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Nobel Prize Winner Praises Bush Tax Cuts
I wonder how John Kerry will try and spin this.
Nobel Laureate calls for more US tax cuts
Washington - Edward Prescott, who picked up the Nobel Prize for Economics on Monday, said President George Bush's tax rate cuts were "pretty small" and should have been bigger.
"What Bush has done has been not very big, it's pretty small," Prescott said.
"Tax rates were not cut enough," said Prescott.
Lower tax rates provided an incentive to work, Prescott said.
Prescott and Norwegian Finn Kydland won the 2004 Nobel Economics Prize for research into the forces behind business cycles.
The American analyst, who is a professor at Arizona State University and a researcher at the Federal Reserve Bank of Minneapolis, said a large tax cut in 1986 had lowered rates while collecting the same revenue.
But "in the early nineties the economy was depressed by the tax increase in 1993 by about four percent, and it's right at that level now," Prescott said.
Bush, who is fighting to get re-elected on November 2, has cut taxes by about $1,7-trillion during his term.
The US leader accuses his Democratic rival John Kerry of favoring tax increases, despite Kerry's promise to cut taxes for everyone earning less than 200 000 dollars a year. - Sapa-AFP
What he trying not to say is that if Clinton had CUT taxes we would have had an even BETTER economy in the 90's.
posted by Gus! @ 10/13/2004 10:20:00 AM
5 comments
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5 Comments:
How is it you were a Democrat to begin with, exactly? You seem to be in favor of the conservative position on virtually every major issue.
You say that your mind changed because "9/11 happened", but 9/11 didn't *change* anything. Everyone who was smart already knew that something like 9/11 was coming. I remember on that day, my family woke up, and not a one of us was surprised.
How could you *not* have seen something like 9/11 coming a mile away, and thus taken it into account in your views on actual issues?
...And how did that turn you into a cheerleader for all of the President's policies, foreign and domestic?
Joe, I take it you are a fellow conservative, but please, it sounds like you're kind of arrogant. Listen, I live in the S.F. Bay Area - a highly Democratic and liberal area -- I thank God every day I meet a 9/11 Democrat. I talk to lots of people -- smart, intelligent people of all races and ages and since most people tend to think the way they were raised, it is no small surprise that many Democrats who would never have thought of voting for a Republican are doing so now. So get off your high horse, my friend, and count your blessings -- name them one by one by one by one -- including this dear man who is the host of this blog! Beth Barnat, Winters, CA
I applaud the creator of this blog. I too can relate to the realization on how 9/11 changed a great deal of people's minds.
I was formerly a moderate-leaning left. My wife, an American-African, also has shifted her viewpoints over the past few years.
You see when the blinders come off and you realize the distortions of the true facts by the MSM on many foreign and domestic policies, you start to investigate your ideals with more vigor.
The slanted, propaganda, without debate structure of Fahr-911 I believe galvonized many people to go right of center in this country.
Just like the MSM applauded Clinton for a 5.6% unemployment rate, while Bush is ignored for a 5.4%
rate, so to can be said about the coverage of the Iraq conflict, which has been slanted by all pessimism.
Please visit the site link below. Untold Iraq features the stories of Iraqis and Americans who are building a secure, stable and democratic future in Iraq.
http://www.untoldiraq.org/
What really stinks about the media is they say the economy is sooooo bad now. Yet if you check Clinton's first term the employment rate hit a high of 6.6 for two months with no catostrophic event. The high for Bush's first term was 6.3 for one month after 9/11. The unemployment rate now is at a 5.4 which is the same as when Clinton ran for re-election yet for Clinton the unemployement rate was low at 5.4, but for Bush it was high at the same rate of 5.4.
The democrats want to say that Bush is the only President in 70 years with a net job loss of 1.6 million which fact check.org actually said was 993,000 or so. 9/11 itself caused 1 million jobs to be lost (that alone would cover the loss), on top of the recession Bush inherited, on top of the dot com crash, on top of corporate scandals on top of the current devestation from the Hurricanes in Florida, on top of the STATE of Ohio jacking up their taxes (not the Federal, but State taxes)which is the real reason they are loosing jobs. None of which happened in Clinton's first or second term. Yet if Clinton was running today as the incumbant the media would be saying "Considering the catastrophic events that happened during this Presidents administration he has done a very good job. Just think if none of these things happened we would have an astronomical econmy right now." What does Bush get? Nothing but negative because he is a Republican president and these Democrats are sore losers of the 2000 election? Nothing but negative. American's are getting tired of being lied to by the media. Unfortunately the only one's not getting mad are the American's who are informed. They just don't want to check the facts. They believe Kerry's rhetoric.
The democrats also want to say that the President has done nothing but spent. Well, duh a lot of the money spent went to bail airlines out of having to go bankrupt from the 9/11 attacks, the money that went to ground zero, plus money to fund Homeland Security, plus money to increase security in america, plus the cost of going to war which ALL parties agreed to unanimously, and the list goes on.
Off the economy issue, to show how bias the media is. No mention was made of the Catholics who were kicked out of the Kerry rally this weekdend. I have e-mailed ALL news venues including FOX. These people have pictures to prove it yet no one will show it. Not to mention the slow media in reporting the Kerry Camp going to Churches when the Democrats were so eager to get other Churches 5043c's pulled when it pertained to the Bush Campaign. Why because the media doesn't want to show that Kerry is only Catholic in name and not Catholic in faith. Just like the garb he wanted to pull the last debate. "I appreciate your question and I am in fact a Catholic and live it in my every day life yet I can not legislate my faith to others." When he decides to show up on the Senante floor he votes how he believes like backing the Bar Association 100% of the time.
He says one things and does another!
I was surfing around and found another George Bush site.George Bush Doesn't Care About Black People This place has a ton of funny videos and mp3s.
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