The GOP got their tax cuts - where are the jobs?

  • Thread starter Thread starter Guns Guns Guns
  • Start date Start date

Have the Bush tax cuts worked as he promised?

  • Yes

    Votes: 0 0.0%

  • No

    Votes: 0 0.0%
  • Total voters
    0
  • Poll closed .
G

Guns Guns Guns

Guest
"Tax relief will create new jobs. Tax relief will generate new wealth. And tax relief will open new opportunities."

George W. Bush


http://georgewbush-whitehouse.archives.gov/news/releases/2001/04/20010416-4.html




The 2008 income tax data are now in, so we can assess the fulfillment of the Republican promise that tax cuts would produce widespread prosperity by looking at all the years of the George W. Bush presidency.


Just as they did in 2000, the Republicans are running this year on an economic platform of tax cuts, especially making the tax cuts permanent for the richest among us.


So how did the tax cuts work out?


My analysis of the new data, with all figures in 2008 dollars:


  • Total income was $2.74 trillion less during the eight Bush years than if incomes had stayed at 2000 levels.


That much additional income would have more than made up for the lack of demand that keeps us mired in the Great Recession.


That would mean no need for a stimulus, although it would not have affected the last administration's interfering with market capitalism by bailing out irresponsible Wall Streeters instead of letting the market determine their fortunes.



http://www.tax.com/taxcom/taxblog.nsf/Permalink/CHAS-89LPZ9
 
.ANY President that can boast of an average unemployment rate of 5.3% over

an 8 year period, in spite of a horrendous terrorist attack on the

economic center of not only the country but having a world wide impact is a

wonderful record....the stable and growing economy from 2001 through

2008 in just undeniable history.....like it or not....
 
In case you missed it....

average unemployment rate of 5.3% over

an 8 year period under GW Bush.....
 
Poor Blabo.


Employment under Bush grew by 4.5 percent using CES and 7 percent using CPS, whereas employment grew by double digits under presidents Bill Clinton and Ronald Reagan, and also under the combined eight-year administrations of Richard Nixon and Gerald Ford, who finished Nixon's term after he resigned, and John F. Kennedy and Lyndon B. Johnson.

Only under Eisenhower was job growth more sluggish than it was under George W. Bush, and even then, it was only the case using one of the two BLS statistics.


http://www.politifact.com/truth-o-m...oehner-says-bush-tax-cuts-created-8-million-/
 
The Bush tax cuts didn’t just fail to stack up on jobs.


Overall economic growth was much slower under the Bush administration’s tax policies than under the Clinton administration’s tax policies.


Real gross domestic product grew by 26 percent in the six years after Clinton’s tax increases.


But real GDP grew by just 16 percent in the six years after the Bush tax cuts began.


In fact, that six-year growth rate was low even by general historical standards.


The average real GDP growth in any given six year period (from any quarter to the same quarter six years later) since World War II was 22 percent.


​


ra2021539868.jpe







http://www.americanprogress.org/issues/2010/07/let_cuts_expire.html
 
You must log in or register to reply here.
Back
Top