Monday, June 6, 2011

Profile In Failure: A Look Back At Ten Years Of The Bush Tax Cuts | ThinkProgress

Ten years ago what did President Bush say would "generate new wealth," and would "open new opportunities." Eight years ago he also said this same policy would "bring real and immediate benefits to middle-income Americans" and it would also "speed up economic recovery and the pace of job creation.” So since 2001 and 2003 is this what we have been experiencing? Who has new wealth? How many of us have new opportunities? Are you as a middle-income Am. gotten real and immediate benefits? And don't we all agree that we have had an economic recovery and an increase in job creation? Was Bush right? Who are the people that have benefited in the last ten years? Who are the people that have benefited in the last eight years?

It wasn't me and it wasn't my middle income. I have no new wealth and worry about my sons' opportunities in the future.

The above quotes are what Bush said on April 16, 2001 and also two years later about the benefits of the tax reductions for the rich. The only people benefiting from the tax cuts are the rich! Nothing that Bush said would happen has happened. Reaganomics didn't work in the 80's and isn't working now. The time that we prospered were during Clinton's tax increases!!! Read more about it at: ThinkProgress Ten Years Of The Bush Tax Cuts By Pat Garofalo on Jun 6, 2011

"It is odd, given the fantastically poor record of the Bush tax cuts on all of these measures, that conservatives are making exactly the same case for why they should be extended. Sen. Orrin Hatch (R-UT), for example, came out strongly against allowing the cuts for the wealthy to expire, saying, “If we want to spur economic growth and reduce the deficit, then let's stop these massive job-killing tax hikes.” Why does he think that if the tax cuts didn’t work the first time, that this time will be any different?"

"Lower taxes for the rich don’t help the economy, they cost too much, the money could be put to much better use, and nearly everyone in the country would be completely unaffected if we simply let the rates go back to where they were under President Clinton."

GREAT POINT by Michael Linden & Michael Ettlinger in their conclusion:  "If conservatives really want tax relief, let them join with progressives to pass permanent tax cuts for 98 percent of Americans. If they want to continue protecting tax breaks for the rich in spite of all the evidence against them, they are free to do so, but they shouldn’t hold everyone else’s tax returns hostage in the meantime."

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