The Bush tax cuts are set to expire in December after the election. The GOP is trying to present the expiration of the Bush tax cuts 'as the biggest tax increase in American history.'
This is what George W,. Bush said when he cut taxes for the most affluent Americans:
President Bush said . . .that the most important number in the budget he sends to Congress next week is the $5.6 trillion surplus it projects over the next 10 years. The reality is that Bush doubled the deficit while he was president.
"A surplus in tax revenue, after all, means that taxpayers have been overcharged," the president said.
Democrats cautioned that surpluses projected over so long a period can turn into elusive fool's gold. And they continued to insist that as it stands the Bush tax-cut plan unfairly favors the wealthy over those of more modest means. The Democrats were right.
Mr. Bush said his budget plan proposes a "reasonable" 4 percent growth rate, which he said is "little more than inflation."
He pledged that his spending plans will not neglect the national debt, now totaling about $5.7 trillion.
"After paying the bills, my plan reduces the national debt, and fast," Mr. Bush said. "So fast, in fact, that economists worry that we're going to run out of debt to retire. That would be a good worry to have." The reality is that Bush increased the national debt by $4 trillion, the biggest increase in US history.
The Bush administration was never big on job creation either, preferring to discuss worker productivity. To see the Bush job creation record, check the chart below:
source: http://www.cbsnews.com/8301-500803_162-4486228-500803.html
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