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(Think Progress)   Pawlenty: "My tax cuts will usher in a decade of 5% GDP growth." Fun fact: This has never been done before in the history of tracking America's GDP. Ever   (thinkprogress.org) divider line 133
    More: Fail, GDP growth, Tim Pawlenty, America's GDP, economic planning  
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1622 clicks; posted to Politics » on 07 Jun 2011 at 8:44 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2011-06-07 04:46:04 PM
The Church of Tax Cuts is going to have to blame liberals twice as hard when these cuts fail to boost the economy.

.
 
2011-06-07 05:23:00 PM
This time it's different.
 
2011-06-07 06:04:45 PM
Pawlenty: "My tax cuts will usher in a decade even higher deficits while I hypocritically claim that I give a flying fark about deficits."

Fixed it for him.
 
2011-06-07 06:07:06 PM
Because when you want to balance your budget, nothing works better than making less money.
 
2011-06-07 06:12:28 PM
www.fin.gc.ca

Just for perspective on the US's GDP growth rate in the last 4 decades.
 
2011-06-07 06:32:02 PM
Republican cure for an anorexic economy?


Starve it.
 
2011-06-07 06:34:02 PM
good start. Now put 100 percent tariffs on chinese imports.
 
2011-06-07 07:55:03 PM
This plan isn't optimistic. It isn't a bit vague. It's a joke. And I don't know which is worse: The thought that Pawlenty knows that and went forward with this pandering, fantasy-based proposal anyway, or the thought that he doesn't know it, and he really thinks this could work.

Link (new window)
 
2011-06-07 08:05:46 PM

RobertBruce: Now put 100 percent tariffs on chinese imports.


Well that would be fail as bad Pawlenty's suggestion.
 
2011-06-07 08:23:24 PM

RobertBruce: good start. Now put 100 percent tariffs on chinese imports.


Lets start a trade war with the Chinese! Now THAT is a good idea!
 
2011-06-07 08:38:03 PM

vernonFL: Lets start a trade war with the Chinese! Now THAT is a good idea!


Never mind we already know the tariff thing will do more harm than good thanks to the lessons of the Smoot Hawley Tariff Act.
 
2011-06-07 08:49:09 PM
Okay he wasn't this retarded when he was governor over here. Is there something about running for president under the R banner that causes people's IQ's to drop?
 
2011-06-07 08:53:25 PM

thatboyoverthere: Okay he wasn't this retarded when he was governor over here. Is there something about running for president under the R banner that causes people's IQ's to drop?


www.mediaite.com
 
2011-06-07 08:53:44 PM

thatboyoverthere: Okay he wasn't this retarded when he was governor over here. Is there something about running for president under the R banner that causes people's IQ's to drop?


Yes, it tends to drop to the level of their smartest non-millionaire Republican constituent.
 
2011-06-07 08:54:14 PM
Well, did anyone in the lamestream MSM media call him on it?
 
2011-06-07 08:55:02 PM

The Name: thatboyoverthere: Okay he wasn't this retarded when he was governor over here. Is there something about running for president under the R banner that causes people's IQ's to drop?

Yes, it tends to drop to the level of their smartest non-millionaire Republican constituent.


Yeah what I said, with more words and stuff...
 
2011-06-07 08:55:40 PM
4.bp.blogspot.com
 
2011-06-07 08:58:34 PM

thatboyoverthere: Okay he wasn't this retarded when he was governor over here.


He left MN with a $6.2B budget deficit. Among other things.

Link (new window)
 
2011-06-07 08:58:43 PM

thatboyoverthere: Okay he wasn't this retarded when he was governor over here. Is there something about running for president under the R banner that causes people's IQ's to drop?


They gotta please the derp birgade to win the primaries.
 
2011-06-07 08:59:24 PM
Well if cutting taxes to 10 and 25% nets us 5% growth, why don't we cut them down to 5% and 15%....would the GDP explode?
 
2011-06-07 09:00:45 PM

thenooch: Well if cutting taxes to 10 and 25% nets us 5% growth, why don't we cut them down to 5% and 15%....would the GDP implode?


FTFY
INDEED!
 
2011-06-07 09:00:57 PM
5% a year every year for a decade, or 5% for the whole decade?

/Either one is looking good these days
 
2011-06-07 09:01:12 PM
i234.photobucket.com
 
2011-06-07 09:01:34 PM

thenooch: Well if cutting taxes to 10 and 25% nets us 5% growth, why don't we cut them down to 5% and 15%....would the GDP explode?


Well, if you make the tax rate approach 0%, then the GPD, and thus revenue, will approach infinity. Free unicorns for all!
 
2011-06-07 09:02:49 PM
You know, we could balance the federal budget and goose economic growth even further if we simply abolished the federal government entirely.
 
2011-06-07 09:03:12 PM
The only reason that the GDP has never grown like that before is because we've never cut taxes low enough to allow it to.
 
2011-06-07 09:03:54 PM
There are pawlenty of things wrong with his statement.
 
2011-06-07 09:04:14 PM

RexTalionis: Just for perspective on the US's GDP growth rate in the last 4 decades.


Whoa. So from 1985-2000, minus recessions, the growth rate was stable. Once we recovered from the internet bubble recession, it looks like we took a downward trend. Anyone want to explain that (beyond "Bush tax cuts are teh stoopid!")? Wouldn't the housing bubble have pushed that up, instead?
 
2011-06-07 09:05:58 PM
"Insanity is doing the same thing over and over again but expecting different results."
-not Einstein, but Mae Brown in her book Sudden Death on Pg. 68 from 1983.
 
2011-06-07 09:06:14 PM

RexTalionis: Just for perspective on the US's GDP growth rate in the last 4 decades.


Say, what party was in the White House during each of those recessions?
 
2011-06-07 09:07:24 PM

WhyteRaven74: vernonFL: Lets start a trade war with the Chinese! Now THAT is a good idea!

Never mind we already know the tariff thing will do more harm than good thanks to the lessons of the Smoot Hawley Tariff Act.


You made my day right there.
 
2011-06-07 09:11:04 PM

Dusk-You-n-Me: thatboyoverthere: Okay he wasn't this retarded when he was governor over here.

He left MN with a $6.2B budget deficit. Among other things.

Link (new window)


I think that had more to do with the whole recession thing.

/He left it to the new guy to deal with.
 
2011-06-07 09:17:38 PM

thatboyoverthere: I think that had more to do with the whole recession thing.


I don't think decreasing taxes for the wealthiest 10% helped.
 
2011-06-07 09:22:14 PM
When I run for president, my economic policies will bring about 200% economic growth? How, I have no idea and neither does Pawlenty
 
2011-06-07 09:23:35 PM
cache.ohinternet.com
 
2011-06-07 09:24:47 PM
Soon to be followed by the disclaimer that his statement was not intended to be factual. This may become the new motto of political campaigns. Truth is not important as long as the falsehoods can sway the stupid.
 
2011-06-07 09:29:27 PM
The Bush tax cuts triggered the long downward spiral that led us to the crash of '08, and this guy wants to do more of that? Are these people farking insane??
 
2011-06-07 09:30:52 PM

dietbubba: When I run for president, my economic policies will bring about 200% economic growth? How, I have no idea and neither does Pawlenty


To be fair, you aren't offering lots of irresponsible tax cuts and deregulation as your only solution.
 
2011-06-07 09:32:17 PM

CokeBear: The Bush tax cuts triggered the long downward spiral that led us to the crash of '08, and this guy wants to do more of that? Are these people farking insane??


yes
 
2011-06-07 09:33:49 PM

monoski: Soon to be followed by the disclaimer that his statement was not intended to be factual. This may become the new motto of political campaigns. Truth is not important as long as the falsehoods can sway the stupid.


They _have_ been trained to mistrust the lamestream media.
 
2011-06-07 09:34:19 PM

Dusk-You-n-Me: thatboyoverthere: I think that had more to do with the whole recession thing.

I don't think decreasing taxes for the wealthiest 10% helped.


To be fair they did decrease them for everyone (who pays taxes) it just so happened that the number for the truly wealthy was more than some people will earn in a lifetime.
 
2011-06-07 09:34:26 PM

Sliding Carp: This time it's different.


Like an abusive husband....
 
2011-06-07 09:34:46 PM
At least he had the balls to put his name to a proposal. Can't think of any other candidates which have done so. Mainly because it's incredibly stupid to tie yourself down to specific proposals this early in the campaign with so much uncertainty left ahead. Imagine if Obama/McCain had tied themselves to a "I will never bail out any US company no matter what" policy in early 2008.
 
2011-06-07 09:34:56 PM

DistendedPendulusFrenulum: The Church of Tax Cuts is going to have to blame liberals twice as hard when these cuts fail to boost the economy.

.


"Somewhere a poor black child is eating government cheese, which is like Hitler shoving small businesses into the ovens!"
 
2011-06-07 09:39:02 PM
The best part about that chart is that the biggest GDP grown was when taxes were HIGHEST.

It's almost as if tax rates and GDP aren't really even related!
 
2011-06-07 09:40:32 PM

Dusk-You-n-Me: thatboyoverthere: I think that had more to do with the whole recession thing.

I don't think decreasing taxes for the wealthiest 10% helped.


True. I miss Governor Ventura. He did absolutely nothing during his administration.
/Like President Van Buren.
 
2011-06-07 09:44:34 PM
'Let' the economy grow by 5%? 'Let'?

It doesn't work that way. Every time I think the Democrats are doing something mildly off the mark, I look to the Republicans to remind me that there are people waiting in the wings with ideas that are actually explicitly bad.
 
2011-06-07 09:44:48 PM

monoski: To be fair they did decrease them for everyone (who pays taxes) it just so happened that the number for the truly wealthy was more than some people will earn in a lifetime.


According the link I posted taxes went up for 90% of middle and low-income families because local funding cuts by Pawlenty prompted local governments to increase property taxes. I don't know if one offset the other, and that particular fact doesn't have a citation that's clickable.
 
2011-06-07 09:45:17 PM
60% of Americans don't even pay taxees.

Until they die, and then ALL Americans pay a 90% DEATH TAX.
 
2011-06-07 09:49:55 PM

vernonFL: 60% of Americans don't even pay taxees.

Until they die, and then ALL Americans pay a 90% DEATH TAX.


THAT'S IT!

WE'VE SAVED THE ECONOMY!

/What do you mean 'why do you want me to walk in this oven?' grandma, JUST GET IN ALREADY I got a country to save
//not a factual statement
///maybe...
 
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