R
rdean
Guest
The Bush Era Tax Cuts Didn't Create The Wealth They Were Supposed To
The Republican Party has long promoted itself as the party of business.
All we need to do is to give those at the very top of the income distribution – the “job creators” – more income through tax breaks, and then sit back and wait for the magic happen.
Our investment in the wealthy will produce remarkable economic growth, and everyone will be better off.
The Bush tax cuts were a test of these claims about supply-side economic policies.
The tax cuts wouldn’t cost us anything. Growth would be so strong that the tax cuts would more than pay for themselves.
The Bush tax cuts have already cost us trillions in revenue, and if they are extended for high income tax payers, they will cost us roughly another trillion over the next decade.
In fact, the Bush tax cuts can be thought of as a loan from the Social Security Trust Fund that was supposed to be paid back with the revenues from higher economic growth, a loan that is presently in default.
However, if the Republican Party is truly the party of business, then surely it will understand that no responsible financial institution would continue to invest in a business that failed meet, or even come close to the growth and revenue projections that justified the investment in the first place.
A true party of business would end our investment in the false promise of supply-side economics. However, a party with a goal of reducing the scale of programs such as Social Security and Medicare along with delivering tax cuts to wealthy political backers would use arguments about the economic effects of tax cuts to disguise its true intentions.
Unemployment benefits: not until Bush tax cuts pass, Senate GOP says
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Republicans really got us with that one, didn't they? Does the base feel as stupid as their policies? They don't even deny that if they get into office, they will finish the job.
The Republican Party has long promoted itself as the party of business.
All we need to do is to give those at the very top of the income distribution – the “job creators” – more income through tax breaks, and then sit back and wait for the magic happen.
Our investment in the wealthy will produce remarkable economic growth, and everyone will be better off.
The Bush tax cuts were a test of these claims about supply-side economic policies.
The tax cuts wouldn’t cost us anything. Growth would be so strong that the tax cuts would more than pay for themselves.
The Bush tax cuts have already cost us trillions in revenue, and if they are extended for high income tax payers, they will cost us roughly another trillion over the next decade.
In fact, the Bush tax cuts can be thought of as a loan from the Social Security Trust Fund that was supposed to be paid back with the revenues from higher economic growth, a loan that is presently in default.
However, if the Republican Party is truly the party of business, then surely it will understand that no responsible financial institution would continue to invest in a business that failed meet, or even come close to the growth and revenue projections that justified the investment in the first place.
A true party of business would end our investment in the false promise of supply-side economics. However, a party with a goal of reducing the scale of programs such as Social Security and Medicare along with delivering tax cuts to wealthy political backers would use arguments about the economic effects of tax cuts to disguise its true intentions.
Unemployment benefits: not until Bush tax cuts pass, Senate GOP says
----------------------------------
Republicans really got us with that one, didn't they? Does the base feel as stupid as their policies? They don't even deny that if they get into office, they will finish the job.