September 2, 2012

Let the Numbers Do the Talking

I started out looking for the impact of Bush tax cuts on jobs. Finding agreed upon figures was difficult, but the consensus is definitely that jobs were created, no doubt about it, but not at an extraordinary rate if you factor out the job growth that would have occurred with or without the cuts. And the impact of the resulting deficits may have dampened job growth, so the net effect is really hard to figure. One comment from a Forbes Magazine article really struck me as right on target. This from JoeK:
"... the real spenders in this economy are the Middle Class. And when their spending is curtailed, as it has been through this period, demand is down, and the “Job Creators” have no reason to add employees, until demand reappears. Want a jolt of economic adrenaline? Tax the rich, and give tax cuts to the middle class. They won’t buy yachts, but will buy lots of other stuff, for their kids and themselves,"
While doing the research on the Bush tax cuts, I found several interesting charts and graphs. They are not always without a slant, I'll grant you that, but the facts do seem to be solid as near as I can figure. As the political rhetoric heats up, I hope these charts will provide some sense of the reality lurking behind the claims on both sides. Click on the link below each image to find the related story.

(Discretionary spending: 18% of the budget; 100% of the cuts.)

(One of these is not like the others.)

(More work done by fewer people. How does that work out at your job?)

(Not what you expected?)

(Corporate profits way up. Where are the jobs?)

(Class warfare? Maybe, but who's winning?)

 (The Clinton tax hike calmed fears about debt, spurring growth.)

(This really surprised me.)

(Which brings us back to where we started.)

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