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| quote: | Originally posted by rizen
hey you forgot to mention the econmy... his last tax cuts didnt create more jobs, whats new about this new tax cut that just recently passed? nothing, just more money for the rich and more jobs lost, over 2 million since bush took office if i remember correctly.
to answer your question, yes, bush is a hypocrite. the american people are sheep, and the corporate media never questions him |
Actually the first tax cuts DID provide economic stimulus and it did curb the recessionary trend that the economy was heading towards.
http://frwebgate.access.gpo.gov/cgi...=00ap03.txt.pdf
Simply take a look at the trend in GDP, employment, and personal income around the 2001/2002 period (take into account the recognition lag) and you can see a bottoming out effect that the tax cut accomplished. Additionally I posted an article previously that outlined the positive successes of the first tax in preventing economic recession. Simply because we didn't experience an economic boom of the 90's does not mean that it can be lauded as a failure. That being said, I disagree with this new tax cut in that the economic situation of the country is different. The first tax cut was needed to increase consumer confidence and consumer spending. Now we are suffering from high unemployment which requires increased fiscal spending rather than tax cuts.
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