The Bush tax cuts have been in effect since 2003...where are the jobs?
wiseones2cents
Verified User
Are you saying there hasn't been economic growth In America for the past 50 years? Though today the only growth we are seeing is in Asia.......
At the time Bush took office the economy had grown at a 1.1% annualized rate over the previous three quarters to March 31 of the first year of Bush presidency (see . Bush had his tax cut plan approved by Congress in June.
Overall real GDP grew at an average annual rate of 2.5%. Between 2001 and 2005, GDP growth was clocked at 2.8%. The number of jobs created grew by 6.5% on average. The growth in average salaries was 1.2%. Growth in consumer spending was 72% faster than growth in income. Investment in residential real-estate soared, growing 26% faster than average.
A March 2006 report by the United States Congress Joint Economic Committee showed that the U.S. economy outperformed its peer group of large developed economies from 2001 to 2005.
Are you claiming that the Bush tax cuts didn't grow the economy of 2001-2005 ?.....The effects of the tax cuts were not meant to affect the economy 10 years into an unknowable future economy and more than Kennedy's were to effect the economy 50 years in the future....
Don't you understand satire and sarcasm....?
The tax rates of TODAY are the doing of Obama and thats just the reality of the matter.....
wiseones2cents
Verified User
What is this Mumbo Jumbo? I want you to back your claim that America did not experience economic growth for the last 50 years.
The economy grew under Bush???ROTFLOL!! Man those economists really know how to fudge the numbers!!!! The only sectors that may have increased jobs under bush were oil and defense(two that he is heavily invested in). Also Bush hired alot of government workers heading the biggest government in history(so much for conservatism). The rest may have been stimulated by his garbage stimulus plan. Of which most were part time(temp) low paying jobs anyways.
Yes that is what I am claiming. Can you show me the number of jobs created under bush? Especially via tax cuts? Bet you cant. You know why? Most of those companies are sitting on huge cash reserves(especially in offshore accounts).
canceled.2021.1
#AMERICAISDEAD
Actually he didn't claim that there was no economic growth. He was blowing a hole through the meme that the bush tax cuts led to no growth.
The argument from the left is that the tax cuts passed in 2001 and 2003 and there is no economic growth now, so therefore tax cuts do not create growth.
He is blowing a hole in that argument by pointing out that the JFK tax cuts have been in place for 50 years and there is no economic growth, therefore JFK (a democrat) was a failure.
Maybe it is too nuanced an argument for you. I was unde the impression that left wingers understood nuance
canceled.2021.1
#AMERICAISDEAD
We were promised jobs in exchange for tax cuts.
The rich got the tax cuts.
Where are the jobs?
"Tax relief will create new jobs. Tax relief will generate new wealth. And tax relief will open new opportunities.
But even after adjusting for inflation, the U.S. government will collect twice as much income tax revenue in 2001 as it did in 1981."
http://georgewbush-whitehouse.archives.gov/news/releases/2001/04/20010416-4.html
New jobs were created from 2003 to 2007. The unemployment rate was below 5% which is considered full employment.
Did anyone claim that the tax cuts would keep us from losing jobs due to the financial meltdown?
You are a one trick pony arentcha puddin?
Why didn't Maobama take his Congressional majorities and repeal all of those dastardly tax cuts? He had two years to do it and he failed you. How sad for you
My apologies.....I didn't realize you were too stupid to recognize and understand satire and sarcasm....
I'll make a note of that and keep future replies to you on a level more in tune with your serious lack of intelligence.......
Don't be afraid to look up some facts on the early years or the Bush economy, on other than left-wing propaganda sites....as a matter of fact, an avg. of 5.2% unemployment over his ENTIRE 2 TERMS is quite a feat....considering his problems with a far left Congress and every committee controlled by Democrats for the last 2 years, driving us into the state we find ourselves in today....
canceled.2021.1
#AMERICAISDEAD
The accompanying charts show the job performance from July 1999, when the economy was booming and companies were complaining about how hard it was to find workers, through July of this year, when the economy was mired in the deepest and longest recession since World War II.
For the decade, there was a net gain of 121,000 private sector jobs, according to the survey of employers conducted each month by the Bureau of Labor Statistics.
In an economy with 109 million such jobs, that indicated an annual growth rate for the 10 years of 0.01 percent.
>
http://www.ritholtz.com/blog/2009/08/zero-10-year-us-job-creation/
how long before you pull this chart?
