Visualizations : Effects of Bush tax cuts : "unemployment spike is the biggest fact...

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Created by: cgreen Created on: Tuesday September 04, 1:43 PM

Data file: Effects of Bush tax relief on Tax Receipts, GDP and employment

Data source: OMB, BLS.GOV

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Taxes

The 2008 presidential campaigns

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Comments (4)

cgreen says:

Unemployment rate chart shows the effects of the loss of employment in 2000, 2001 and 2002 from the lingering effects of the Clinton recession and the dot-com bubble bursting. Also unemployment rose after the attacks of 9-11 and the effects on the economy. The Bush tax relief took effect in 2003 and the results are shown.

Posted Tuesday September 04, 1:46 PM
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cgreen says:

After the tax cuts for all working Americans took effect in 2003, we see unemployment dropping to historic lows, we see the GDP rising and tax revenue into the US Treasury rising. Increased economic activity from tax relief always results in more tax revenue into the treasury. This puts the lie to the politicians who try to say "how are we going to 'pay' for the tax cuts?". When more money is coming in after the tax cuts than before them, how is that a "cost" to the treasury?

Posted Thursday September 06, 3:45 PM
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John L Smart says:

Interesting. This could be impressive...

Your comments imply that they are a result of Bush's tax cuts as opposed to other factors. It seems much more like the unemployment spike is the biggest factor with tax receipts.

Could you please update to include the years 1994 through current so that there can be at least a trend comparison between Clinton and Bush?

Also, how about including budget deficits/surpluses?

Posted Wednesday November 21, 10:49 AM
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cgreen says:

"unemployment spike is the biggest factor with tax receipts". What is the logic or economics behind that? The Bush tax cuts for all working Americans went into affect in 2003. Since then we see the rising GDP and Tax Receipts into the treasury, and the dropping unemployment rate. So how does a decreasing unemployment rate translate into an "unemployment spike" in your mind?
The deficit is also going down due to the increased revenues into the US Treasury that are the result of the Bush tax cuts. That trend is shown in other graphs on ManyEyes.

Posted Thursday December 06, 10:03 PM
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Visualizations : Effects of Bush tax cuts : "unemployment spike is the biggest fact...

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