PartyHow Democrats created a Great Middle Class and Wall Street Rich Conservatives are determined to destroy it
Many Stats from 12-6-09 polidose.com article by John Lucia The National Debt:Betrayal and Devastation
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TexanRudeBoy Donating Member (71 posts) Send PM | Profile | Ignore Sat Jul-31-10 11:15 AM
Response to Original message
1. Nothing like the ignorant ramblings
Edited on Sat Jul-31-10 11:15 AM by TexanRudeBoy
of someone who knows nothing of what they're talking about.

Reagan cut taxes? He cut the size of government?

Um no. Educate yourself please....

http://mises.org/daily/1544


You know Clinton didn't pay down any debt either right? Somehow, someway, while running those magical "surpluses" the debt grew EVERY YEAR under Clinton. How is it possible to be bringing in more money than your spending and yet still have the debt grow every year?

I'd also LOVE to hear you explain how Obama has "changed" anything from Bush.

massive deficits: check
never ending war: check
massive expansion of government: check
indefinite detention without any due process: check

Oh I know what he's done differently..... Obama is actively trying to have US citizens assassinated abroad, far from any battlefield, on the sole say of the executive......but hey its not as bad as some evil republican tapping phones.....at least Obama ended that.....what's that? Oh yea, he didn't..........
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