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Reply to "Ryan gets booed at AARP"
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[quote=Anonymous]Federal receipts in each of Bush's last three years exceed any year under Obama. Are you saying there is no correlation between tax receipts and economic vitality? The delta becomes even greater when you consider state and local taxes. The drop in housing value and sales (second generation home sales are not a component of GDP) alone resulted in a substantial decrease in local real estate taxes and transactional home sale taxes. Offset of taxable income through losses in real estate, investment income also decreases federal revenue. This is not measured through GDP, but clearly investment windfall creates significant tax revenue. So there are a number of taxable events that occur outside of those measure by GDP. The point is, to increase the government's revenue, grow the economy. In this regard he President has failed.[/quote]
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