Bush Tax Cuts Won’t Create Jobs

Posted on 07/29/2010 at 2:25 pm by Bob Cesca

Christina Romer explains:

First, extending the high-income tax cuts would provide very little job creation in 2011. There is widespread agreement that the short-run economic benefits of high-income tax cuts are small. The Congressional Budget Office lists a tax cut for high-income earners as a particularly ineffective job creation measure. Private sector forecasters have reached the same judgment. The vast majority of economic research shows that higher-income earners spend less of a tax cut and so tax cuts to those earners create fewer jobs throughout the economy.

They won’t create jobs. They WILL create a larger deficit. And they won’t really stimulate economic growth. So why do the Republicans support the tax cuts for the super rich? I think I just answered my own question.

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  • Andrew Smith

    But if they close their eyes and wish hard enough, then their economic success will trickle right down their legs and nourish the masses, as Colbert demonstrated quite clearly last night.

  • EGB

    Bob, you are forgetting the ‘click your heels’ multiplier effect of those bribes, I mean tax cuts.

  • roxsteady

    Exactly Bob! It’s hard to believe that even the stupiest of teabaggers and those who vote Republican won’t see through this one. And, with the Republicans blocking the jobs bill for small businesses today, I suspect that the GOP has turned off even more people who may have voted for them in the past. I’m hoping that come November the GOP and the beltway wisdom will explode in all of their faces. I hope that Dems and Republicans get out there and crush these bastards not just for our own sake but, to teach our impotent media that just because you keep saying everything is bad for the Dems doesn’t make it so. Chris Matthews in particular really pissed me off yesterday when he stated that the Obama administration lost yesterday when they won the injunction against the papers please law. Fuck you!

  • roxsteady

    Sorry, I meant stupidest!

  • R.L. Harrington

    please add another show, I still have a few extra hours per week that need your type of production.p.s. I am naming my new cat dingledein.

  • http://www.politicalruminations.com/ nicole473

    Well, obvious answer even if it makes little sense. They are so dense and pathetic. *shaking head*

  • EGB

    Rox, did you see Matthews today? He is totally losing it. The Sherrod piece was just insane. Totally unprepared. I was yelling at the teevee yesterday regarding the dems losing because they won the injunction. Um, hey, here’s a friggin idea, how about we do the right thing, and especially take on a state law that is probably unconstitutional, because it is the right thing to do?? Instead we are treated to this law as a football in a who won today game.

  • MrBrink

    Uhhhh.Okay.If top heavy tax cuts created jobs, they must mean in other countries.I wouldn’t brag about Bush’s tax cuts vs. job creation if I were trying to sell ‘concentrated wealth’ to poor people.But I suppose “The working poor” should be grateful for their degraded wages and diminished options because once they get to the top 2% income bracket they’ll be glad the taxes are so low.When you’re starving in a Conservative Republican economy, “take it leave it” qualifies as “job creation.”