Quote:
Originally Posted by Flames Fan, Ph.D.
For the life of me I don't know where you get your stuff. If you don't want to go to the government websites, you can even wikipedia this stuff. Bush cut taxes in 2001 and then accelerated those tax cuts via 2003 legislation. Tax revenue as a percentage of GDP fell from 2001 until 2004, recovered until 2007 then back down in 2008.
Net net, over this term, tax revenue as percentage of GDP fell. This is true if you consider 2001 his starting point, or even if you consider 2002 the starting point. And this is gratuitous because I'm using the end of 2008 as his endpoint.
Seriously man.
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And if you want to strictly look at the supposed growth in the economy during that time, much of it was attributed to the financial sector generating record profits year after year.
And we all know how that ended up.
IIRC, the strongest year the economy had during the Bush era, 40% of all the profit generated in the US came from the financial sector.