Tax Cuts Fail to Spur Growth
February 20th, 2006 | by Paul Merda |You would think that if Dear Leader was truly interested in making America stronger that he would do the right thing and call for his tax-cuts to be rescinded. But, we all know Dear Leader is not motivated by what is best for the USA, he is motivated by what is best for him and his wealthy friends. On nearly every measure NOT used by the Administration, the US economy is in the tank. Business Investment is down compared to the past. Job creation has stayed stagnant so much so that OFFICIALLY, there are one million fewer people working today than 5 years ago. Wages and income are still staying low mostly due to the fact that demand for employees is down (see job creation). The average GDP growth for the past 5 years is 2.7%, in the past during similar business cycles, growth was at 3.2%. It’s time to remove the tax cuts passed in 2001 and 2003 because thay are NOT having the desired effect. American Progress has more…
One Response to “Tax Cuts Fail to Spur Growth”
By Tom Harper on Feb 20, 2006 | Reply
The only growth spurred by the tax cuts is in the bank accounts of people who were already very well-off. But wait, some of that money will trickle down to the rest of us…