Obama vs. Bush: Who’s the Bigger Tax Cutter?

Discussion in 'Economy' started by WillowTree, Jan 1, 2012.

  1. WillowTree
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    WillowTree Diamond Member

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    It would be easy to assume that President George W. Bush cut taxes more in his first term.
    If you had to guess whether President George W. Bush or President Barack Obama cut taxes more in his first term, which one would you choose? Probably President Bush, right? After all, the “the Bush tax cuts” were massive. And President Obama is the one calling for the expiration of some of those tax cuts. He’s also pushing for more revenue as we try to address our long-term fiscal imbalance.

    Given all that, you could be forgiven for guessing that President Bush is the bigger tax cutter. But you’d actually be wrong. By the end of his first term, President Obama will have signed into law a series of tax cuts that, taken together, exceed the value of those signed into law by President Bush.

    President Obama’s tax cuts versus President Bush’s tax cuts
    President Bush enacted his tax cuts in 2001 and 2003, and over their 10-year lifespan, they reduced tax revenues by around $2.4 trillion, with $474 billion of that coming in the first four years. The first-term impact of those tax cuts is equivalent to about $574 billion in today’s dollars, or about 1.1 percent of gross domestic product.










    Obama vs. Bush: Who?s the Bigger Tax Cutter?
     
  2. WillowTree
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    WillowTree Diamond Member

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    Put it all together, and in one fell swoop, President Obama cut taxes by $654 billion in 2011 and 2012 alone. In other words, with this bill President Obama cut taxes by more, in raw dollar amounts, in just half of his term than George W. Bush did over his full first term.












    read it and weep cammmmmpppbelll the moron..





















    :eusa_boohoo:










    tissue?
     
  3. expat_panama
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    expat_panama Silver Member

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    Does that mean Obama is bad or does it mean tax cuts are good?
     

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