WP: President Bush Calls for Permanent Tax Cuts

[DeepModem Mom]

President Bush Calls for Permanent Tax Cuts
By Jim VandeHei
Washington Post Staff Writer
Tuesday, August 9, 2005


CRAWFORD, Texas -- President Bush on Tuesday called on Congress to make permanent tax cuts enacted over the past five years and restructure the U.S. tax code soon to keep the economy growing at healthy pace.

After meeting with economic advisers and members of his cabinet at his ranch here, Bush said the economy is humming in large part because Republicans cut taxes aggressively during his first term in office and are ahead of pace to cut the deficit in half by 2009. "The economy of the United States is strong and the foundation for sustained growth is in place," Bush told reporters.

But, he cautioned, "there are still some challenges to the economy." The president said his biggest concerns are gas prices nearing $2.40 per gallon on average and escalating health care costs for employers and individuals. "Rising health care costs are a potential burden on economic growth," Bush said. The president renewed his call for limits on medical liability lawsuits as one way to reduce health care costs, even though lawmakers, including some Republicans, have shown little interest in passing such legislation during this Congress....

***

The president said his economic policy is the reason 207,000 jobs were added in July, holding the unemployment rate steady at a relatively low 5 percent. By many other measures, the economy is, in fact, humming: it expanded at a robust 3.4 percent last quarter and analysts anticipate a speedier pace this summer. Business is picking up, too, as factory orders and investment in new equipment are on the upswing.

Yet the economic gains have not translated into political benefits for Bush, as recent polling shows a majority of Americans are not satisfied with the president's handling of economic issues. Distress in three key areas is partly to blame, pollsters say: the housing market, the gas pump and health care....


http://www.washingtonpost.com/wp-dyn/content/article/2005/08/09/AR2005080900123.html

[LSparkle]

1. Lame duck. This had better be D.O.A.

Making those tax cuts permanent aren't going to do one iota for the average joe trying to fill his gas tank. It's breathtaking how he just doesn't get it ...

[Mr. Peanut]

5. Repubs have no right...

to point their fingers at the Dems and call them the Party of "Tax and Spend." The Repubs are the Party of "Spend and Borrow." Oh, yeah, make no mistake, they are big spenders, all right. But tread on a worm and eventually it will turn. Americans may have been temporarily dumbed down, but I can't wait for the day, for the event, when citizens get fed up and without notice toss these crooks out of office.

[Olney Blue]

9. Welcome to DU, Mr. Peanut

Spend and Borrow- that's so true.

:hi:

[peacetalksforall]

13. Won't happen with

Republican voting machines.
Republican software.
Republican technicians.
Republican corporate news networks paying for and interpreting poll results.
Republican corporate news networks calling the elections.
Leaders who don't care about all the Republican control and theft of our vote.

[sakabatou]

8. If it's pssed, say goodbye to the economy

[Bryn]

2. This reminds me of a sticker that I saw

recently

"Feed the Rich. Vote Republican."

[applegrove]

3. Has any reporter asked him if he plans on repealing the 16th Amendment

to make income tax illegal? Steve Forbes of PNAC admits that is in the plan.

And SCOTUS can put it through if all else fails. Should Roberts answer this one too?

[Megahurtz]

4. Oh Cool! Permanent Favors for the Wealthy.

:sarcasm:

And permanent slavery for the rest of us.

Fucking Dictator!:mad:

[truthisfreedom]

6. lame duck quacks, nobody listens

[VegasWolf]

7. Hell, I have a better idea, let's not tax the rich at all! nt

[ninkasi]

10. He can take his retarded ideas...

and insert them. As far as limiting medical liability, here in Texas people were idiotic enough to vote for a cap on that liability, and the insurance companies responded by requesting another rate hike on medical malpractice rates.

Nothing this worm does is for the good of the average American; it's all for the rich, who are his buddies. I can't wait til we control Congress again, along with the presidency. It will take years to undo even a fraction of the harm his cretin has caused.

[all.of.me]

11. the economy is growing at a healthy pace?!

did i miss something?

[Delphinus]

33. Yep - you missed it.

We both did. We're obviously not the rich ones they care about.

[all.of.me]

36. lol

[LibinMo]

12. "Rising health care costs are a potential burden on economic growth,"

potential? POTENTIAL??
Healthcare costs have already ruined my economic outlook and I'll bet I'm not alone.

* is an idiot.

[Fire Walk With Me]

14. Bush also said "We will spend what we have to"

Bush said "to keep the economy growing"?

Bwahahahaha!

Of course, the subcode is easily translated as "to keep the Treasury feeding my contributors and corporate buddies".

[louis-t]

15. His economic policy

is the reason ONLY 207,000 jobs were created last month.

[Mr. Peanut]

23. Maybe at Starbucks, Wal-Mart, and McDonalds...

but most middle aged persons such as myself are severely under-employed and are scratching to make ends meet, even after cutting expenses back to the bone. The administration responds with, "Get more education!" Even new college grads are having difficulty finding employment with a paycheck that will cover medical expenses, housing costs, cost of raising children, etc. When are we going to get rid of these rich thugs in gov.?

[Joey Liberal]

16. Moron Bush is destroying this country n.t

[jayctravis]

17. So that's why we're getting breathless news reports...

about the "healthy economy". The Admin can point to how good were doing and "why not make this permanent? Job growth!" Then when it's permanent and chisels our economy all into dust we can't really do anything about it. Wonder if gas would have gone the hell up so much if there hadn't been a war. Bush is just getting him and his own set up to the end of their existence; screw everyone else.

Be a lot damn healthier if our country hadn't maxed the credit cards blowing shit up. That's what happened to the surplus Bill handed over.

[Voltaire99]

18. Paul Craig Roberts breaks down those jobs...

Excerpt from "Watching the Economy Crumble," up today at http://counterpunch.com/

The US continues its descent into the Third World, but you would never know it from news reports of the Bureau of Labor Statistics’ July payroll jobs release.

The media gives a bare bones jobs report that is misleading. The public heard that 207,000 jobs were created in July. If not a reassuring figure, at least it is not a disturbing one. On the surface things look to be pretty much OK. It is when you look into the composition of these jobs that the concern arises.

Of the new jobs, 26,000 (about 13%) are tax-supported government jobs. That leaves 181,000 private sector jobs. Of these private sector jobs, 177,000, or 98%, are in the domestic service sector.

Here is the breakdown of the major categories:

• 30,000 food servers and bar tenders;
• 28,000 health care and social assistance:
• 12,000 real estate;
• 6,000 credit intermediation;
• 8,000 transit and ground passenger transportation;
• 50,000 retail trade; and
• 8,000 wholesale trade.

(There were 7,000 construction jobs, most of which were filled by Mexicans immigrants.)

Not a single one of these jobs produces a tradable good or service that can be exported or serve as an import substitute to help reduce the massive and growing US trade deficit. The US economy is employing people to sell things, to move people around, and to serve them fast food and alcoholic beverages. The items may have an American brand name, but they are mainly made off shore. For example, 70% of Wal-Mart’s goods are made in China.

Where are the jobs for the 65,000 engineers the US graduates each year? Where are the jobs for the physics, chemistry, and math majors? Who needs a university degree to wait tables and serve drinks, to build houses, to work as hospital orderlies, bus drivers, and sales clerks?

[Kerrytravelers]

19. Bush Concerned Over Energy, Health Costs

<http://news.yahoo.com/s/ap/20050810/ap_on_go_pr_wh/bush;_ylt=AgdUFsMRXr382xcdkTE2v.ms0NUE;_ylu=X3oDMTA3b2NibDltBHNlYwM3MTY->


Bush Concerned Over Energy, Health Costs
By NEDRA PICKLER, Associated Press Writer
1 hour, 53 minutes ago



President Bush voiced concern over soaring energy and health care costs on Tuesday, while the Federal Reserve hiked short-term interest rates to the highest level in nearly four years to guard against inflation.

<snip>

Bush said rising interest rates were not his chief economic worry.

"I think we're more concerned about energy prices and health care prices," said the president, who was meeting at his ranch with economic advisers. Those two areas will have a greater effect on the economy's future health, he said.

<snip>

"It's certainly a major drag on the economy, on family budgets," he said.

<snip>



-------------------

Whew! I"m glad * cares... because if he didn't give a shit, can you image what bad shape we'd all be in? Wait... what... you mean he doens't care... WHHHAAAAA?????? EVERYBODY RUN FOR YOUR LIVES !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Carolab]

20. Like hell he is. n/t

[Erika]

21. Yet one more day of he & his buddies reaping extreme profits

while worrying about us little guys. He just cares so much about us.

[SammyWinstonJack]

29. pResident GREED PIG couldn't care less about anything

except his bottom line. :grr: He's the HAVE MORES that he speaks of.He 's never earned an honest dollar in his whole miserable life and neither has the rest of the BFEE going back generations.

[Kerrytravelers]

32. Why was my thread combined with the op?

Strange.

ANyway, shrub is too busy hiding from Cindy Sheehan to be thinking clearly. He's in "terrah" mode. :eyes:

[Mountainman]

22. What's great about this is the freeptards will drink the cool aid and

pray for the day to come when they are rich enough to get to take advantage of the big tax cuts. All the while getting screwed up the ass buy Bushco and asking for more daddy more!

[Supersedeas]

24. Permanent tax breaks for the rich: challenges for the commoners

[FreeStateDemocrat]

25. Watch congressional democrats roll-over and play dead, again.

[ElsewheresDaughter]

26. there is a global boycott on American goods thanks to bush and his war

we are in a world of financial shit and it has only just begone...read the foriegn papers and know for yoursevels at www.watchingamerica.com

[xxqqqzme]

27. where is this booming

economy? what factories R left in the US? who is making the 'new equipment' so many R investing in? Who's eonomy is he talking about? China?

[bdot]

28. Call for permenant layoffs.

Each tax cut led to more and more layoffs. I'm guessing he wants to keep these people out of work.

[PurityOfEssence]

30. Hey, let's just GIVE the rich lots of money and get it over with

They're gods on earth; why don't we just guarantee their permanent success?

[shantipriya]

31. 207,000 jobs!!!

Bush and other economists and wall streeters tout the job creation in July(207000 jobs). None of these morons tell us that most of these jobs were low paying or semi-skilled jobs.None were in tradeable goods and services.Yes the economy is good. BUT for whom? Not the majority of the poulation.It is good for the wealthy,the elites, and wall street employees who by the way are grossly overpaid for what they do.

[Julius Civitatus]

35. Summer hires

Waiters, bartenders, fast-food restaurants, supermarket help...

Typical spike on summer temp jobs. Mostly high-school students making some money during the summer months.

[DFWJock]

34. President Bush Calls for Permanent Deficits

turning another corner...