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FLASHBACK: Romney Economic Advisers Predicted Bush Tax Cuts Would Lead To Huge Job Growth


US Politics & Gov't  (tags: Romney tax plan, americans, economy, dishonesty, elections, government, lies, propaganda, republicans, politics, news )

Carrie
- 744 days ago - alternet.org
A Center for American Progress Action Fund analysis shows that, far from creating 12 million jobs, Romney's economic plan would kill 360,000 jobs in 2013 alone. But this discrepancy is perhaps less surprising considering that the same advisers ...



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Comments

Jason S. (57)
Saturday August 4, 2012, 8:53 pm
thanks
 

Jae A. (323)
Saturday August 4, 2012, 11:28 pm
ROFLMAO....sure they would seeing as how since they began the job loss in the nation has gone downhill steadily. Really shows how stupid they think the masses are to fall for more of their B.S. on the Bush Tax cuts and how it creates jobs.....along with their guy Mitt setting the bar so high for out sourcing jobs of his company. One thing about those like Romney ...he cuts his taxes by just not paying any. Only jobs it has created thus far as those abroad. GOP..the party of InsaniTea .....
 

Abdessalam Diab (153)
Sunday August 5, 2012, 8:26 am
Can we forget that the crisis started during Bush's second term in the white house and people started loosing not only their jobs but also their homes ?
 

Kit B. (277)
Sunday August 5, 2012, 2:11 pm

I dunno about that, really good research can trace this "crisis" all the way back to Reagan and a path of unrelenting de-regulation. Yes, we have had periods of growth, just not a consistent growth and the workers pay has not kept up with increases of the cost of living in the past 30 years. All of up and down "bubbles" of economic growth and decline were not based on a uniform growth pattern. To date we have followed 4 economic patterns 1) agricultural 2) industrial 3) service and trade 4) credit. How in the hell did anyone think that and economic philosophy based on Credit would do anything but collapse?
 

Maggie S. (40)
Sunday August 5, 2012, 2:23 pm
The Bush Tax Cuts were supposed to create jobs. That was the spin. The spin was also that the rich would create the jobs because they would have lower taxes. Well, they did create jobs, Just ask Romney. ask him homw many jobs he created in China! They laughed all the way through Bush's term!!!!!! The tax cuts gave only slight relief to the middle class but huge relief to the rich. AND they are still doing that. The tax cuts don't amount to much for the rest of us and a lot of the middle class have just said let the whole thing expire. Then we can start over with something else.

Kit is right, though, the deregulation etc. and all the other stuff was a perfect storm. But, those tax cuts were supposed to remedy that. That flawed philosophy did not fly, and neigher will Romney's economic plan. Again, there is a provision to give tax breaks to companies that outsource which would undermind American businesses - the Regressionists have been and continue to do that. And this is the guy who says he did not send jobs overseas. But, what has he told the truth about - anything?
 

Louise D. (38)
Sunday August 5, 2012, 3:29 pm
During the Clinton years, tax increases went along with a booming economy; under Bush, a substantial tax cut failed to achieve even remotely similar growth and government revenue stayed well below the 2000 projections and ended up with the economy going tits up. So Mittens is merely showing that he is indeed a giant Dick, if you look at his head you know that rich are always the most grateful as he brings out his secret weapon - the French tickler so light up a cigarette and call them a cab as he screws everyone else like a drunken prom date.
 

Past Member (0)
Sunday August 5, 2012, 3:45 pm
It has been pretty clear that tax cuts to the rich has only allowed the rich to become richer, the poor become poorer. The only think that the Bush era tax cuts have done is for those who are obscenely rich put more $ in their pocket. This is evident from Mitt's own behaviour during his tenure at Bain where he not only stripped jobs from companies, but also was the pioneer of outsourcing. He can deny all he wants, but considering he was listed as the head of Bain, it doesn't quite wash. Mitt will be the final nail in America's coffin.
 

Lois Jordan (54)
Sunday August 5, 2012, 4:17 pm
And let's not fail to mention those Estate Taxes. I just can't understand those who complain about them--I know they're not leaving more than $5 million upon their death. Also, I've signed petitions stating that they should just let all tax cuts lapse as long as the wealthy are going to continue to get theirs. That payroll tax cut is very troublesome because it's less money feeding into the Social Security Trust Fund--which is NOT broken, thank you very much....but will be if they continue to cut the payroll tax. I say raise the cap to at least a million...why shouldn't the CEO's have to pay a percentage on ALL of their $50 million income? (If all I make is $50,000, I'm paying on all MY income).

Kit's absolutely right, this really began in the Reagan years with "Trickle-Down Economics." But, the gulf between the wealthiest & the rest of us has widened so deeply, that we are now living with "TRICKLE UP" economics. As state, property, & local taxes increase; so does the price of our daily commodities of gasoline, food, electricity, water...not to mention all the money greedily stolen from pensions and retirements accounts. While the Banksters continue to receive No Interest money from The Fed, anyone with a savings acct. is not making any interest off that anymore, either. Don't even get me started on all the bank fees, (I dumped Chase & am now with a local credit union). Sorry for ranting today, guess I've just had it with all the lying liars. If only MainStreamMedia would stop spreading nonsense! Corporatists are destroying what's left of us.

Lastly, to refer to Kit's comment: What industries do we actually have left in the US that physically produce something material you can purchase and use and benefits our lives? By the way, Willard's lying about his time at Bain is a federal offense I'd love to see the media go after.
 

Gloria picchetti (286)
Sunday August 5, 2012, 4:42 pm
The Bush tax cuts have done nothing excep make the wealthier more wealthy.
 

Leslie Gaiter (3)
Sunday August 5, 2012, 5:02 pm
Another president Bush, George H. W. Bush called Trickle Down economics Voodoo Economics. It didn't work for Reagan or Bush 2, yet we are still entertaining this crazy economic ploicy.
 

Marie W. (65)
Sunday August 5, 2012, 8:44 pm
Gotta get what Romney is smokin'
 

Lynn Squance (230)
Sunday August 5, 2012, 11:38 pm
Yeh, right! Big job growth overseas.

I like Nick Hanauer, a billionaire imself, who states that the true job creators are the middle class. When the middle class have coin, they buy things. When sufficient numbers are bought, that forces the producers to ramp up production to meet demand and that means jobs, jobs, jobs. All the Bush Tax Cuts did is create jobs overseas.
 

Georgia L. (210)
Monday August 6, 2012, 12:58 am
The fools are still standing around waiting to be trickled on. Pretty nice of them to be willing to pay more taxes themselves as most will so the rich can have larger breaks. Once they got stuck on stupid I guess there was no turning back.
 

JL A. (275)
Monday August 6, 2012, 9:32 am
and they haven't yet updated their data for seeing what actually happened? so unprofessional and scary that one wonders how they can still be employed
 

Myron Scott (70)
Monday August 6, 2012, 10:27 am
Tee hee.

No surprise though. They ARE the Grand Old Prevaricators.
 

jan b. (3)
Monday August 6, 2012, 11:36 am
LET's REVIEW ---Office of Management and Budget for U.S. President Ronald Reagan as David Stockman quoted as referring to Reagan's tax act was a TROJAN HORSE TO BRING DOWN THE TOP RATE. That's the kind of selling point the GOP today is using. (TRICKLE DOWN NEVER WORKED)
Reagan cut taxes on millionaires and billionaires from over seventy percent to around thirty percent and more than tripled the federal debt from under a trillion - where it had been in real dollars for about two hundred years - to nearly three trillion dollars.
Clinton raised taxes on the rich, without a single republican vote, and both balanced the budget and produced the first surplus in years.
Bush came into office with Clinton's surplus, immediately cut taxes back to and drove a five trillion dollar deficit to over ten trillion. Never ever in history has this magical thinking embraced by Kent Conrad conservaDems and republicans been shown to actually work

 

Kit B. (277)
Monday August 6, 2012, 1:42 pm

Who is Janice B that has no profile? Why no profile?
 

Jane H. (133)
Monday August 6, 2012, 2:01 pm
Thanks, Carrie----if Romney get elected it'll just be 4 years of Bush all over again.
VOTE DEMOCRAT, everybody!
 

Jill P. (70)
Monday August 6, 2012, 2:20 pm
We are not entertaining the idea of trickle down economics we have been living it since Reagan. Every Democrat and Republican has continued it through the years. The bush tax cuts are supported by the republicans and Democrats. Remember, they are the rich who would pay taxes. obama votes "Yes" to extend the Bush tax cuts while in the Senate and has signed off on it every single year. He is just talking big during his campaign so the liberals and progressives will vote for a conservative corporate hack like himself...again.
 

Dave C. (213)
Monday August 6, 2012, 3:09 pm
trickle down (or other known as "help the rich stay richer") didn't work in the 20s and hasn't worked since the 1980s...need to invest and not just hold onto money.....
 

Nelson Baker (0)
Monday August 6, 2012, 4:18 pm
If tax cuts for the rich creates jobs, where are all the jobs they should have created over the last 12 years? They use the money gained from those tax cuts to build 100 million dollar homes and football field size yachts and to increase their personal wealth. They do not use it to create jobs. A few years ago there were 15 billionaires in the US, now there is over 400 billionaires in the US.
 

Myron Scott (70)
Monday August 6, 2012, 4:26 pm
Well, profile or not, janice is not all wrong. Too many Democrats have been and in some cases still are too afraid of appearing pro-tax and, so, end up supporting tax policies that stick it to the middle and working classes. Until recently, Obama was not a notable exception. Nonetheless, Kit, you are right to insist that the gap between Obama and Romney is huge. A vote for Obama remains the best hope we have.
 

Lloyd H. (46)
Tuesday August 7, 2012, 8:00 am
"Piss Down Economics" has been a dismal failure since the Repugs began selling the Snake Oil after the Eisenhower Administration in the 1950s. Every single time, and I do mean every time, Voodoo-Trickle Down-Piss on the Poor Economics has been put into action JOBS GO AWAY period. Feeding the Rich never does anything but feed the rich and starve every one else and the economy.
 

Christy V. (36)
Tuesday August 7, 2012, 10:32 am
When corporate taxes went down, the result was easy to see if you know economics 101 and some tax law. When a corporation is taxed high enough it's cheaper to pay to improve your real assets (capital improvements i.e. machinery, brick & mortar buildings) than pay dividends which don't give you a higher cost. A corporation or business won't pay the higher taxes as they invest the money on the company not buying their own stock or paying higher dividends. When you lower the tax rate where it isn't cost benefit to invest in your business then you lose the incentive to create jobs 2nd hand by buying machinery or first hand by investing in more labor.
 

Jae A. (323)
Tuesday August 7, 2012, 1:26 pm
Here is what the wealthy are doing with their money.....intead of creating jobs with it :

Wealthy Stash $21 Trillion in 'Pirate' Banks
http://www.care2.com/news/member/228509130/3426824
 

Jane H. (133)
Monday August 13, 2012, 2:06 pm
It has now been shown--over and over that trickle-down does not work!!
 
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