Are Bush Tax Cuts Working?

http://www.cbsnews.com/stories/2005/05/07/ap/business/mainD89U8KIG0.shtml



I saw on the news that the U.S economy created 274,000 jobs last month.

Is this a sign that the U.S economy is improving and Bush's tax cuts are working?

 

Hello. Have you heard about the deficit?

 

Not really...

The economy has its ups and downs. I doubt Bush's tax cuts have significantly impacted it either way. Since he didn't reduce government spending, all he really did is give taxpayers an interest-free loan from the government.

 

What kinds of jobs? High tech, well paying sorts of things? Or lots of McDonalds jobs where former office workers are piecing together several low paying part time jobs to make up for their one well paying one? All this is, is deciet by numbers. Yeah, he can say he created thousands of jobs, but the point remains that they are not good jobs.

 

Here's a breakdown from the CBS link:

" Payroll gains were widespread. Retailers, bars and restaurants, health care providers, construction companies and financial services all showed employment rising. Factories, however, lost jobs for the second straight month. Clothing, automobile, food and furniture makers were among the manufacturers where employment declined.

"Manufacturing sectors shedding jobs are those still facing stiff import competition, particularly from Asia," where currencies are kept artificially low against the U.S. dollar, putting U.S. manufacturers at a big competitive disadvantage, said David Huether, chief economist at the National Association of Manufacturers. High energy costs also are putting a strain on manufacturers, he said.

Still, April's growth in overall hiring suggests companies are optimistic about the economy's prospects despite expensive energy bills, analysts said. The 274,000 net number of jobs added last month was roughly 100,000 more than economists had expected."

 

They're working, alright.

 

These job numbers are often totally inaccurate, and many of the jobs gained are basically low-paying mcjobs, which are often filled by low-paid immigrants and high school kids.

I really don't think these numbers should be taken as a sign of anything.

 

What have you read or heard about this current job growth thats related to what you say? So far I haven't seen any articles mentioning that these jobs are being filled largely by low-paid immigrants and high school kids.

 

But it was a war of choice, not a war of necessity. Therefore it is appropriate to blame the big spenders for the big deficit.

At the time I'm writing this, your share of the national debt is $26,188.42. Try running up a credit card bill that high, then tell me it isn't a big deal. No, the country isn't going to plunge into bankruptcy in the near future, but as the debt continues to increase under a power-hungry Congress, the interest payments will take up a larger and larger portion of the federal budget.

 

Tax cuts are a great thing, but I definitly think that 1. more of it should've went to the working class, and 2. Federal spending really needs to be controled. As for the tax cuts Bush gave, eh, they made the defecit bigger and made a bunch of people happy.

 

Am I the only one who realizes that basic economics tells you that you shouldn't spend more than you take in?

 

Hey buddy, go look at that chart for the deficit, look during the Vietnam era. Then tell me about war-time debt. Because I don't see much debt in that time at all, nothing compared to now.

 

Now that that's no longer an issue, one would expect the government to PAY DOWN the national debt, not acquire more and more debt faster and faster.

 

cant cut taxes and spend like a liberal at the same time....it just doesnt work, hence the huge deficits

 

If it wasn't the tax cuts, then what do you think contributed to these 274,000 new jobs in April?

 

Well I have to say that the tax cuts aren't a problem. If we weren't doing insane unnecessary things *coughIraqcough* then we'd be better off. Instead we waste money while expecting that paying less will halp every one out... insane.

 

you think bush cares about the economy? While more and more jobs are going overseas? While the prison industry grows and grows? While our military budget skyrockets, and continues to increase in billions of dollars?
The only people who enjoyed Bush's tax cuts were the ignorant poor and the rich.
And they dont "WORK"... HELLO, IDIOTS... Reaganomics didnt work when reagan tried it, and it hasnt worked for bush... Every freaking economic study sense reagan shows that trickle down economics DOESNT WORK... No matter how much these brainwashed idiots try to tell us it has worked, IT DOESNT, and it never will... OMFG 300k NEW JOBS!!! Must be the trickel down economics... get real, the economy sucks balls.
In fact, these people KNOW DAMN WELL that it doesnt work... they are doing it for one thing and one thing only .... Money.

It's not hard to see that the tax cuts were specifically intended for the rich... with the way the distribution was, it is no fucking wonder... bush is purposely increasing the gap between the rich and the poor... it'll continue growing and growing until it pops.. and as one poor person speaking, it makes me irrate... and i feel like throwing molotov cocktails at donald trump... putting me RIGHT INTO george bush's evil gameplan... maybe give him a reason to tap my phone, or label me a terrorist so he can murder me along with the rest.

You bastards that voted for bush for the tax cuts cant see past your thick wallet... what a great trade off... we can get tax cuts that make us more wealthy (us being the already wealthy), all we have to do is support an illogical war that murders hundreds of thousands of people including women and children... SOUNDS GOOD TO ME! Where do i sign up?
*vomits on you*

If you give rich people more money, they will NOT spend it on increasing conditions for their workers or giving them mor ejobs... this is common sense... they will either save it or invest it in stocks or bonds.
making the rich richer does NOT help the economy.. this was shown during the REAGAN era... yet bush idiots today still claim it does help.. the only way to really help the economy is to help the poor start small businesses through programs and things...

giving the rich more money and expecting them to do the right thing with it is like giving kurt cobain money and expecting him not to spend it on heroin/crack/a shotgun

 

Probably random market fluctuations. You can't gauge the success or failure of an economic policy over the span of a single year, let alone a single month.

 

Not to mention the simple fact that the only significant sector of job growth is in low paid part-time service industry jobs. Not the sort of jobs for which families shell out a hundred thousand dollars or more to give their children a 4 year degree (those families which can even afford to pay it all themselves).

The coming generation of workers is having their future prospects mortgaged right out from under them along with the many white collar workers who have been shafted so that the corps can horde ever more of the profit or find less socially/environmentally regulated markets in China and South East Asia to exploit.

The apparently unimportant question for those gullible number junkies like Motion, who see the "official" figure and think it signals any sign of prosperity for American families, is that of "quality". Try supporting a family, a mortgage and all other necessities of our once hallowed "middle class" lifestyle on 2-3 part time jobs (with rampant abuse of work conditions, lack of pensions, and all the other accoutrements a degree holder once held a good chance of finding). The gap between rich and poor is indeed widening and most of the new poor are arriving on the downsize/outsource express.

 

If we were able to tax ourselves to prosperity, then Argentina would be a world powerhouse.

We need less goverment all over. Anyone on this site should understand the oppressive power of big goverment.
I would love to see big tax cuts strangle the budget for The DEA, The Pentagon, The BATF, Dept. of Agriculture, Dept. of Energy, Dept of Education.The Army Corps of Engineers. These parasite are sucking the life out of our nation and interfering in our lives.