In a June 8 2001 article by Sandra Sobiera of the Associated Press:
WASHINGTON - In a White House victory celebration, President Bush put his signature to the nation's first across-the-board tax cut in a generation on Thursday and promised American families rebate checks in time to help with September school bills.
Taxpayers should generally expect to receive tax refund checks based on the last two digits of their Social Security numbers, according to the IRS. Married couples filing jointly, the first Social Security number on the return will be used.
He proclaimed the $1.35 trillion tax cut, most of which takes effect slowly over the next decade, the first achievement for a ``new tone in Washington.''
Such broad tax relief has happened just twice since World War II - President Kennedy's tax cuts in the 1960s and President Reagan's in the 1980s - Bush told a packed White House audience of near-giddy Republicans and some Democrats.
``And now it's happening for the third time,'' Bush said. ``And it's about time.''
Rebate checks, most between $300 and $600 will be mailed beginning July 20 to every American who paid taxes this year. Eventually, income tax rates will drop, the child credit will double and the estate tax, which Bush calls ``the death tax,'' will die.
``Most families can look forward to a $600 tax rebate before they have to pay the September back-to-school bills. And in the years ahead, taxpayers can look forward to steadily declining income tax rates,'' Bush said.
Democratic opponents complained that the WEALTHIEST 1 PERCENT of taxpayers WILL REAP MORE THAN ONE-THIRD OF THE NEW LAWS BENEFITS ``For tens of millions of Americans, the check is not in the mail,
Wasn't all of that supposed to stimulate the economy? Those upper 1 percenters were supposedly the "job creators" right? Why did everything go to hell at the end of Bush's term then? The economy went into the toilet and millions of jobs with it. Hey CONS, explain that one....YOUR THEORY IS A LIE and a LOSER for the AMERICAN PEOPLE. Now stop obstructing and DO SOMETHING. You way didn't work, obviously.
Bush's 1.35 TRILLION vote buying GIFTS barely worked for buying the second election for him and obviously destroyed our economy by the end of his second term. The GOP CONS just scream and yell and whine that they had nothing to do with the economy collapsing even though it happened on THEIR dime !!!! It's hilarious how they think if they blame President Obama for it, somehow history will be rewritten and President Obama took office 6 months before he got elected? LOL. Fools. No one is buying all the lies anymore and YES Bush let us get attacked when he ignored the warning ONE MONTH prior. Somehow you CONS and your CON JOB CREATOR ROVE exhalted Bush after the attacks and many bought it, and then the GOP CON Corporate Megaphone put that lie on the news loops and idiots bought it. How sad. No one buys it anymore, you've been out numbered and out maneuvered. Be gone, you have no power here.
Danny, if you think that the housing and financial crisis were all created in the years of the Bush presidency you are delusional. There are a number of events, such as financial reform and expanded housing objectives that helped to cause this. 20 plus years in the making.
Also, Obama is going into his second term soon. Your boy owns the economy, owns foreign policy he owns the past four years.
How many times must you be told that the Bush tax cuts did not cause the recession. It was caused by the financial collapse. The financial collapse was the result of the housing bubble and risk leverage. Get a new tune Danny Boy, you're all wet on this one.
Theres... and Dan...
Yes, that along with systematic financial deregs by Repubs. since Ron Reagan. Bring back the SEC Rules of 1933-34 and 1943-44 - the years before 1981 when SEC had teeth. Bring back Glass - Steagall. Bring back the Uptickl Rule for short sales - repealed by GWB in July, 2007! Now everyonbe thinks he's an expert on options hedgies, straddles, shorts just by reading off the ocmputer or listening to CNBC and Cramer! It's gambling. If you wish to gamble, go to a casino where you see results in real time.
GW said - I heard it - during his administration,"I am going tot be the home owner president. Everyone will own a home!" How nuts is that? Bush = completely irresponsible guy born of privelege who over and over again put his "silver foot in his mouth" as former governor of Texas Ann Richards said. Fundamental fact: Money has value in time. Interest due comounds every second every day for the past 11 years! This recession goes back to Bush's 8 years - 2 unpaid for wars and reckless spending, defense - military spending - paying back his lobbyists. Simple arithmetic! Now the Repubs. wish to continue Bush's madness. Hey, it's time to pay the piper. Pres. Obama - Please, Mr. President, no more nice guy! Let them come forth with their ideas. Of course, they have none. None noted. They're still the same ole same ole obstructionists as they said on the first day on Pres. Obama's inauguration. "We will make sure he is a one term president!" He won by a greater margin ever for a 2nd term than GW did on his 2nd term.
GW's mantra 2004 was that he kept us safe! Not! He lied re: Kerry;s service by the swiftboating guys. Those guys were paid and planted by GW's campaign. He did not keep me safe on 9/11/01!. Obama by contrast won by a much greater margin than GW did in 2004 - fair and square. The people have spoken. Mitt lost. Face it. i have never seen such poor losers than this year. I have voted since 1960 .
Obama will serve a 2nd term as our president. Let's support our country - our president.
Sentiment: Strong Buy
Bush tax cuts contributed greatly in turning a Clinton budget surplus into a Bush budget deficit, specially after Bush started very expensive unfunded wars without increasing taxes to fund these unfunded wars, but continued tax-cuts-for-the-rich while expensive wars were raging.
According to economics professor Ravi Batra, tax-cuts-for-the-rich increases money for the rich to do speculations, which produces bubbles, which will eventually burst, resulting in economic collapse. We saw this happened exactly as predicted by professor Batra. He also said that excessive deregulation (which together with tax-cuts-for-the-rich form the so call Trickle-Down economic principle, practice by Bush and other rich conservative Republicans) enable the rich to take speculation (started by tax-cuts-to-the-rich) to the extreme, causing giant sized bubbles, and resulting giant sized financial system collapse like the 2008 Great Recession, and like the 1929 Great Depression. Yes, Bush did not started the financial destructions, his previous conservatives and unbridled free marketeers started the road to financial collapse. But, Bush was the "last feather" that broke the financial camel's back. Read the books by professor Batra to get a detail explanation of how Trickle-Down economics causes depressions and great recessions.
But, in addition, now there is "central planning" by the super rich 1 percent to hire lobbyists to controlled the government. Some of the lobbyists appear to have dealing and ties to foreign countries. The super rich, and big corporations "hide" money in foreign banks. The conservatives favor outsourcing. Many super rich trying to control government inherited their wealth, so that they can be crazy while being super rich. Even some self made very smart super rich become somewhat crazy as they grow older. Now we have central planning by the crazed super rich people. There is no question, that most of the super rich are crazed with greed. Money is their god.
Over the past few weeks, many Americans have felt anxiety about their finances and their future. I understand their worry and their frustration.
We've seen triple-digit swings in the stock market. Major financial institutions have teetered on the edge of collapse, and some have failed. As uncertainty has grown, many banks have restricted lending, credit markets have frozen, and families and businesses have found it harder to borrow money.
LOL, gee Georgie boy, I guess that "fuzzy math" you laid out with those tax cuts in '01 didn't quite pan out huh???? What a loser, and this is the same thing the CONS want to keep doing? CONS, you can shout it over and over but the AMERICAN people "got it", and VOTED to get all of that crap done and over with. Move aside, you LOST.