Berkeley CSUA MOTD:Entry 41624
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2025/07/14 [General] UID:1000 Activity:popular
7/14    

2006/1/31-2/1 [Politics/Domestic/President/Bush] UID:41624 Activity:nil
1/31    All Bush job growth due to government spending
        http://www.epi.org/content.cfm/webfeatures_snapshots_20060126
        \_ First line: "Changes in tax law since 2001 reduced federal
           government revenue by $870 billion through September 2005."  Yeah,
           that number is kind of pulled out of someone's ass.
           \_ URL that contradicts that line?  You didn't even read the rest of
              it, did you?  It's mostly from the whitehouse and defense
              department's own jobs numbers.
              \_ It's a projection.  It's not a real number.
                 \_ Bush upped the ante on this number last night.  He called
                    it $880B.
           \_ Not according to the Congressional Budget Office.
              2001 Revenue = $1991.4B
              2004 Revenue = $1880.3B
              2005 Revenue = $2153.9B
              http://www.cbo.gov/budget/historical.pdf
              We can hope the rest of his data is more accurate.
              \_ I assume the article claims $870B in lost "potential"
                 revenues.  That is, the projected minus the actual.  Ignoring
                 of course any effect the cuts had (or didn't have) in spurring
                 the economy.
                 \_ Is that your bias speaking?  The quote is very specific.
                    "Changes in tax law since 2001 reduced federal government
                    revenue..."  Even if the author did mean "potential"
                    earning, he is being extremely deceptive.  Again, one
                    can only wonder at the quality of his other "research".
        \_ That's a prime example of well-documented research.
2025/07/14 [General] UID:1000 Activity:popular
7/14    

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Cache (2188 bytes)
www.epi.org/content.cfm/webfeatures_snapshots_20060126
Sluggish private job growth indicates failure of tax cuts Changes in tax law since 2001 reduced federal government revenue by $870 billion through September 2005. Supporters of these tax cuts have touted them as great contributors to growth in jobs and pay. But, in reality, private-sector job growth since 2001 has been disappointing, and a closer look at the new jobs created shows that federal spendingnot tax cutsare responsible for the jobs created in the past five years. If tax cuts have created jobs at all since 2001, it will have happened in the private sector. Assuming that job growth in 2006 matches the Bush Administration's projections, the economy will have added about 20 million jobs to the private sector from FY2001 through FY2006. But how many of these two million jobs actually can be attributed to tax cuts and how many to increased government spendingparticularly increased defense spendingin this period? Private-sector job growth from FY2001 to FY2006 Based on Defense Department estimates of the number of private-sector jobs created by its own spending, we project that additional defense spending will account for a 1495 million gain in private sector jobs between FY2001 and FY2006. Furthermore, increases in non-defense discretionary spending since 2001 will have added yet another 1325 million jobs in the private sector, for a total of 282 million jobs created by increased government spending. Increased mandatory government spendingwhich is not even included in these estimates or the accompanying chartwould account for even more job creation. The mere fact that the projected job growth resulting from increased defense and other government spending exceeds the actual number of jobs projected to be added to the economy through 2006 clearly indicates that the tax cuts hardly seem plausible as the engine of the modest job growth in the economy since 2001. Readers may redistribute this material to other individuals for noncommercial use, provided that the text, data, and all HTML code remain intact and unaltered in any way. This article may not be resold, reprinted, or redistributed for compensation of any kind without prior written permission.