The Bush Tax Cuts: A Decade of Economic Disaster

[marmar]

via CommonDreams:



Published on Friday, June 17, 2011 by The Providence Journal
The Bush Tax Cuts: A Decade of Economic Disaster

by William Barclay


This month marks the 10th anniversary of the first of the two tax cuts sought by President George W. Bush. The Economic Growth and Tax Relief Reconciliation Act was enacted in 2001 to be followed, in 2003, by the Jobs and Growth Tax Relief Reconciliation Act.

Ten years later, it is time we assess the actual results of these tax cuts, looking at economic performance rather than political promises. The results have been a disaster for the U.S. economy and for almost all of the American people. We have had very slow income and employment growth for the vast majority of families, an extremely unequal distribution of the direct financial benefits from these measures and very slow growth in the economy as a whole.

As a high-income person who has received these tax cuts during the past 10 years, I feel that it is my responsibility to speak out.

Supporters of tax cuts for high-income households, such as House Speaker John Boehner (R.-Ohio), argue that rich people are the “job creators” and that tax cuts encourage them to create jobs and that these new jobs, in turn, increase employment opportunities and improve the wages of the rest of the population. ............(more)

The complete piece is at: http://www.commondreams.org/view/2011/06/17-4

[bif]

1. Excellent article

Thanks for posting.

[Dawgs]

2. Shouldn't that be Bush/Obama Tax Cuts.

It is if you include this year and next.

[thelordofhell]

3. Rich people are "job destroyers"

The more money they make, the less money for new jobs.