The average American, if asked, would certainly say that George W. Bush is remembered for major tax cuts. After all, the term “Bush Tax Cuts” is a word in the political vocabulary often used.
So if one was told that actually Barack Obama cut taxes more, the reaction would be disbelief. But that is true, which even conservatives and Republicans try to hide from the American public!
Between the tax cuts in 2009 and 2010, over $900 billion in tax cuts will have been enacted in Obama’s term, almost double what Bush brought about in his first term by signing tax legislation!
Beyond the dollar amount, and accounting for inflation to raise the numbers for Bush, there is also the issue of WHO received the bulk of the tax cuts!
85 percent of the tax cuts under Obama are to the bottom 80 percent, while more than half of the Bush tax cuts went to the richest 20 percent!
And, finally, the Obama tax cuts are TEMPORARY, as compared to Bush, where it was meant to be PERMANENT, which is what has led to the economic disaster we now face!
With the growing responsibilities and problems this nation face, we all have to chip in and pay for the present and the future, rather than glorify greed and selfishness on the part of the wealthy!
And it is not as if the wealthy have not paid higher levels of taxes in the past, and it did no harm, as they still remained wealthy! The propaganda regarding this, how harmful it is to tax the wealthy, claiming they work so hard and are being penalized, is unjust when compared to how hard the average person works, and yet he is expected to contribute higher levels of taxation percentage wise than the rich. It is the great myth believed by millions of people who should know better!