Quote:
Originally Posted by tony286
after war ww2 they were alot higher and the economy roared.
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Due to several factors, a major war is always followed by economic growth as industries turn to producing consumer goods. That's true, and has jack shit to do with tax rates. You're also talking about a time when, for example, social security tax was 1.5% rather than the 10.2% it is today.
Quote:
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Bush had the worse job growth in modern times but he gave tax cuts.
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The official chart from the Bureau of Labor Statistics:
In other words, you're so wrong on the facts it's completely ridiculous. You couldn't be more wrong. The entire time Bush was president the unemployment rate was about HALF of what it's been under Obama.
What happened while Bush was president was the subprime mortage "crisis" - about 400 billion in mortgages were "at risk", meaning a 5% or greater chance of default. If the government did nothing, roughly $30 billion worth would have defaulted. Obama's solution? Spend $2 TRILLION on failing solar firms to solve a $30 BILLION problem in the HOUSING market. We could have simply paid off all of the subprime mortages completely and it would have cost 80% less than Obama spent to not solve the problem.
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