ib1yysguy
Junior Member
Some facts about Bush's economy:
1) More than half of the tax breaks Bush gave in 2003 went to people making $1 million or more. The idea was that this would "trickle" down. You'll see shortly why that clearly hasn't happened.
2) Friday's jobs report was pretty damn bad. We've added eight million jobs since the bush tax cuts, which sounds good until you remember that much of that was just making up for job losses under Bush (he's the only president since Hoover to end his term with less jobs than he started with) and that Clinton added 21 million jobs after raising taxes on the rich, not lowering them.
3) Four years of the Bush economy have done just about nothing for the average joe. Wages, adjusted for inflation, have stagnated: the real hourly earnings of nonsupervisory workers, the most widely used measure of how typical workers are faring, were no higher in July 2007 than they were in July 2003.
4) Along with employment disappearing, so too did health coverage decline early in the Bush administration. So loss of benefits and stagnant wages.
5) Housing market, one of the Bush economy's few bright spots, turned out to be a house of cards.
6) 66 percent of Americans rate the economy as fair or poor.
At the same time:
7) Corporate profits rose from 2003 to 2007.
8) Real income of the 0.1 percent of richest Americans rose 51 percent between 2003 and 2005, with no data available for 2006.
How much more evidence does one need to know that "trickle down" really is "voodoo" economics? Rising tides haven't raised boats for most people. It's drowned a few, in fact.
The "Bush Boom" has ended. Time to pick up the mess.
(facts contained within were pulled from a NY Times op ed this morning)
1) More than half of the tax breaks Bush gave in 2003 went to people making $1 million or more. The idea was that this would "trickle" down. You'll see shortly why that clearly hasn't happened.
2) Friday's jobs report was pretty damn bad. We've added eight million jobs since the bush tax cuts, which sounds good until you remember that much of that was just making up for job losses under Bush (he's the only president since Hoover to end his term with less jobs than he started with) and that Clinton added 21 million jobs after raising taxes on the rich, not lowering them.
3) Four years of the Bush economy have done just about nothing for the average joe. Wages, adjusted for inflation, have stagnated: the real hourly earnings of nonsupervisory workers, the most widely used measure of how typical workers are faring, were no higher in July 2007 than they were in July 2003.
4) Along with employment disappearing, so too did health coverage decline early in the Bush administration. So loss of benefits and stagnant wages.
5) Housing market, one of the Bush economy's few bright spots, turned out to be a house of cards.
6) 66 percent of Americans rate the economy as fair or poor.
At the same time:
7) Corporate profits rose from 2003 to 2007.
8) Real income of the 0.1 percent of richest Americans rose 51 percent between 2003 and 2005, with no data available for 2006.
How much more evidence does one need to know that "trickle down" really is "voodoo" economics? Rising tides haven't raised boats for most people. It's drowned a few, in fact.
The "Bush Boom" has ended. Time to pick up the mess.
(facts contained within were pulled from a NY Times op ed this morning)
