2005-12-14 - 6:22 p.m.
If there's one thing I'm sick of hearing from liberals, it's how Bush has fucked up our economy. The people who make these claims amaze me with their ignorance.
Recently there was an editorial in the NY Times by Paul Krugman about this topic. The one and only source of information sited in this entire article was - get this - a Gallup opinion poll which stated that 57% of the American public believes that the economy is bad.
Are you serious? A fucking opinion poll?! This is what the left thinks is responsible and reliable journalism?!
For those of you who care, here are the facts. Take the numbers, do some research and compare them to the Clinton administration. You may be suprised at what you find. By the way, at the end of this entry, my sources will extend beyond an opinion poll.
Gross Domestic Product as of 11/30/05 was up 4.3% in the third quarter of 2005, up from 3.3% in the second quarter
In October 2005, personal income increased 0.4%
U.S. current-account deficit decreased from $3.0 billion to $195.7 billion in the second quarter of 2005
Travel and tourism related sales grew 9.4% in the second quarter of 2005
Average hourly earnings in June 2005: 16.07
July: 16.14
Aug: 16.17
Sept: 16.19
Oct: 16.29
Nov: 16.32
Current unemployment rate: 5%
Unemployment peak during the Clinton administration: 7.8%
Peak during Bush administration: 6.3%
Does everyone remember those tax cuts by the Bush administration that liberals were up in arms about? Tax cuts for the wealthy, right? Here's the truth:
Tax rates of 15, 28, 31, 36, and 39.6 percent were replaced by rates of 10, 15, 25, and 33 percent.
Child tax credit was doubled to $1,000 per child
Marriage penalty was reduced by reinstating the 10% deduction for two income households
To those of you who don't understand, the rates mean that Bush DID NOT cut taxes. No taxes were actually cut, the rates were cut. There is a very big difference. Of course this means that the wealthy pay less, because they're in a higher tax bracket. The wealthiest of America would pay 33% rather than 39.6%. Because liberals can't do math, they fail to realize that this rate cut applies to the poorest of Americans too, decreasing their rates from 15% to 10% of income.
The logic of this tax cut was the same idea retailers use when having a sale. Retailers will slash prices on items in the hopes of making a bigger profit by pushing volume rather than making a higher profit from each individual item sold. The same idea applies here.
With these tax cuts, the Bush administration increased the money in each individuals pocket, therefore stimulating growth, resulting in more small business and a huge increase in revenue. The critics of the Bush administration's tax cuts need to go back to high school.
And so there are a few facts of recent history to help everyone better understand just how inept the left-wing in this country truly is. If you need more, my sources are listed below.
Any liberals who have a response to this, please share. List your sources (no opinion polls please, only fact) and prove me wrong, if you think you can. I promise you all that the only thing you will accomplish is to give me more material to expose your socialist mindset for what it really is...complete bullshit.
Sources:
http://www.economagic.com
http://www.whitehouse.gov
http://www.bea.gov
http://www.bls.gov
http://www.nytimescantgetanythingrightandsucksmybutthole.com
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