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The Swiftboating of Nancy Pelosi's Plane : Swingers Discussion 732571011
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TOPIC: The Swiftboating of Nancy Pelosi's Plane
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Perfect

"Please explain the difference in 'constant' dollars and giving historical data in 'current dollars'. Then please post revenues in 'constant' dollars. "

Current dollars is TODAY'S value of a dollar. Converting "current" dollars to "constant" dollars places a time value on the money and enables direct comparison of multiple years. Converting current dollars to constant dollars takes into account the effects of inflation. It's called the Present Value of a Dollar.....Accounting 101.

For example, if you were to want to know how much monthly you needed to save for X number of years, at X interest rate to have $1 million saved after the X number of years you would have to go to the Present Value Tables to determine how much to save each month. It's called "Time Value of Money". You cannot take $1 million divided by the number of years and then divided by the number of months to arrive at that figure because at the end you will not have $1 million in "value".

Now I gave the web address for the article which does take into account conversion to "constant" dollars. You go look at the whole article. I don't have 2-3 hours of time to go do your work for you.

St Petersburg FL
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Perfect

all the posted quotes under your numbers are from 2003

St Petersburg FL
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Perfect

"Pleeeaaaaaasee!! The CBPP is lieft wing garbage!. That article is the biggest piece of shit I've ever seen. It's so biased a child could see it. "

Sorry Dano this is not a left wing organization but unpartisan

The search page caption:

"Center on Budget and Policy PrioritiesThe Center on Budget and Policy Priorities is a nonpartisan research organization and policy institute that conducts research and analysis on a range of ..."

Now a couple (or so) of problems with your numbers posted

1. They are in current dollars not constant dollars adjusted for inflation which levels the playing field and makes yearly numbers comparable

2. You got 2007 receipts which hasn't even began so your 2007 is obviously a FORECASTED amount. I believe the last year actually released by IRS on collection data is 2004 at this point maybe 2005

3. Your quotes is from 2003, my posted quotes are from July 2006. You got old stuff.

Anyone who has gone through college taking accounting or economics knows that a dollar TODAY is not worth YESTERDAY'S dollar. That is the effect of inflation. You therefore cannot compare 2001 dollars to 2002 or any other later year without adjusting back to your base year.

St Petersburg FL
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Continued:

"Could the Tax Cuts Pay for Themselves Over Time?

Proponents of the tax cuts might argue that the stronger revenue growth in 2005 represents the beginning of a trend and that the tax cuts will pay for themselves over time. This claim is contradicted by the historical record, as well as by the Administration’s own projections.

Tax Cuts Have Not Paid for Themselves in the Past Senator Charles Grassley (R- IA) recently stated, “There is a mindset in both branches of government that if you reduce taxes you have a net loss, if you increase taxes you have a net gain, and history does not show that relationship.”[8] A look at the past two decades, however, shows exactly that relationship.

In 1981, Congress substantially lowered marginal income-tax rates on the well off. In 1990 and 1993, by contrast, Congress raised marginal income-tax rates on the well off. When the 1981 tax cuts were being debated, some supporters contended the tax cuts would more than pay for themselves. Similarly, opponents of the 1990 and 1993 tax increases claimed they would damage the economy and cause tax receipts to grow more slowly in the 1990s than in the 1980s.

In fact, the economy grew at about the same rate in the 1990s as in the 1980s, while tax revenues grew about twice as fast in the 1990s as in the 1980s: 3.5 percent (after adjustment for inflation and the increase in the size of the population), compared to 1.7 percent in the 1980s."

St Petersburg FL
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Continued:

"By contrast, five and a half years after the peak of previous post-World War II business cycles, real per-capita revenues had increased by an average of 10 percent. And at this point in the 1990s business cycle, real per-capita revenues were 11 percent higher than their level at the end of the previous business cycle.[6]

Furthermore, the performance of the economy during the current business cycle has been slightly weaker overall than the economy’s average performance over the comparable period of other business cycles since the end of World War II. Investment growth during the current business cycle has been below the historical average, even though some of the Bush administration’s tax cuts have been specifically targeted at investment. Employment and wage and salary growth have been especially weak during the current business cycle.[7] If tax cuts are crucial to economic growth, then the current business cycle — with its large tax cuts — should strongly outperform previous business cycles. Instead, it has performed more poorly than average."

St Petersburg FL
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From the Center On Budget and Policy Priorities July 2006 article

cbpp dot org /3-8-06tax dot htm

"Have the Tax Cuts Increased Revenues?

After adjusting for inflation and population growth, this year and last year’s strong growth in revenues have barely made up for the deep revenue losses in 2001, 2002, and 2003. Measured since the current business cycle began in March 2001, total per-capita revenue growth, adjusted for inflation, has been near zero. Based on OMB’s latest revenue estimates, real per-capita revenues in 2006 will be only 0.2 percent above the level they attained more than five years ago at the start of the business cycle. In other words, the current revenue “surge” is merely restoring revenues to where they were half a decade ago."

St Petersburg FL
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unless...

Miramar FL
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"Only if you are at a certain point on the curve. Otherwise you could just push to cut tax rates to zero and reap the benefits. Obviously, this is a fallacy'' ........As in anything economics there is ALWAYS a point of demishing returns so that curve will always be there in anything you do( well unless your goods are either perfectly elastic or inelastic) . I see that you look at the government spending as the way to grow an economy.

Miramar FL
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Futhermore your point is the increase in revenue. You point to the fact that higher taxes increases revenue. That I will accept as fact it does. However with the incrase you get a stagnation of the economy as a whole which guives rise to inflation higher intrest rate etc. With a reduction in tax rates you get the more of an increase in revenue and to growth in the ecomony which leads to prosperity.

Miramar FL
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""Except that you don't have the reduction in the deficit to point to for Reagan and Bush, do you? "...Why did something happen differently with Kennedy.

Miramar FL
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TOPIC: The Swiftboating of Nancy Pelosi's Plane