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View Diary: The Bush Tax cuts CAUSED the economic crisis (149 comments)

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  •  you don't know what they spent their (0+ / 0-)

    money on.

    could be many of them bought over priced mansions and got caught up in the same mess.

    •  check neroden's response below (0+ / 0-)
      •  you're going in the wrong direction (1+ / 0-)
        Recommended by:

        the tax cuts didn't cause the problem.

        everything would have been fine if say those fancy derivatives, the rating agencies and banks were well regulated.  if Greenspan hadn't left the spigot open then this might not have happened either.  if Bush had gotten his way and social security was privatized, they could have kept pumping the market for who knows how long.  

        lots of problems along the way that added or helped cause this problem, none of them being the tax cuts directly.  those tax cuts were 1.5 trillion over ten years.  they juiced the real estate market to hide no real economic growth and a jobless recovery early in the administration.  

        see they setup a system where it's heads they win and tails you lose.

        •  (likely) last time answering you (0+ / 0-)

          ok,  so clearly we disagree on the role the Bush Tax cuts played in the economic crisis, but I certainly dont disagree with your other reasoning as to other causes of the economic crisis.

          I doubt anything will convince you that the tax cuts were a major cause of (the "fuel" for) the speculative bubble that caused the crisis, but after writing this article and reading the responses (especially neorden, who makes the case better than me)  , i am more convinced of this than before.

          So i guess on this - we are at an impasse
          thanks for all the  comments on this story, and of course feel free to keep commenting.

          •  your problem here is you are starting (0+ / 0-)

            with a conclusion and working backwards.

              1. Define the question
              2. Gather information and resources (observe)
              3. Form hypothesis
              4. Perform experiment and collect data
              5. Analyze data
              6. Interpret data and draw conclusions that serve as a starting point for new hypothesis
              7. Publish results
              8. Retest (frequently done by other scientists)

            I'll get you started...

            1. What caused the crash in 2008.


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