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A Good Media Strategy Trumps Facts

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October 29, 2010 – Comments (4)

Poll: Americans Don't Know Economy Expanded With Tax Cuts

(sigh)

 

The Obama administration cut taxes for middle-class Americans, expects to make a profit on the hundreds of billions of dollars spent to rescue Wall Street banks and has overseen an economy that has grown for the past five quarters.

Most voters don’t believe it.

...

“He’s all about raising taxes,” says poll respondent Jeanette Bagley, 74, a retired home health aide in a suburb of St. Paul, Minnesota. “He’s all about big government and big spending.”

  

Matt 

4 Comments – Post Your Own

#1) On October 29, 2010 at 4:14 PM, dbjella (< 20) wrote:

Do you think Obama would go out and ask for another middle class tax cut?

If we believe that tax cuts lead to prosperity, then I suggest we keep cutting.

My guess is that GDP growth has more to due with money supply expansion, but what do I know :)

I do know that I took a 20% pay cut in this recession/depression and have changed my spending habits drastically. 

 

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#2) On October 29, 2010 at 5:20 PM, TMFKopp (97.01) wrote:

@dbjella

The economy is certainly not in good shape, but how can we get anything worthwhile done if people aren't even acting/thinking/VOTING on the basis of facts?

Matt 

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#3) On October 29, 2010 at 5:26 PM, FleaBagger (28.07) wrote:

When I saw that headline, I thought it was from the Onion. The economy is expanding? I wonder why the poor and middle class have less money and lower incomes than they had a year ago, while commodity prices are up 10-75% over the past year.

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#4) On October 29, 2010 at 6:00 PM, davejh23 (< 20) wrote:

"The economy is certainly not in good shape, but how can we get anything worthwhile done if people aren't even acting/thinking/VOTING on the basis of facts?"

Who says they don't have their facts straight?  The Obama administration passed one TEMPORARY tax cut, and passed other legislation that will, in the future, raise taxes for everyone.

Wasn't it Barofsky who just wrote an extremely scathing piece ripping to shreds the notion that TARP will turn a profit?...not to mention the hundreds of billions that will be lost on Fannie and Freddie.  Hmm...the man in charge calling out the administration on their lies...I'm willing to trust him more than anyone else that just pulls stats out of their @**.

Who's to say that the economy has actually been growing for 5 consecutive quarters?  Sure, we've seen modest GDP growth (as reported)...all while millions of Americans have been added to foodstamp roles, and hundreds of thousands are falling off long-term unemployment roles each month.  Look at today's preliminary GDP report (which will be revised lower in coming months).  Real final sales are weakening.  Inventory build accounted for most of the growth...something that creates no real value for American workers.  The real economy has been contracting for at least the last 5 months...starting at the end of Q2.

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