Saturday, August 7, 2010

Effect of Bush Tax Cuts on Total Federal Government Revenue

The Bush tax cuts were passed in mid 2003 retroactive to the first of the year, so the true effect of the cuts did not take place until the end of 2003. From then on, total Federal revenue increased at a significant rate.

After 2007, with the Democrats in control of Congress and spending, the sub-prime housing bubble, created by the Clinton Democrat Congress headed by Frank and Dodd, burst and the economy went into free fall. Federal revenue plunged as spending soared.

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