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Politics : Formerly About Advanced Micro Devices
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To: Dan3 who wrote (153063)10/10/2002 3:09:49 PM
From: TimF  Read Replies (1) of 1584953
 
The main one was his tax-cuts. Bush's cuts reduced revenue for the government, and transferred most of that money to a small number of taxpayers who were already quite wealthy.

1 - The economic slowdown started before Bush came in to office and way before any tax cuts have taken effect.

2 - Most of the tax cuts esp. most of the tax cuts on the very wealthy are backloaded and have not taken effect yet. In fact a lot of the cuts do not go in to effect for years. So far most of the benefit has not gone to the very rich. It will be true eventually when all the tax cuts are phased in that most of the benefits will go to the rich but since they pay most of the taxes and since they get hit hardest by any increases it makes sense that they should benefit the most by any cuts.

3 - In gneeral when taxes are reduced on the wealthy they are more likely to invest the money in ways that create jobs then the less wealthy but if they do spend it that spending creates demand as much as the spending of the less then wealthy does.

Tim
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