Skip to content
February 25, 2013 / needhamgrassroots

If Tax Cuts Created Jobs, George Bush Would Have

tax cuts don't create jobsIf tax cuts created jobs, George W. Bush woulda created some. But he didn’t. In fact, his job creation record was the worst in US history. So, yeah, no, tax cuts don’t create job. Cutting and austerity don’t create jobs.

From the Wall Street Journal staff writers:

President Bush [43], once taking account how long he’s been in office, shows the worst track record for job creation since the government began keeping records.

Read more: Bush On Jobs: The Worst Track Record On Record – Real Time Economics – WSJ – (1/29/2009)  http://s.shr.lc/50yURb

Another take:

NYTimes — The defining economic policy of the last decade, of course, was the Bush tax cuts. President George W. Bush and Congress, including Mr. Ryan, passed a large tax cut in 2001, sped up its implementation in 2003 and predicted that prosperity would follow.

The economic growth that actually followed — indeed, the whole history of the last 20 years — offers one of the most serious challenges to modern conservatism. Bill Clinton and the elder George Bush both raised taxes in the early 1990s, and conservatives predicted disaster. Instead, the economy boomed, and incomes grew at their fastest pace since the 1960s. Then came the younger Mr. Bush, the tax cuts, the disappointing expansion and the worst downturn since the Depression.

From: Do Tax Cuts Lead to Economic Growth? (9/2012) – NYTimes.com – http://s.shr.lc/YTXM1i

Or try this one:

CNBC — Cutting taxes for the wealthy does not generate faster economic growth, according to a new report. But those cuts may widen the income gap between the rich and the rest, according to a new report.

A study from the Congressional Research Service — the non-partisan research office for Congress — shows that “there is little evidence over the past 65 years that tax cuts for the highest earners are associated with savings, investment or productivity growth.”

In fact, the study found that higher tax rates for the wealthy are statistically associated with higher levels of growth.

From: Study: Tax Cuts for the Rich Don’t Spur Growth – Yahoo! Finance – (9/17/2012) http://s.shr.lc/PA1dGY

or try some more

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: