After complaining about the popular name for his disastrous tax cuts for the rich, Bush then goes on to sell the benefits of his tax cuts for the rich. Despite there being no evidence to support the common right wing theory that tax cuts spur investment, Bush continues to promote this false theory. After all, what is Mitt Romney doing with the tax cuts that he received besides adding an elevator for his cars or tearing down his $12 million house and building something larger?
If the country is looking for something to boost the general economy and not just a few workers, tax cuts for the ultra rich is a bad idea. CNNMoney:
"I wish they weren't called the Bush tax cuts. If they were called someone else's tax cuts, they'd be less likely to be raised," he said in introductory remarks at a conference at the New York Historical Society.
The former president repeated the argument often used by Republicans -- that eliminating those tax cuts for the wealthy, as Democrats have proposed, would hit small businesses and hurt hiring.
"If you raise taxes on these so-called rich, you're really raising taxes on the job creators," he said at the conference, which was sponsored by the Bush Institute, which he opened after leaving office. "And if the goal is to create private sector growth, you have to recognize that the best way is to leave capital in the treasuries of the job creators."
