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North Star North Star is offline
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First recorded activity by BoatBanter: May 2011
Posts: 1,786
Default the success of the bush tax cuts

On Jun 7, 9:18*pm, wf3h wrote:
while the ku klux clowns are blaming obama for bush's turning the
economy over to the chinese, let's look at the effects of 10 years of
bush tax cuts

http://motherjones.com/mojo/2011/06/...-bush-tax-cuts

Between 2001 and 2010, the Bush tax cuts added $2.6 trillion to the
public debt, 50 percent of the total debt accrued during that time.
Over the past 10 years, the country has spent more than $400 billion
just servicing the debt created by the cuts.

Tax collections have plunged to their lowest share of the economy in
60 years.

Between 2002 and 2007, employment increased by less than 1 percent
when the economy was supposed to be expanding. Employment growth
barely kept pace with population growth. Between the end of 2001, when
the country was in a recession, and the peak of the real estate
bubble, er, economic expansion in 2007, the US economy performed worse
than at any time since the end of World War II.

Median weekly earnings fell more than 2 percent between 2001 and 2007.
Meanwhile, people making over $3 million a year, who account for just
0.1 percent of taxpayers, got an average tax cut of $520,000, more
than 450 times what the average middle-income family received.

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and the right wing tells us how WONDERFUL this is...the rich are
getting richer...the middle class, worthless scum that they are, are
paying for it.

as god intended.


Sure sounds like the rich & their politician puppets want to 'get
theirs' before the house of cards tumbles down.