Bush's problem with 'tax cuts
December 14th, 2010
03:49 PM ET
3 years ago

Bush's problem with 'tax cuts

(CNN) - While members of Congress are embroiled in an intense debate over whether or not to extend the Bush-era tax cuts, the president who ushered in the original passage of the legislation has a suggestion to expedite the process– lose the name.

"Well I wish they'd have called it something other than the 'Bush' tax cuts," Bush said during an interview on conservative radio host Scott Hennen' s radio show on Monday."And therefore there'd probably be less angst amongst some to pass it."

Bush added that he thought that lowering taxes is a key to growing the economy.

"But I do believe it's very important to send a signal to our entrepreneurs and our families that the government trusts them to spend their own money." Bush said. "And I happen to believe lower taxes is what stimulates economic growth and what we need now in the country is economic growth."

Lawmakers are expected to pass an extension of the tax cuts, which would expire at the end of the year, at the urging of the Obama administration. The move would occur against opposition from some Democratic lawmakers who have criticized a deal with Republicans which would include a two-year extension of lower Bush-era tax rates for everyone, including millionaires. Democrats support the stance Obama has championed for years: extending the current lower tax rates only for those earning up to $200,000 a year, or families earning $250,000, while letting rates for higher incomes return to 1990s levels.


Filed under: President Bush • Taxes
soundoff (43 Responses)
  1. Aaron

    In other news, the former President is just as dishonest or wrong-headed (take your pick) as ever.

    December 14, 2010 04:29 pm at 4:29 pm |
  2. dave

    and that is why this moron was voted out of office...because 10 years of his effing tax cuts for millionaires has brought is the economic destruction we see...Thanks for staying out of the way, Georgie Boy...go back under your rock ans shut up

    December 14, 2010 04:30 pm at 4:30 pm |
  3. Jersey George

    Bush is a moron! It was he who signed off on both tax cuts into law! If the current tax cut proposals are extended then they become Obama's tax cuts. Just like the 2 illegal occupations and wars in Iraq and Afghanistan are Obama's wars.

    December 14, 2010 04:31 pm at 4:31 pm |
  4. Dominican mama 4 Obama

    I'm sure that President Obama wishes that they wouldn't call Health Care Reform Obamacare, so suck it up Bushie.
    Let me point out however that his piece of legislation will not only pass the SC test (if it gets to that), but it won't LAPSE in 2 years. Quite the contrary, Health Care Reform with it's various components will only pick up momentum as time passes, benefitting ALL.

    December 14, 2010 04:32 pm at 4:32 pm |
  5. Hot Dog

    What's the difference they refer the recently health care bill that was passed as Obama care. Besides no one has suggested repealing the prescription drug bill that was passed by the Bush administration. No one never mentions how this bill adds to our national debt and how it we are paying for it. It's really amazing how quickly people forget.

    December 14, 2010 04:32 pm at 4:32 pm |
  6. Legalmvp

    The problem with the tax cuts for the rich (I.E. Voodoo economics or trickle down econ or Reaganomics) is that it DOESN'T WORK. It has never worked. We have history, stats, reports, studies, and everything else telling us without any doubt that trickle down economics doesn't work. I understand that the GOP work for the rich and they think its wrong to tax the rich a little more, but that is mere opinion and NOT POLICY.

    If giving tax cuts to the top 2% actually made the rest of our citizens better off in the long run, then I would be all for it. However, that is not the case and the GOP knows it. They just want tax cuts for the rich because they just FEEL that rich people shouldn't be taxed more. BTW going from 36 to 39% is not that big of a deal people.

    It has nothing to do with Bush personally, but the fact remains that giving tax cuts to the uber rich DOES NOT CREATE JOBS NOR DOES IT PRODUCE A PROSPEROUS ECONOMY. So why do it? Just to add billions to the debt?

    I also find it disturbing that Bohner said this tax cut will create jobs. WTF?!! Bush's tax cuts have been in place for almost a decade non-stop and it created NOTHING but the worst recession since the depression, so how the heck can it be that doing the same exact thing will produce a different result? IT WON'T. If that was the case Mr. Bohner, then wouldn't we already have tremendous job growth? I mean the tax cuts you are talking about have been in place for 10 years already, so why haven't they create jobs?

    Einstein said "Doing the same thing over and over and expecting a different result is the definition of insanity."

    Tax Cuts for the rich is doing the same thing we have done the last 10 years and magically, it's going to start to work this time? INSANE!

    December 14, 2010 04:35 pm at 4:35 pm |
  7. David Speranza

    Hey Bush, you created this tax cuts 8 years ago and the economy went down in the toilet. what's up? I voted for Obama but I'm not happy that he decided to support bush tax cuts.

    December 14, 2010 04:37 pm at 4:37 pm |
  8. Four and The Door

    dave
    and that is why this moron was voted out of office...
    _____________________________________________
    Term limits took GWB out of office, not voters. Something Obama will never have to worry about.

    December 14, 2010 04:41 pm at 4:41 pm |
  9. Mark

    Well it just aint so. During the Clinton Administration 22.7 million jobs were created, and taxes were high. During the Bush administration 1.1 million jobs were created, and taxes were lower, so the contention that the tax cuts grow the economy and creates jobs is an out and out lie.

    December 14, 2010 04:42 pm at 4:42 pm |
  10. resolaru

    Democrats Class Warfare – Destroying the economy and country

    Yes, please call this EXACTLY what it is! It is the "DemocRATS COWARDLY DELAY RAISING YOUR TAXES TO PAY FOR THEIR ENDLESS ENTITLEMENTS Bill"

    ________________________________________

    for a moment there i thought you were going to write "THEIR ENDLESS WAR". BUT THAT WAS THE REPUBLICANS. BUT THAT WAS OK EVEN THOUGH WE CANT PAY FOR THAT EITHER. SEE, I CAN WRITE IN CAPS TO GET MY POINT ACROSS TOOOOOOOOOOOOOOOO. NOW GET BACK TO WORK, YOU ARE ON HERE TOO MUCH WITH THIS STUFF.

    December 14, 2010 04:43 pm at 4:43 pm |
  11. Marie MD

    the shrub . . . . . the worst president EVER!!!!! He tanked the country and all he misses is being president. Just like a little kid who is the bully at school.
    BTW – enough of that picture and story of the ex mayor of wasilla about being hacked. Every time I look at it I think she is really saying she is a hag!

    December 14, 2010 04:47 pm at 4:47 pm |
  12. SammyD

    Bush tax cuts were put into place after 9/11 to help the economy stay a float and thank god it did. Rich people do create jobs and spend money on house cleaners, landscaping, pool services, dining out, vacations, etc. So why would we raise their taxes right now? How does that make sense??? Cut the spending THAT IS WHAT IS CAUSING THE defecit, along with the housing market bottoming out, banks going under, etc, etc, Car bailout, stimulus...

    December 14, 2010 04:48 pm at 4:48 pm |
  13. moderate voter

    If politicians really want to save us money they should all take a pay cut

    December 14, 2010 04:50 pm at 4:50 pm |
  14. ThinkAgain

    Hey, Georgie, for once in your life, take responsibility! They are called the "Bush tax cuts" because you were the one who used reconciliation to pass them and YOU signed them.

    The Bush tax cuts have been in place for almost 10 years – and they HAVE NOT resulted in job creation here in the U.S.

    They did result in taking the Clinton budget surplus and turning it into a huge deficit.

    And if you don't like it – tough!

    December 14, 2010 05:06 pm at 5:06 pm |
  15. ThinkAgain

    Sammy D: Your list of jobs created by the wealthy are all low-wage, no-benefit jobs (house cleaners, landscaping, pool services, dining out, vacations, etc.). Do you really think that is what people aspire to in their lives – to be the low-paid lackey of some rich person who refuses to pay their fair share of taxes?

    The budget deficit is caused by the two unfunded wars started by Bush – who cut taxes during wartime (unprecedented in our nation's history).

    GW took the Clinton surplus and flushed it down the toilet so he could give his wealthy cronies the means to ship our jobs overseas. He started two wars and kept them off the books – to line the pockets of his buddies at Haliburton, et al.

    Everyone knows this – except folks like you who get their news from Faux and wouldn't know an historical FACT if is slapped you in the face!

    December 14, 2010 05:10 pm at 5:10 pm |
  16. StopTheEnvy

    He said he wishes they were called something else because so many people oppose them because they hate HIM. He's suggesting if it weren't associated with HIM, maybe people would look at it differently.

    If anything he's noting that a lot of people don't like him. How stupid are you people? Do you even read or you just take any opportunity to rant your petty thoughts. You peasants will always be peasants

    December 14, 2010 05:11 pm at 5:11 pm |
  17. Sniffit

    "Rich people do create jobs and spend money on house cleaners, landscaping, pool services, dining out, vacations, etc."

    Newsflash: most of them have enough money to do that without the tax cuts. All the tax cuts amounted to was free extra personal income to put in investments and the proverbial golden toilets (i.e., yachts, commuter helicopters, etc.) that add nothing of substance to the economy but rather just lock the money away where it contributes nothing...which by and large is PRECISELY what the already wealthy did with their tax cuts. The middle class stayed suffering and got no boost and, as a result, demand didn't really rise in any sectors but houseing (as a result of the bubble). Businesses don't expand and hire more people just because they got tax cuts that they consider magic, unearned extra profit. They expand and hire because demand exceeds their ability to provide supply. Anyway, the wealthy already had all the disposable income they could ever have needed for the things you list, so giving them more doesn't change their ostensibel contribution to the economic merry-go-round.

    "Cut the spending THAT IS WHAT IS CAUSING THE defecit"

    Actually, by far the largest contributing factor to the national debt and deficit is...drum roll please....the Bush tax cuts. This is unavoidable MATH, i.e., don't argue with it because it's a truth of the universe just like 2 + 2 = 4. Nobody who has a brain in their head thinks it's ok to first deplete your income sources and THEN reduce spending. If you wish to be FISCALLY RESPONSIBLE, you FIRST reduce spending and THEN utilize the leeway created to reduce your sources of income. The GOP did it in the opposite direction ON PURPOSE, using the ram-it-down-your-throat Reconciliation procedures (which, by the way, was why they were temporary) to create an untenable, unsustainable drain on our federal government's resources that would jsutify their constant calls for tax cuts that primarily benefit the wealthy, and evisceration of social assistance programs and important, necessary regulatory oversight bodies that protect consumers, workers, the environment, etc. They hate it all and their game was to stave it in order to create their own self-fulfilling prophecy that "spending is too high and needs to be cut." Yeah? Wel freekni duh, you cut taxes in a manner that exploded the deficit and forced your village idiot conservative POTUS to borrow buillions upon billions from CHina in order to fund his two pet wars...morons. Had the tax cuts never happened, we wouldn't be in quite this much of a mess.

    December 14, 2010 05:15 pm at 5:15 pm |
  18. rs

    Oh no, Mr. Bush. You foisted them on us as a "temporary" tax cut to give away the budget surplus. 10 long years later, Republicans want them for another two (and then probably indefinitely). No, sir Mr. (former) President, you own these. I think each and every American needs to remember the man who built the biggest, and wealthiest class in America, at the expense of the middle class and poor.

    December 14, 2010 05:17 pm at 5:17 pm |
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