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Making a rare post-presidential policy address, former President George W. Bush said he wishes the " Bush tax cuts" had someone else's name attached to them because "if they were called somebody else's tax cuts they'd probably be less likely to be raised."
But Bush had a pointed message about tax policy: "If you raise taxes on the so-called rich," he said, "you're really raising taxes on the job creators."
The Bush tax cuts refers to changes to the United States tax code passed during the presidency of George W. Bush that generally lowered tax rates and revised the code specifying taxation in the United States. These were the:
Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA)
Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA)
While each act has its own legislative history and effect on the tax code, the JGTRRA amplified and accelerated aspects of the EGTRRA. Moreover, since 2003 the two acts have often been spoken of together, especially in terms of analyzing their effect on the U.S. economy and population and in discussing their political ramifications.
Bush Tax Cuts
Originally posted by xuenchen
I always thought Bush had a tough enough time with 9/11 and the fact that the Fed lowered interest rates immediately after 9/11. Big economic devastation.
The low interest rates made the housing bubble bust because now we had people qualifying for higher loans when that was impossible before when rates were higher, thus causing rapid increases in prices. Housing prices are often based on what people can afford to pay. If people can't qualify for loans, the prices go down and only stabilize when people can get loans.
Unemployment actually went down under Bush after the tax cuts started until the worldwide muney mungers killed the derivative markets and killed the banks (probably not Bush's fault) unemployment chart 2002 thru 2012
The tax cuts may have helped lessen the impact of the financial "crisis".
The tax cuts were actually two legislations (2001 and 2003)
The Bush tax cuts refers to changes to the United States tax code passed during the presidency of George W. Bush that generally lowered tax rates and revised the code specifying taxation in the United States. These were the:
Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA)
Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA)
While each act has its own legislative history and effect on the tax code, the JGTRRA amplified and accelerated aspects of the EGTRRA. Moreover, since 2003 the two acts have often been spoken of together, especially in terms of analyzing their effect on the U.S. economy and population and in discussing their political ramifications.
Bush Tax Cuts
I personally think Obama had a tougher time inheriting an economy that was losing 750,000 jobs a months or a DOW that was 7,000
Originally posted by David9176
GWB was the greatest president in United States History.
Originally posted by David9176
reply to post by braindeadconservatives
I personally think Obama had a tougher time inheriting an economy that was losing 750,000 jobs a months or a DOW that was 7,000
He lessened the impact though man!!!!
GWB was the greatest president in United States History.