Monday, June 6, 2011

Tax cuts for the wealthy to create jobs?

When the "Bush Tax Cuts" were enacted in 2001 (Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA)), unemployment was at an average of 4.7%. When the second round was enacted in 2003 (Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA)), it was at an average of 6.0%. Now, 10 years later, the unemployment rate is around 9.0%.

Tell me again how these tax cuts are supposed to create jobs....?


Source: http://data.bls.gov/timeseries/LNS14000000

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