A MAJOR HAT TIP TO GEORGE STOCKER FOR GRAPHIC ASSISTANCE WITH THIS
I have said for several years that the "W Tax Cuts" were a bona fide disaster. There is no legitimate argument to the contrary. We now live in a state of permawar on 2 fronts, we have radically expanded corporate welfare in as many other ways as possible and our infrastructure is collapsing. We need to invest in America on a level not seen since... well, frankly, on a level not seen.
The chart and figures posted below are from The Wall Street Journal
The single argument for extending this failed policy has been that it will create JOBS.
"Pro growth tax cuts... always create jobs."
Except they didn't. Under George W. Bush, we added 7.5 million fewer jobs to the economy than we did under 4 years of Jimmy Carter. It's worth noting that the American population was roughly 80 million fewer people in the Carter Era. When viewed per capita, this is beyond poor; It represents the fundamental collapse of job creation as we used to know it. There is much to learn from these numbers and others we will be publishing using them as context.
When? For the love of God, are these tax policies going to start "stimulating?"
President | Jobs created | Jobs at end of term | Jobs at start of term | Payroll expansion | Jobs created per year in office | Population growth | Percent change in population |
|---|---|---|---|---|---|---|---|
George W. Bush | 3.0 million | 135.5 million | 132.5 million | 2.3% | 375,000 | 22.0 million | 7.7% |
Bill Clinton | 23.1 million | 132.5 million | 109.4 million | 21.1% | 2,900,000 | 25.2 million | 8.9% |
George H.W. Bush | 2.5 million | 109.4 million | 106.9 million | 2.3% | 625,000 | 12.5 million | 4.8% |
Ronald Reagan | 16.0 million | 106.9 million | 90.9 million | 17.6% | 2,000,000 | 17.3 million | 7% |
Jimmy Carter | 10.5 million | 90.9 million | 80.4 million | 13.1% | 2,600,000 | 9.8 million | 4.3% |
Gerald Ford | 1.8 million | 80.4 million | 78.6 million | 2.3% | 745,000 | 5.1 million | 2.3% |
Richard Nixon | 9.4 million | 78.6 million | 69.2 million | 13.6% | 1,700,000 | 12.3 million | 5.7% |
Lyndon Johnson | 11.9 million | 69.2 million | 57.3 million | 20.8% | 2,300,000 | 11.3 million | 5.6% |
John F. Kennedy | 3.6 million | 57.3 million | 53.7 million | 6.7% | 1,200,000 | 8.2 million | 4.3% |
Dwight Eisenhower | 3.5 million | 53.7 million | 50.2 million | 7% | 438,000 | 23.3 million | 12.8% |
Harry Truman | 8.4 million | 50.2 million | 41.8 million | 20.1% | 1,100,000 | N/A | N/A |
Don't forget 'trade policies' and 'deregulation', which has possibly had an even greater impact on jobs. We've lost 50,000 manufacturing facilities, just in the past 10 years! Wasn't it Adam Smith who said, "A stick on the ground has no commercial value, but if you add labor to it by carving it into an axe handle — a thing of commercial value — you have created wealth." We don't make enough things, anymore. We've encouraged labor, off shore; and imported cheaper labor, even in the tech industry. Globalism is killing us, and it didn't have to.
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