Quote:
Originally Posted by RichieLion
Interesting article in Investor's Business Daily delving into the "untruths" related by President Obama in his call for "economic fairness".
1. His claim that tax cuts have "never worked" to grow the economy.
2. His statement that President Bush's tax cuts on the rich only managed to produced "massive deficits" and the "slowest job growth in half a century."
3. His false declaration that during the Bush years, "we had weak regulation, we had little oversight."
4. The absurd pronouncement that the "wealthiest Americans are paying the lowest taxes in over half a century."
5. The stretching to the breaking point assertion that he can keep tax breaks for the rich in place, or make needed investments, "but we can't do both."
Why do they say the above statements are lies? I'll let you read the short article and not bore you with a long post, but I think that Obama knows he can say anything he wants and you'll see no investigative journalism from the likes of Brian Williams and friends.
http://news.investors.com/Article/59...ess-speech.htm |
#1 is debatable, I think. Some of our most vibrant economic growth has occurred during times of very high taxation.
#2 I think there's more truth in this statement than fiction. Virtually every economist says that the Bush tax cuts are the singular greatest cause of the year after year deficits during his administration and the dramatic growth of the national debt. After the cuts in 2000 and 2001, there was no dramatic growth in the economy, certainly not to the scale of the cuts themselves.
#3 I wouldn't say "weak" regulation. Buit I would say "ineffective" regulation. More at fault than the regulators who wrote and implemented regulations is the Congress who changed the laws that resulted in the problems we see now.
#4 What's not true about that? What needs to be added is the word "rates".
#5 Agreed, you can do both. But you
can't do both and reduce the annual deficits or the national debt. Do the arithmetic.