George W. Bush's idea to ease the tax cut debate in D.C.: Stop calling them mine

Former President George W. Bush has some advice for those so heatedly debating the Bush tax cuts in and around Congress these days:

Stop calling them the Bush tax cuts.

Bush, who's promoting his best-selling memoirs, "Decision Points," is still refusing to criticize or second-guess his successor, who hasn't felt the same compulsion about his predecessor.

From Texas, Bush told the noted conservative radio talkshow host Scott Hennen (listen to audio recording below) that he thought there'd be less rancor in D.C. if the controversial tax cuts hadn't been labeled as belonging to him.

"Well, I wish they woulda called it something other than the Bush tax cuts," Bush said, "and therefore would have been less angst amongst some to pass it. But I do believe it’s very important to send the signal to our entrepreneurs and our families that the government trusts them to spend their own money.

"And I happen to believe lower taxes is what stimulates economic growth and what we need now in our country is economic growth."

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-- Andrew Malcolm

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H/T Rob Port

Comments

[His Stench Lingers On]

In eight long years, the only idea that Bush had was to send our children to die in Iraq.

[Celia]

President George Bush has too much class and respect for the office of the President to mud wrestle with Obama.

He is right, look at Boxer now how she is explaining away for how she is now voting for it.... lol

[hsr0601]

** The reps' Economic Plan = Going Back to Failed Bush Economic Policy

Back when Bush was pushing his tax cut packages through Congress in 2001 and 2003, supporters said the cuts (which weren't balanced with spending reductions) would initiate an era in which the American economy would grow so robustly the nation would be running a surplus of more than $5 trillion at the scheduled expiration date. U.S. now is facing a $14 trillion deficit.

In sharp contrast, Former President Bill Clinton left a record surplus, despite the warning of potential economic disaster over tax increase for the wealthiest.

** Investment in Education, Energy, & Infrastructure.

Let’s be clear. These tax cuts will do little or nothing to stimulate the economy despite the hollow claims of Congressional Republicans and conservative pundits. According to a Moody’s report, making the Bush tax cuts permanent will lead to 30 to 35 cents of economic stimulus for every $1 U.S. give up in federal revenue. That’s a very poor investment. By comparison, revitalizing the nation’s infrastructure or extending unemployment benefits will lead to roughly $1.60 in economic stimulus for each $1 U.S. spend.
　
Sanders' amendment calls for stripping out the tax breaks for the wealthiest 2 percent. That money would have instead been spent on deficit reduction and infrastructure needs.

These enormous tax cuts have led to record federal deficits, contributed to the government's current financial woes, and have not helped many Americans who face the greatest financial burdens," Leahy said,
"Assurances at the time to the contrary, the Bush tax cuts failed to ‘trickle down' to help those Americans most in need, while the wealthiest 2 percent of Americans benefited substantially."