The "supply side experiment" turned out to be a colossal failure. For eight years, George W. Bush applied the theory in its purest form: increase tax breaks to the rich, eliminate regulations on Big Oil, insurance companies and Wall Street.Read Creamer's "Why Congress Must End Bush Tax Breaks for the Rich" at the Huffington Post.
The results are there for everyone to see.
The New York Times reported last year that, "For the first time since the Depression, the American economy has added virtually no jobs in the private sector over a 10-year period. The total number of jobs has grown a bit, but that is only because of government hiring."
In fact, since George Bush and the Republicans in Congress passed two massive tax cuts, we have seen a massive, secular decline in the creation of private sector jobs.
Wednesday, July 28, 2010
End tax cuts for the wealthy
The Republican program of tax cuts for the very wealthy has failed utterly, so says Robert Creamer: