Tax Cut Results

“The men American people admire most extravagantly are the most daring liars; the men they detest most violently are those who tell them the truth.” H.L. Mencken

On December 16, 2011 The Sun Times published my letter to the editor which posed the following question to those who had voted for Bush:  “How many of the 5,730 Cleburne County Bush voters are willing to study what happened to the U.S. economy AFTER the Bush tax cut and provide readers factual answers, giving their source, for the following: Jobs-provide the name of one individual/corporation/business that took their savings from the Bush tax cut in 2001 and created one job in Heber Springs giving the business name, address, number of jobs created, and date opened…Same question for Cleburne County State of Arkansas, and U.S.”

Over a year has gone by and The Sun Times has gone to press more than 100 times since my letter; however, not one response has been published showing one job created in Heber Springs, Cleburne County, Arkansas or the U.S. with savings from the Bush tax

cuts.

In the 1920’s Republican presidents Harding, Coolidge and Hoover led Americans down the road of “lower taxes” on the promise of economic good times with a chicken in every pot and an automobile in every garage.  That road ended on a day historians call “Black Monday” October 28, 1929 when the stock market crashed and the U.S suffered its greatest economic disaster in history. 

In the 1980’s Republican President Reagan led Americans down the road of “lower taxes” promising to curb big government spending and balance the budget.  That road led to a plunge of 508 points in the stock market on Black Monday, October 18, 1981; to the greatest increase of the national debt in history (300%); and to the raising of the national debt limit 18 times: the greatest number of increases in history.

In 2001 Republican President George W. Bush led Americans down the road of the largest tax cut in history on the promise it would create jobs, stimulate the economy and create a budget surplus.  Bush ignored the warning of the Bush Economic Advisement Council, consisting of 450 economist, including 10 Nobel prize laureates, who warned: “these cuts will worsen the long term budget outlook….will reduce the capacity of the government  to finance Social Security and Medicare benefits as well as investments in schools, health, infrastructure, and basic research….and generate further inequalities in after tax income.”  That road ended on September 16, 2008 when the stock market plunged 504 points and Americans suffered what historians describe as America’s second worst economic disaster.

Were Harding, Coolidge, Hoover, Reagan and Bush and the Republicans who followed them down the lower tax roads “daring liars” or telling the truth about what lowering taxes would do to the American economy?

On September 10, 1993 President Clinton signed a law raising the tax rate on the top 1% of wealthiest Americans to 39.6%.  Clinton’s tax increase was followed by the longest economic expansion in America’s history, which created 23.1 million jobs and produced 3 balanced budgets. Republican in Congress in September 1993, including McConnell and Boehner voted, 100% against the Clinton tax increase saying it would increase the deficit and “kill jobs.”   Who were the “daring liars” and who were “telling the truth” about the 1993 tax increase—Clinton and the Democrats or McConnell, Boehner and the Republicans?

 Eric Cantor, Republican leader in the House told you how he and other Republicans govern when he said:  “Look we screwed up when we were in the majority. We fell in love with power.  We spent way too much money—especially on earmarks.  There was too much corruption when we ran the place.”

McConnell and Boehner continue to be in “love with power,” and are recommending Americans again follow Republicans down the same economic road of  “lower taxes,”  Republicans have traveled over 80 years.  History shows the tragic end of that road: economic disaster.

The economic prosperity of Americans depends on “We The People” studying and becoming knowledgeable on all issues—including taxes; becoming involved by supporting issues that benefit “We The People” not a select few; becoming knowledgeable enough to identify and support the candidates who are telling you the truth on all issues—including taxes; or “we The People” can take the easy way of doing nothing and allow the “daring liars” to lead this country down the same old Republican road that will end in another economic disaster.  Which do you choose “truth” or “daring liars?