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the success of the bush tax cuts
On Wed, 08 Jun 2011 00:54:12 -0600, Canuck57
wrote: On 07/06/2011 6:18 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. ---------- 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. Where do you get this BS. Bush was not presiand dent in 2009 and 2010...unless of course he looked like Obama. As for debt spend, Obama has already added much more debt than Bush did in 8 years, problem is Obama isn't even through his first, and hopefully last term. Tax collections are low because producers are not making any money and with 8 million lost jobs off of 2006 Congress starting, plus replacement jobs are crap, well, you don't make it you don't get taxed on it. Bet a lot of people would love to go back to the 2002 and 2006 employment type stats. You know, before democratic congress of 2006 botched it up. There was no expansion in 2007, that is when the Congress was screwing with interest rates and market liquidity dried up. Hey, why should I lend money for nothing but a load of risk? Funny, and the top 20% of earners pay 80% of the taxes. So do you mean there is revenue in those 80% of the turnips? I know were you got your stupid... suggestion: stop banging your head on the wall so much. |
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