The Congressional Budget Office (CBO) has estimated that extending the Bush tax cuts of 2001-2003 beyond their 2010 expiration would increase deficits by $1.8 trillion dollars over the following decade.[32] The CBO also completed a study in 2005 analyzing a hypothetical 10% income tax cut and concluded that under various scenarios there would be minimal offsets to the loss of revenue. In other words, deficits would increase by nearly the same amount as the tax cut in the first five years, with limited feedback revenue thereafter.
http://en.wikipedia.org/wiki/Supply-...s#cite_note-50
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The Bush Administration is a classic example of Republicans using $1.8 trillion in public funds to provide "tax cuts" to redistribute wealth in America to a select few - in the name of stimulating the economy and job creation.
Republicans, however, denounce social programs by the Democrats as "socialist"attempts to "redistribute the wealth."
After 8 years, perhaps the Republicans would care to explain -
- Where are the jobs?
- Where is the booming economy?
- What happened to most of the $1.8 trillion?
- Where's the accountability?
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God bless your great nation!
