Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
"Total income was $2.74 trillion less during the eight Bush years than if incomes had stayed at 2000 levels.
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.
In only two of the eight Bush years, 2006 and 2007, were average incomes higher than in 2000, but the gains were highly concentrated at the top. Of the total increase in income in 2007 over that in 2005, nearly 30 percent went to taxpayers who made $1 million or more.
Now let's look at wages, the source of most people's income. In 2008 the average taxpayer made $58,000. That was $5,100 less than in 2007, a decline of 8.1 percent.
Job growth in the George W. Bush years was one-seventh that of the Clinton years. Nixon and Ford did better than Bush on jobs. Wages fell during the last administration. Average incomes fell. The number of Americans in poverty, as officially measured, hit a 16-year high last year of 43.6 million, though a National Academy of Sciences study says that the real poverty figure is closer to 51 million."
Either the tax cuts DID NOT work, or the goal of the tax cuts was to destroy jobs and capital for most American families, and it DID WORK.
This information proves what everyone knew already: Republicans don't understand the economy. If your only solution to a massively complicated machine like the economy is "Tax Cuts," this is the situation you arrive at.
Before anyone calls me a partisan hack, I don't think the Democrats understand the economy either. I think both parties have bought into the conventional wisdom of Washington that tax cuts for the wealthy and lax regulation on wall-street are keys to financial stability in this country. We need a new model for understanding the economy that does not feed into the propaganda of the billionaires and corporations.
I agree, however you can find the stats at irs.gov for all years including 2010: http://www.irs.gov/taxstats/article/0,,id=205182,00.html (broken link)
"Total income was $2.74 trillion less during the eight Bush years than if incomes had stayed at 2000 levels.
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.
In only two of the eight Bush years, 2006 and 2007, were average incomes higher than in 2000, but the gains were highly concentrated at the top. Of the total increase in income in 2007 over that in 2005, nearly 30 percent went to taxpayers who made $1 million or more.
Now let's look at wages, the source of most people's income. In 2008 the average taxpayer made $58,000. That was $5,100 less than in 2007, a decline of 8.1 percent.
Job growth in the George W. Bush years was one-seventh that of the Clinton years. Nixon and Ford did better than Bush on jobs. Wages fell during the last administration. Average incomes fell. The number of Americans in poverty, as officially measured, hit a 16-year high last year of 43.6 million, though a National Academy of Sciences study says that the real poverty figure is closer to 51 million."
When Nixon and Ford were president, the US was a net exporter.
When Clinton was president, the Congress was controlled for the six years leading up to 2000 by Republicans. After the Democrats tried to force their radical agenda through for two years and ran afoul of the voters in 1994 as a result, Clinton was forced to accept changes he didn't want.
But they were changes the voters wanted so he had to accept them. The positive reforms that gave us the robust economy of the 1990s were accomplished with WJC throwing a tantrum.
Governments don't create jobs or wealth. Government creates one thing only....more government. Governments only meddle in enterprises in order to confiscate the wealth created by someone else. Matters not who is in the white house.
"Total income was $2.74 trillion less during the eight Bush years than if incomes had stayed at 2000 levels.
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.
In only two of the eight Bush years, 2006 and 2007, were average incomes higher than in 2000, but the gains were highly concentrated at the top. Of the total increase in income in 2007 over that in 2005, nearly 30 percent went to taxpayers who made $1 million or more.
Now let's look at wages, the source of most people's income. In 2008 the average taxpayer made $58,000. That was $5,100 less than in 2007, a decline of 8.1 percent.
Job growth in the George W. Bush years was one-seventh that of the Clinton years. Nixon and Ford did better than Bush on jobs. Wages fell during the last administration. Average incomes fell. The number of Americans in poverty, as officially measured, hit a 16-year high last year of 43.6 million, though a National Academy of Sciences study says that the real poverty figure is closer to 51 million."
Either the tax cuts DID NOT work, or the goal of the tax cuts was to destroy jobs and capital for most American families, and it DID WORK.
This information proves what everyone knew already: Republicans don't understand the economy. If your only solution to a massively complicated machine like the economy is "Tax Cuts," this is the situation you arrive at.
Before anyone calls me a partisan hack, I don't think the Democrats understand the economy either. I think both parties have bought into the conventional wisdom of Washington that tax cuts for the wealthy and lax regulation on wall-street are keys to financial stability in this country. We need a new model for understanding the economy that does not feed into the propaganda of the billionaires and corporations.
Who needs these numbers? A sure-DEPRESSION was what were were headed towards when Obama took office. Bush's presidency was an utter failure and his policies stunk pretty bad. The economy was in shambles, 49 states an an economic free fall because of 8 years of Bush/Republican incompetence. All are still staggering from the stench that was Bush's agenda. The results speak for themselves, the tax cuts did NOT help. This is clear to all except the clueless regressives.
To recap: The Red states were wrong; Neocons were wrong; Republicans were wrong; Conservatives were wrong; Cheney, Bush, Rove, Limbaugh, Kristol, Gingrich - all wrong and misguided. Trickle-down, deregulation, small government, tax cuts, warmongering ALL FAILED! Despite the collosal failure, this sorry mindset is still being shoved in our faces by the third string: Palin, Beck, Limbaugh, Romney, and the rest of the usual suspects. Quite pathetic is what it is.Of course the Bush tax cuts failed.
Who needs these numbers? A sure-DEPRESSION was what were were headed towards when Obama took office. Bush's presidency was an utter failure and his policies stunk pretty bad. The economy was in shambles, 49 states an an economic free fall because of 8 years of Bush/Republican incompetence. All are still staggering from the stench that was Bush's agenda. The results speak for themselves, the tax cuts did NOT help. This is clear to all except the clueless regressives.
To recap: The Red states were wrong; Neocons were wrong; Republicans were wrong; Conservatives were wrong; Cheney, Bush, Rove, Limbaugh, Kristol, Gingrich - all wrong and misguided. Trickle-down, deregulation, small government, tax cuts, warmongering ALL FAILED! Despite the collosal failure, this sorry mindset is still being shoved in our faces by the third string: Palin, Beck, Limbaugh, Romney, and the rest of the usual suspects. Quite pathetic is what it is.Of course the Bush tax cuts failed.
you should keep this post & frame it
That way you will have something to hold onto since liberalism is dead
you should keep this post & frame it
That way you will have something to hold onto since liberalism is dead
Thanks for reading it and giving me the power to affect YOU.
The conservative ideology stinks, no question...Bush tax cuts yet another example of the idiocy that is Pubthink.
Question: When it became obvious that the Bush tax cuts weren't working to spur the economy, why didn't Bush and Pubs change course and try something else? Why continue to give favors to the rich at the expense of everyone else? It stinks. It really does.
Thanks for reading it and giving me the power to affect YOU.
The conservative ideology stinks, no question...Bush tax cuts yet another example of the idiocy that is Pubthink.
Question: When it became obvious that the Bush tax cuts weren't working to spur the economy, why didn't Bush and Pubs change course and try something else? Why continue to give favors to the rich at the expense of everyone else? It stinks. It really does.
personal responsibility sucks
and besides it's the governments job to make everything right for us.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The benefit of hindsight
Of course the Bush tax cuts failed.
