If the theory, heavily subsidized by the comfortable, that there is some sort of automatic relationship between cutting the taxes of the comfortale and shifting those taxes to the afflicted and a rise in job creation. where are those jobs??? Before social conservatives elected Ronaldus Maximus, there was a 70% rate in taxes on the most comfortable levels of income. Ronaldus Maximus slashed those taxes to the more recent (pre-Dubya) 39.5%. Dubya reduced that rate further to 35%. Where are the jobs???? Maybe the tax cut money went into tax-free municipal bonds representing lavish and unnecessary spending to insure that the comfortahle not have to, well, pay taxes on the income therefrom. As Leona Helmsley famously said to her accountant before her stay in the federal hoosegow, "Taxes??? Those are paid only by the little people!!!"
When the bonds are bought, the money generated from Mr./Ms. Gotbucks is divided between graft for the compliant politicos, sugar for the Davis-Bacon protected unions, and more largely unnecessary and inefficiently costly gummint expenditures.
The yacht industry never had thousands of jobs to lose. How WOULD America survive without its yacht "industry?" A lot easier than it is surviving without its steel industry, its auto industry, its defense industry and a raft of other once American industries outsourced to Bangladesh to improve the "bottom line" of the comforted comfortable and to deconstruct the American economy to provide the entire profit to the comforted comfortable. Ask yourself whether even your boy Hamilton would agree.
Other uses of tax cut money: ever more costly jewels and baubles for the trophy bride or paramour, vacations in NeverMeverLand (quite devoid of American workers), purchasing long completed art works, coin colletions, stamp collections, and other collectors' items, being a big shot at multiple annual charity balls (thereby providing the money necessary for the charity execs to fight [whatever cause] in true style and receive an income to put those execs in the top tax bracket without visible results for the objects of the "charity,") all tax exempt according to the near religious demands of the comfortable.
Even Ronaldus Maximus was not perfect but he came closer than any POTUS since Old Hickory.
What percentage of soldiers, sailors, marines, airmen, police, tow truck drivers, nursing home workers, hospital workers, factory workers, mechanics arise from that 50% who pay no income taxes? What percentage from those who wallow in comfort?
You leave out the fact that there was essentially NO UNEMPLOYMENT when W was in charge.
Though I am sure you won’t learn from it I will try and demonstrate some reality.
1)Municipal bonds are NOT exempt from federal taxes only possibly state.
2)The economic boom of the 90s was begun by Reagan’s tax cuts. They created plenty of jobs just as Harding’s cuts did in the 20s and Kennedy’s in the 60s.
3) Bush’s cuts were somewhat undermined by the body blow the economy received because of 911 and the market collapse following. But they eventually took hold and created plenty of jobs. However, since these cuts were not permanent cuts but were designed to expire they also did not produce the maximum impact.
4) More than tax cuts are necessary and they were not forthcoming. More regulations were enacted not fewer and the Democrats would not allow the housing giveaways to be reined in even though McCain and other Republicans were calling for them.
5) Though I’m sure Leona Helmsley political economic pronouncements are sufficient for you they are false. HALF of the “Little People” pay NO federal income taxes. Bush’s tax cuts removed millions from the requirement to pay fed taxes. The majority of taxes are paid by a small percentage of the population and even more are paid when rates are low as federal revenues clearly showed after Reagan’s cuts.
6) American skilled labor manned the Yacht factories and they were severally impacted by the Class Warfare of the “yacht tax” which ended up only destroying the industry and its jobs rather than raising revenue. But those of you supporting such anti-Reagan taxes were happy just to see the RICH take it up the butt weren’t you? I’m sure the people who made their motors and supplied the materials to build a boat agree.
7) Bush’s tax cuts affected the sailors, soldiers, widows and orphans by REMOVING almost all of them from the tax rolls. You really should do some research before peddling the Leftist Class WArfare line among those who know better.