Tax Cuts For The Rich Don’t Work

B’Man: Another in the series of emails I received from CAF’s (Campaign for America’s Future) Making Sense 2008. John McCain and many other conservatives say they would solve our current economic problems by expanding George Bush’s tax cuts for the rich. For example, McCain has called for making the Bush cuts permanent and for cutting the corporate income tax rate from 35 to 25 percent. This is a recipe for economic disaster. Tax cuts for the rich have not and will not help middle income Americans. * Bush promised that his tax cuts would create jobs, but they didn’t. A conservative-dominated Congress enacted two sets of Bush tax cuts, in 2001 and 2003. Job creation was a major Bush selling point, especially in 2003 when the Administration asserted that the tax cuts would create 5.5 million jobs from July 2003 through the end... [read full story]