View Full Version : Costs Of Bush's Tax Cuts, 3.9 TRILLION

Gayle in MD
10-07-2010, 09:31 AM
In a New York Times op-ed, David Stockman,former director of the Office of Management and Budget under President Ronald Reagan, gives a scathing appraisal of Republican economic policies. He bluntly says, “If there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cutswould amount to a bankruptcy filing.” Mr. Stockman’s view is supported by fellow Republican and former Fed Chairman Alan Greenspan. In an interview on “Meet the Press,” when asked about the Republican claim that tax cuts pay for themselves, he answered flatly, “They do not.”Mr. Greenspan is referring to their inability to generate revenue and jobs. This is evidenced by results of the Bush tax cuts for the wealthy, which will cost taxpayers about 3.9 trillion dollars in lost revenue when they expire this year. Despite opinions of economists against tax cuts from both parties, GOP leadership continues to tout benefits of tax cuts to the wealthy.

The Real Story Of How We Got Into This Mess!

http://www.nytimes.com/2010/08/01/opinion/01stockman.html?pagewanted=2&_r=1&sq=david stockman&st=cse&scp=1