Quote:
Originally Posted by Undertoad
Didn't happen? The growth from 2003-2006 was quite brisk, third quarter 2003 after the cut was phenomenal. Negative growth didn't happen until third quarter 2007. It wasn't Clinton- or Reagan-era growth, but it was growth for sure. Unemployment dropped from 6% when the 03 tax cut happened to 4.5 by 2007.
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The costlier of the two Bush tax cuts, the first in 01 at a cost of over $1trillion had little short term (month to month) impact on jobs in 02 and 03:
From the Bureau of Labor Statistics
http://data.bls.gov/PDQ/servlet/Surv..._view=net_1mth
The job growth in 04-07, after the second Bush tax cut in 03 (over $500 billion) was at a healthy rate although
real earnings were flat or decreased suggesting that the job growth (mostly in lower paying jobs) was not necessarily stimulating the economy.
But in case where we are now after the $1.8 trillion in tax cuts?