Lots of linked studies in this article to say No Change of behavior in how coporations invest, and individual "households shifted their investments from those whose return was taxed as ordinary income into dividend-paying stocks whose income was taxed less".
But Barlett said no reputable conservative economist willing to vouch for Bush tax cut nowadays, then in the next sentence used Harvard economist Dale Jorgenson (a 'global warmist' and advocates carbon tax) as his example, is kinda weak.
(Excerpt) "He (Jorgenson) was also an advocate for a carbon tax on greenhouse gas emissions as a means of reducing global warming when he testified before congress in 1997. His research has also been used to advocate for the FairTax, a tax reform proposal in the United States to replace all federal payroll and income taxes (both corporate and personal) with a national retail sales tax and monthly tax rebate to households of citizens and legal resident aliens. However, Jorgenson supports a tax plan of his own design, which he calls Efficient Taxation of Income, described in his book Investment, Vol. 3: Lifting the Burden: Tax Reform, the Cost of Capital, and U.S. Economic Growth.[1] The approach would introduce different tax rates for property-type income and earned income from work.[2]" (Wiki entry)
Bush inherited a Clinton recession, and he and the tax cuts brought us out of that recession quickly. the current depression did not start until Nancy Pelosi took over congress 2 years before Bush’s term ended.
Bruce is consumed with personal (and I emphasize -personal- ) hatred for Bush and all Republicans or conservatives. You have no idea of the bitterness this former Reagan- and Bush 1 administration official feels; he’s all button-hurt because his prior sullen, depressive, hostile behavior and snobbery caused the Bush 2 people to not take him on in 2000. This colors his perceptions. It also makes him very lonely, which exacerbates his problems and perceptions. A vicious circle. Take what he writes with a handful of salt.
The economy was in great shape from 2003-2008. The recession, 9/11, then the corporate meltdowns (Enron, etc) were great blows to the economy. Then it turned around, with great help from the tax cuts (and the wars, which always help an economy). Real unemployment was at about 4.5-5%.
Then the democrats took over the congress and passed a minimum wage hike and unemployment started to rise, then the CAFE standard was raised, which increased fuel and shipping cost, and thus, price increases and inflation. And they passed some other stupid laws that they’d been dying to pass since they lost control of the House in ‘94. By early 2008, we were entering a recession again, then we had the intentional, coordinated, perfectly timed banking meltdown.
Democrats hate any tax cut and will not grant it credit for anything.
2003 Federal Tax Revenues = $1.75 Trillion.
2007 Federal Tax Revenues = $2.5 Trillion.
There were no Bush Tax Cuts, there were Bush Tax RATE Cuts.
Economic Impact of 9/11 Terrorist Attacks were estimated to be over One Trillion Dollars. At the time it was thought that the Economy would not recover for at least ten years.