The Electric Commentary

Saturday, January 26, 2008

George W. Bush, Tax Raiser

It is gospel among conservatives that "the Bush tax cuts stimulated the economy." The problem is that the President has actually raised our taxes quite a bit. Here's Russ Roberts at Cafe Hayek:

Government's share of the pie has grown dramatically under Bush II. You can argue it was worthwhile. You can argue that he had no choice. (I think you'd be wrong on both counts, but never mind.) But you can't argue that Bush has cut our taxes. Our taxes are higher and they've been shifted into the future via debt.

Notice also that government's share fell during the Clinton years. Yes, I know that's partly because of the Republican Congress. Partly. But it reinforces my view that partisanship is overrated.

George Bush likes to say that he gave us back "our" money because we could spend it more wisely. While I agree with the premise, it was an illusion. There weren't any tax cuts in 2001, 2002 and 2003 that supposedly stimulated the economy or that let us spend the money more wisely than the government. The government spent more of our money, not less.




Roberts has numbers to back up his claim.

1 Comments:

  • I've been saying that for quite a while. My family's federal taxes have gone up about $400+ dollars a year after Bush got his "tax cuts" pushed through. And yet, he still is running a record setting deficit. I feel sorry for the person who takes over and has to pay his bills. They will be labelled as a taxoholic and the entire cycle will begin again.

    By Anonymous capper, at 2:03 PM  

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