Originally posted by FlechaAutoSports:
...Even some of the Wealthiest have oh the most positive views on Bush!
"Billionaire investor Warren Buffett accused the Bush administration Saturday of pursuing tax cuts that favor large corporations and wealthy individuals. "If class warfare is being waged in America, my class is clearly winning," Buffett said in Berkshire Hathaway Inc.'s annual report. Except for 1983, the percentage of federal tax receipts from corporate income taxes last year was the lowest since data was first published in 1934, Buffett said."



I'd like to ask Mr. Buffett (whom I highly respect for his investing strategies) why he thinks low Fed rates alone are going to pull the US economy out of the recession, if the large tax breaks that companies have been given last year in ADDITION to rock-bottom lending rates have BARELY started to work and generate cross-industry momentum here in the US. In fact, it's been the brighter business climate across the globe which is bringing about MOST of the upswing, with a few minor but NECESSARY pushes given in terms of low interest rates and tax breaks...

to reiterate once again, getting companies to put more capital into workers, development, projects, etc., during a recession takes more than just low interest rates; even more than tax breaks. It takes a promising business climate, which has been challenging over the last few years for some VERY obvious reasons.

Originally posted by FlechaAutoSports:
"The President's economic plan uses significant amounts of, to borrow a phrase from President Bush, "fuzzy math." According to the Urban-Brookings Tax Policy Center, 45 percent of the tax cut will go to the top 5 percent of earners in the country while only 22 percent of the tax cut will go to the bottom 80 percent of earners. As you would expect, the Republican tax cut gives the most help to the people who need it the least. But here is the fuzzy math. The president claims that the tax cut will cost $726 billion and will produce 1.4 million jobs. As economist and writer Paul Krugman points out, we only need to divide $726 billion by 1.4 million and get a cost of $518,571 per job. Seeing as over 2.7 million private sector jobs have been lost during his tenure as President (a record only matched by Hoover who presided over the initial parts of the Great Depression) the tax cuts are certainly not producing jobs. Furthermore, one has to question whether $518,571 is a reasonable cost to create a job. It is very reasonable to assume that we could create more than one job with $518,571 worth of funding for pro-employment or job training programs funding. Given that the average salary for a worker is about $40,000 per year, it would even be cheaper to hire them for the 10 years of the tax cut, as FDR did for many during the Great Depression, than pay the $518,571 per job over 10 years."



I've said it until I'm blue in the face: job loss or gain on a wide scale isn't something that Bush, Clinton, Bush, Sr. or any other President in recent memory can take credit for. The US government hasn't acted upon any legislation that could bolster or cripple US jobs to that scale in ages.

Bush's claims are BS, along with Clinton's and every other President that stands up and claims their administration was SOLELY responsible for creating jobs or denying job loss.

Furthermore, are they including businesses or private business owners in this mix? If so, those numbers are skewed to Hell and back are are more BS than they initially were due to blaming the Bush Administration on current job loss statistics...

Originally posted by FlechaAutoSports:
The New York Times commented that this and other tax cuts would end ??the taxation of inheritances and eliminate taxes on interest, capital gains and dividends.? The newspaper continued: ??These are tax changes Ronald Reagan could only dream of.?



More BS. I've been following the tax polices on dividends and inheritance tax. While some of the proposed measures scale back the level of taxation, they do NOT end taxes on these, except in lower-income situations. Yeah, that's really screwing the working-class and blue-collar guy over, isn't it?

Originally posted by FlechaAutoSports:
The Washington Post??s financial planning columnist, Albert Crenshaw, calculated that based on the maximum contributions allowed under the Bush plan, a wealthy family could build a personal fortune of $154 million for each child without ever paying taxes. ??Ultimately,? he wrote, ??we could end up with a Leona Helmsley tax code??one in which only the little people pay taxes.?

I question much that comes out of the Washington Post, though I really can't comment on this piece as I'm not a trust fund or tax shelter accountant by any means...

Originally posted by FlechaAutoSports:
* tax credits for business research and development, costing $68 billion over ten years;

* tax breaks for private medical savings accounts, worth $5.1 billion to the company that is the principal marketer of such financial instruments, the Golden Rule Insurance Company of Illinois, a big donor to the Republican Party;

* a $16.1 billion tax credit for real estate developers and homebuilders;

* a $712 million tax credit for companies that convert landfill gases into electricity, sought by Waste Management, the big operator of landfills;

* and an $891 million deduction for companies that donate leftover food to charity, sought by the pizza franchise industry. The only limitation on this effort to make it profitable to deliver stale pizza to soup kitchens is a requirement that donated food be ??apparently wholesome.?



Excellent. More money for those companies to invest in employees, R&D and come up with ways to make more profits, which are TAXABLE...


Originally posted by FlechaAutoSports:
whatever guys..

BUSH can DO NO WRONG for crying out loud..



If he refuses to punish innovation and investors like certain individuals in the Senate would like, then no, him and the Congressmen who vote for measures like this certainly haven't, in my opinion.

JaTo e-Tough Guy Missouri City, TX 99 Contour SVT #143/2760 00 Corvette Coupe