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So How Did the Bush Tax Cuts Work Out for the Economy?

JakeFromWI

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A MUST READ. Don't even read the opinions. Look at the empirical facts. Look at the numbers and tell me Pelosi did all this....

So How Did the Bush Tax Cuts Work Out for the Economy?

Here's a short paragraph to give you an idea what economist/professor/pulitzer prize winner David Cay Johnston concludes of the Bush tax cuts.

"The tax cuts did not spur investment. Job growth in the George W. Bush years was one-seventh that of the Clinton years. Nixon and Ford did better than Bush on jobs. Wages fell during the last administration. Average incomes fell. The number of Americans in poverty, as officially measured, hit a 16-year high last year of 43.6 million, though a National Academy of Sciences study says that the real poverty figure is closer to 51 million. Food banks are swamped. Foreclosure signs are everywhere. Americans and their governments are drowning in debt. And at the nexus of tax and healthcare, Republican ideas perpetuate a cruel and immoral system that rations healthcare -- while consuming every sixth dollar in the economy and making businesses, especially small businesses, less efficient and less profitable."

Obama's fault what?
 

Councilman

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A MUST READ. Don't even read the opinions. Look at the empirical facts. Look at the numbers and tell me Pelosi did all this....

So How Did the Bush Tax Cuts Work Out for the Economy?

Here's a short paragraph to give you an idea what economist/professor/pulitzer prize winner David Cay Johnston concludes of the Bush tax cuts.

"The tax cuts did not spur investment. Job growth in the George W. Bush years was one-seventh that of the Clinton years. Nixon and Ford did better than Bush on jobs. Wages fell during the last administration. Average incomes fell. The number of Americans in poverty, as officially measured, hit a 16-year high last year of 43.6 million, though a National Academy of Sciences study says that the real poverty figure is closer to 51 million. Food banks are swamped. Foreclosure signs are everywhere. Americans and their governments are drowning in debt. And at the nexus of tax and healthcare, Republican ideas perpetuate a cruel and immoral system that rations healthcare -- while consuming every sixth dollar in the economy and making businesses, especially small businesses, less efficient and less profitable."

Obama's fault what?
This is a completely false assumption. I would say that a tax cut that is not followed by real real budget cuts is just like the Republican fire department going to a fire and taking miles of hose but having the Democrats turning off all the water and draining the truck.

Then the Democrats claim see all the Bells and whistles and still the house burned down and it's all your fault.

Also your use lies like
Republican ideas perpetuate a cruel and immoral system that rations healthcare
only serve to show you haven't a clue about the health care system which is still the best anywhere. And believe me I know because I have been in it most of my adult live as a patient and it didn't work I'd have been long since dead over 26 years ago.
 
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The_Patriot

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To blame one party while ignoring the other party is dishonest. Both parties are to blame for the situation we're in and it didn't even start during Bush's administration.
 

TurtleDude

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To blame one party while ignoring the other party is dishonest. Both parties are to blame for the situation we're in and it didn't even start during Bush's administration.
good point, the mess started with the New Deal where massive entitlement programs were created along with those who became dependent on them.

tax cuts helped those of us who pay too much in taxes
 

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To blame one party while ignoring the other party is dishonest. Both parties are to blame for the situation we're in and it didn't even start during Bush's administration.
I might agree if we were speaking in general and not talking about a specific fabricated claim.

All Democrats are not bad or dumb but ALL radical Socialists/Marxists/Leftists are and much worse.
 

pbrauer

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This is a completely false assumption. I would say that a tax cut that is not followed by real real budget cuts is just like the Republican fire department going to a fire and taking miles of hose but having the Democrats turning off all the water and draining the truck.
How about addressing the article in the OP:


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.
 
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Tashah

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Moderator's Warning:
Moved from Mainstream Media to Blogs
 

buck

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A MUST READ. Don't even read the opinions. Look at the empirical facts. Look at the numbers and tell me Pelosi did all this....

So How Did the Bush Tax Cuts Work Out for the Economy?

Here's a short paragraph to give you an idea what economist/professor/pulitzer prize winner David Cay Johnston concludes of the Bush tax cuts.

"The tax cuts did not spur investment. Job growth in the George W. Bush years was one-seventh that of the Clinton years. Nixon and Ford did better than Bush on jobs. Wages fell during the last administration. Average incomes fell. The number of Americans in poverty, as officially measured, hit a 16-year high last year of 43.6 million, though a National Academy of Sciences study says that the real poverty figure is closer to 51 million. Food banks are swamped. Foreclosure signs are everywhere. Americans and their governments are drowning in debt. And at the nexus of tax and healthcare, Republican ideas perpetuate a cruel and immoral system that rations healthcare -- while consuming every sixth dollar in the economy and making businesses, especially small businesses, less efficient and less profitable."

Obama's fault what?
Did the author take into account the inherited recession, 9/11, and the new recession when reaching his conclusions that the tax cuts were not helpful (hint, the tax cuts did not bring about the second recession)?

Using his method (unemployment is up, more people in poverty, more layoffs, lower household incomes, you can reach the conclusion that Obama's TARPII and the other bailouts were complete failures and wastes of money. However, I would bet that you would agree with me that if not for those programs (which I disagree with) things would most likely have been even worse.

It's the same thing with the tax cuts. Things were bad due to cirucumstances outside of the tax cuts, if not for the tax cuts, things would have most likely been worse.
 
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winston53660

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It's the same thing with the tax cuts. Things were bad due to cirucumstances outside of the tax cuts, if not for the tax cuts, things would have most likely been worse.
What nation goes to war and cuts taxes?
 

buck

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What nation goes to war and cuts taxes?
Who cares. The tax cuts were enacted to help fight an inherited recession that was made worse by 9/11 attacks. If not for the tax cuts, it's likely that the economic situation would have been even worse then it was. At that point the least of your concerns would have been tax cuts while fighting a war.
 

winston53660

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Who cares. The tax cuts were enacted to help fight an inherited recession that was made worse by 9/11 attacks. If not for the tax cuts, it's likely that the economic situation would have been even worse then it was. At that point the least of your concerns would have been tax cuts while fighting a war.

Well just paint me silly but I worry about haw to pay for things.
 

Deuce

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Well just paint me silly but I worry about haw to pay for things.
Cut taxes, raise spending, and start two wars? Don't worry, it'll be ok!
 

TurtleDude

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Cut taxes, raise spending, and start two wars? Don't worry, it'll be ok!
so your answer is backing the obamunist massive spending increases while only raising taxes on people who already pay far far more than they use and who do not DRIVE the DESIRE for more government sociali spending?
 

apdst

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Let me guess: the newest excuse for the recession is Bush's tax cuts?
 

apdst

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Total income was $2.74 trillion less during the eight Bush years than if incomes had stayed at 2000 levels.
So, let me get this straight: people made less money because the government took less money out of their pockets?

Everyone that can see how idiotic that sounds, please raise your hand.
 

TurtleDude

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Let me guess: the newest excuse for the recession is Bush's tax cuts?
the Bush tax cuts did cause a massive depression

the people who already pay most of the taxes getting a tax cut caused massive depression in the greedy, the envious, the spiteful and the hateful class warfare operatives who bash the rich to buy the votes of the non-industrious
 

buck

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Well just paint me silly but I worry about haw to pay for things.
Who cares what you worry about. The fact is that we were in recession made worse by 9/11. The tax cuts did not cause all the things that the auhor of the article in the op is claiming.

Tax cuts didn't cause the recession inherited by the bush admin, nor did they cause 9/11 which made the recession even worse. Tax cuts didn't cause the real estate bubble to inflate (or if you believe that it did, you are contradicting the author of the article when he states they don't spur investment) nor did it cause the real estate bubble to pop. The popping of the real estate bubble led to the current recession, not tax cuts.
 
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