Gov. Scott Walker Proposes Cutting Income Taxes
Gov. Scott Walker pledged Thursday to cut income taxes in the state budget he signs this summer, calling it the best way to spark the economy. But he also said the reduction would be phased in over a number of years.Tax cuts, the best way to stimulate the economy?
As much as Republicans would like to forget George W. Bush's entire time in office, his two terms were recent historical proof of the fact that tax cuts do not spark the economy.
"In Bush’s first term, the economy shed 913,000 private sector jobs! 913,000! The only thing that saved Bush’s first term from being a complete economic disaster, in terms of employment, was robust public sector growth: The economy added 900,000 government jobs," recalls Andrew Leonard.
Ronald Brownstein adds, "On every major measurement, the Census Bureau report shows that the country lost ground during Bush's two terms. While Bush was in office, the median household income declined, poverty increased, childhood poverty increased even more, and the number of Americans without health insurance spiked. By contrast, the country's condition improved on each of those measures during Bill Clinton's two terms, often substantially."
Do Republicans believe in any policies that actually work in reality?