bindelh
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Fri Sep-24-10 07:24 PM
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So How Did the Bush Tax Cuts Work Out for the Economy? |
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Total income was $2.74 trillion less during the eight Bush years than if incomes had stayed at 2000 levels. http://tax.com/taxcom/taxblog.nsf/Permalink/CHAS-89LPZ9?OpenDocument">You made less in 2008 than 2000
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opihimoimoi
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Fri Sep-24-10 07:27 PM
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1. One of the Principle reasons for our Nations current Plight |
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it concentrated OBSCENE wealth into the hands of a few....leaving us crumbs...errr... "Cake"
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bindelh
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Fri Sep-24-10 07:34 PM
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Total income was $2.74 trillion less during the eight Bush years than if incomes had stayed at 2000 levels.
That much additional income would have more than made up for the lack of demand that keeps us mired in the Great Recession. That would mean no need for a stimulus, although it would not have affected the last administration's interfering with market capitalism by bailing out irresponsible Wall Streeters instead of letting the market determine their fortunes.
In only two years was total income up, but even when those years are combined they exceed the declines in only one of the other six years.
Even if we limit the analysis by starting in 2003, when the dividend and capital gains tax cuts began, through the peak year of 2007, the result is still less income than at the 2000 level. Total income was down $951 billion during those four years.
Average incomes fell. Average taxpayer income was down $3,512, or 5.7 percent, in 2008 compared with 2000, President Bush's own benchmark year for his promises of prosperity through tax cuts.
Had incomes stayed at 2000 levels, the average taxpayer would have earned almost $21,000 more over those eight years. That's almost $50 per week.
John Boehner said the Republican agenda will not change after the 2010 elections. At this rate how much more will the American wage earner loose in the next decade if the Republicans are driving the economic bus?
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opihimoimoi
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Fri Sep-24-10 09:07 PM
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4. Americans are starting to Realize The GOP MUST BE DEFEATED for the Health of the NATION |
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American are NOT THAT STUPID to suck for Pledge 2
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subterranean
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Fri Sep-24-10 08:40 PM
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3. Job creation was the worst of any two-term president since WW2. |
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Bush left office with a net increase of just 1 million jobs to show for his eight years. Even during the period of growth sandwiched between the two recessions, the economy added only 1.2 million jobs annually. During Clinton's term, average annual job growth was roughly twice that level, despite higher taxes.
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Clio the Leo
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Fri Sep-24-10 09:30 PM
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5. KO's segment on this tonight was brilliant ... |
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.... thanks in large part to this article.
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DU
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Wed May 08th 2024, 12:34 AM
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