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What was the effect of the Bush tax cuts that Cheney is bragging about passing with HIS single tie breaking vote?

After a tied 50-50 vote, Vice-President Dick Cheney cast the deciding aye to move the Bush The Rise, Fall & Future of Conservatism, which aired on Fox News this weekend, Cheney brags about how his vote was the culmination of a 30 year push to put supply-side economic theory into practice:

I became a believer. If you fast-forward, in 2003, where we cut the capital gains rate, the rate on interest, did the across-the-board cuts in the income tax, and passed by a single vote. My vote

First, following the Bush tax cuts, the country “registered the weakest jobs and income growth in the post-war period”:

Overall monthly job growth was the worst of any cycle since at least February 1945, and household income growth was negative for the first cycle since tracking began in 1967. Women reversed employment gains of previous cycles. And for African Americans, the worst job growth on record was matched by an unprecedented increase in poverty


 
sweet-a-kins

Asked by sweet-a-kins at 8:26 PM on Nov. 29, 2010 in Politics & Current Events

Level 34 (67,502 Credits)
This question is closed.
Answers (21)
  • Only Dick would be so proud of being such a . . . dick.


    Yep, I said it.

    jsbenkert

    Answer by jsbenkert at 10:44 PM on Nov. 29, 2010

  • I love how my obscenity filter identifies Cheney's first name, Dick, as an obscenity ... how appropriate.
    Gal51

    Answer by Gal51 at 8:41 PM on Nov. 29, 2010

  • It is clear that you can't start a war and cut taxes at the same time.  A war which they chose to start, that was not a necessity.  That was the first time in history we went to war without a tax to pay for it.  He did both waged war and cut taxes, both something they created.  It's obvious to everyone why we are in such debt.

    mommom2000

    Answer by mommom2000 at 10:34 PM on Nov. 29, 2010

  • Yeah let's talk Katrina. Such a lovely thought, how Bush and Cheney treated the people down in NO. Something to be so proud of.
    Not to mention going to war, no WOMD and allowing terrorists to attack on our soil.

    So proud.
    Anonymous

    Answer by Anonymous at 10:55 PM on Nov. 29, 2010

  • Who did create the wars, Crapy? WHo decided that there were WMD's in Iraq and sent thousands of our fine young men and women over there to be wounded or killed ...for no good reason? WHO?
    WE all know....why don't you know?
    kerp1960

    Answer by kerp1960 at 10:28 PM on Nov. 29, 2010

  • I'm in the process of reading Bush's book on Kindle- Even Bush alludes to Cheney's undermining and at at times controlling, inappropriate behavior and decision making skills. Cheney was (and may still be) a hot- headed ready-shoot-aim individual.

    Sisteract

    Answer by Sisteract at 10:48 PM on Nov. 29, 2010

  • Who did create the wars, Crapy? WHo decided that there were WMD's in Iraq and sent thousands of our fine young men and women over there to be wounded or killed ...for no good reason? WHO?
    WE all know....why don't you know?

    Careful gerpieluanon, your lack of education is showing. I have been over what you should research a million times, but you refuse to even acknowledge it, so just stay stupid.
    Carpy

    Answer by Carpy at 11:33 PM on Nov. 29, 2010

  • Yearly ave enemployment
    Clinton years
    1993 6.9%
    1994 6.3
    1995 5.6
    1996 5.4
    1997 4.9
    1998 4.5
    1999 4.2
    2000 4.0
    Bush years
    2001 4.7%
    2002 5.8
    2003 6.0
    2003 tax cuts
    2004 5.4
    2005 5.1
    2006 4.6
    2007 4.6
    2008 5.8
    Obama years
    2009 9.3
    2010 9.6
    Natesmom507

    Answer by Natesmom507 at 2:04 AM on Nov. 30, 2010

  • Under President Clinton, job creation, GDP growth, wage growth, and business investment were all stronger than they were under Bush. In fact, the only economic indicators that went up under Bush were deficits and the poverty rate. But Cheney is still crowing, as the country tries to crawl out from the economic catastrophe that occurred on his watch.

    sweet-a-kins

    Comment by sweet-a-kins (original poster) at 8:26 PM on Nov. 29, 2010

  • Yesterday, David Stockman, budget director under President Reagan, blasted the Republican party for creating a “theology” regarding tax cuts. “After 1985, the Republican Party adopted the idea that tax cuts can solve the whole problem, and that therefore in the future, deficits didn’t matter and tax cuts would be the solution of first, second, and third resort,” Stockman said. Indeed, it was Cheney himself who allegedly claimed that “deficits don’t matter.”


    So WHY are THEY pushing to keep them??

    sweet-a-kins

    Comment by sweet-a-kins (original poster) at 8:27 PM on Nov. 29, 2010