Are the Bush Tax Cuts Still Beneficial to the Economy?

  • Context: News 
  • Thread starter Thread starter airborne18
  • Start date Start date
  • Tags Tags
    Taxes Time
Click For Summary
SUMMARY

The Bush tax cuts are no longer beneficial to the economy and are contributing to a shortfall in payroll taxes at both state and federal levels. The lack of job growth and reduced overall tax revenue indicate that maintaining these cuts only exacerbates the deficit. Critics argue that small businesses are not reinvesting the savings from these tax cuts into the economy, which undermines the intended stimulus effect. The discussion highlights a consensus that tax increases may be necessary to address the revenue shortfall and stimulate economic growth.

PREREQUISITES
  • Understanding of fiscal policy and its impact on economic growth
  • Knowledge of tax structures, specifically the implications of tax cuts and increases
  • Familiarity with the concepts of payroll taxes and government revenue shortfalls
  • Awareness of economic indicators such as job growth and GDP growth
NEXT STEPS
  • Research the impact of tax policy changes on small business investment and job creation
  • Study the relationship between tax revenue and public sector output in economic downturns
  • Examine case studies on the effects of the Bush tax cuts on different economic sectors
  • Explore alternative fiscal policies aimed at addressing revenue shortfalls in social security and Medicare
USEFUL FOR

Economists, policymakers, financial analysts, and anyone interested in understanding the implications of tax policy on economic performance and public revenue.

  • #121
CAC1001 said:
Just a bit confused here, but even though the Constitution doesn't specifically mention the SCOTUS, isn't it still the job of the SCOTUS to make sure that laws passed by the government keep in line with the Constitution?
Yes, but that's not their job exclusively. The first barrier to unconstitutional (federal) laws lies with congress. The second barrier is the Senate. The third barrier is the President.

The Supreme Court is the last barrier, but it's problematic to wait for that, since any law they rule is unconstitutional (invalid from conception) has already been enforced. The constitution has already been violated. People have been forced to stand trial for an action that was not actually a crime, just mistakenly considered to be a crime by government. People spending years in jail for an action that government was forbidden to prohibit or restrict.

How can a congressman vote for a law, have it ruled unconstitutional by SCOTUS, and not at least resign? SCOTUS just declared them to be violators of the constitution for God's sake. How is that not a much bigger deal than it's treated? Their actions result in ruined lives, reduced legitimacy of government, reduced freedom of an entire nation, and they treat it like they just got a speeding ticket.
 
Last edited by a moderator:
Physics news on Phys.org
  • #122
Al68 said:
The Supreme Court is the last barrier, but it's problematic to wait for that, since any law they rule is constitutional (invalid from conception) has already been enforced..

In the bolded part, did you mean, "...any law they rule is unconstitutional (invalid from conception) has already been enforced...??
 
  • #123
CAC1001 said:
In the bolded part, did you mean, "...any law they rule is unconstitutional (invalid from conception) has already been enforced...??
Yes, that would make a little more sense. :redface:

Corrected, thank you.
 
  • #124
Everything should be taxed at 100% with all the proceeds going to me.

I think this is fair.
 
  • #125
xxChrisxx said:
Everything should be taxed at 100% with all the proceeds going to me.

I think this is fair.
You'd be pretty rich based on Democratic Party math. But in reality, you'd be broke.

You'd be much better off if you received "only" 10%.
 

Similar threads

News How will the looming fiscal cliff impact the US economy and job market?
  • · Replies 204 ·
7
Replies
204
Views
29K
News Why is the tax code giving special treatment to corporate jets?
  • · Replies 78 ·
3
Replies
78
Views
11K
News Job Creation - the Key To Protecting Entitlements
  • · Replies 6 ·
Replies
6
Views
3K
News Negative Income Tax: A Progressive & Simple Proposal w/ Benefits for All
  • · Replies 7 ·
Replies
7
Views
4K
News What Are Payroll Tax Supported Programs to You?
  • · Replies 69 ·
3
Replies
69
Views
10K
News Can Tax Cuts Truly Self-Finance in Times of Major National Expenses?
  • · Replies 71 ·
3
Replies
71
Views
10K
News What is wrong with the US economy?
  • · Replies 870 ·
30
Replies
870
Views
115K
History Most Lucrative Criminal Act Of All Time
  • · Replies 1 ·
Replies
1
Views
317
News The FairTax in place of income tax
  • · Replies 11 ·
Replies
11
Views
3K
Should savings be counted in GDP?
  • · Replies 36 ·
2
Replies
36
Views
18K