An Indication that Bush Tax Cuts were a Failure
This is for those who automatically think ANY AND ALL tax cuts are good for the economy. Something to consider...
"There is no way to know for sure how the ecoomy would have fared without the Bush tax cuts. But the evidence we have does not suggest the cuts were especially good for growth. The expansion that begain in 2001 and ended in 2007 (new recession began) had average economic growth of 2.7%.That was the SLOWEST OF ANY EXPANSION SINCE World War 2. Some of this is a reflection of slowing growth in the working-age population. If you control for these demographic changes, the 2001 -7 expansion compares favorably with the 1970's, but that's not exactly high praise. No matter how you examine the numbers, the Bush expansion was significantly weaker thatn the exapnsions of the 1990's and 190's. It hard to see how the cuts induced a lot of additonal investment or persuaded a lot of people to enter the work force."
"might it have been even worse without tax cuts? Sure. but the burden of proof certainly seems to rest with anybody who tries to make that case"