Given the spectacular nature of his economic failures, former President George W. Bush should probably avoid lectures on what policymakers should do when cleaning up his mess. But the man with the limitless chutzpah still likes to think he has some credibility on the subject.
Forbes magazine posted this clip of Bush speaking in New York City this morning at the George W. Bush Presidential Center's conference on "Tax Policies For 4% Growth."
And how, pray tell, does Bush believe tax policy can lead to 4% GDP growth in the private sector? How else? By giving wealthy people more tax cuts. Indeed, the former president argued, "[I]f you raise taxes on the so-called rich, you're really raising taxes on the job creators."
It's tempting to go through Bush's remarks, detailing all of his errors of fact and judgment. I'm inclined to explain to the former president that millionaires and billionaires aren't "the so-called rich"; they're the actual rich. It's also tempting to note than when Bush says, "If you raise taxes, you're taking money out of the pockets of consumers," the same underlying policy argument applies to food stamps and unemployment benefits. And while we're at it, it might also be fun to explain that tax increases wouldn't be quite so necessary had Bush not blown a record-high budget surplus, added $5 trillion to the debt, and left President Obama with a $1.3 trillion deficit.
But you know what? Let's put that aside for a moment and consider a larger point: Bush has been so severely discredited, listening to him give economic advice is like getting tips from Mitt Romney on policy consistency.
Bush had his shot for two terms. He got the massive tax breaks he wanted; he got the spending levels he wanted; he got the regulatory framework he wanted. We tried it his way for nearly a decade and the result was an unmitigated disaster for the ages. As has been well documented, we'll be dealing with the consequences of his astonishing failures for many, many years to come.
And now he wants to lecture us on tax and economic policy? Is he serious?
Don't go away mad, Mr. Bush. Just go away.
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It would be really interesting to hear Dubya list what he thinks were his accomplishments as President. And if he were honest, that would be an extremely short and footnoted list. (e.g. we took Saddam Hussein out of power when we really should have been going after bin Laden).
That would have ruined his plans of Incorporated War.
True - which points to something else he would count as an accomplishment. He made defense contractors and their investors (think Cheney) very, very wealthy.
And those are the people that will see that 4% GDP, and they will grow over 200% more wealthy. Got it now?
Bush has been hiding since Obama was elected because his greatest accomplishment was the Patriot Act that collapsed the economy.
Proof?
Bush knew his legislation collapsed the economy, starting with the housing market.
He's should crawl back under his rock.
It's interesting to note that Clinton gets credit for about four years of good economy, Bush gets blamed for 12-16 years of a bad economy and Obama gets no blame at all.
The funny thing is that the facts don't actually matter because you guys have such blind hate for Bush. You've got perhaps the most corrupt and inept president in modern history in office but you guys love him because of what he stands for.
I kind of pity you guys. When a Republican ends up getting elected this year you're all going to go have to get jobs like the productive members of society. Then again I'm comforted to know my tax dollars won't be wasted paying you to sit at home and live off everyone else's hard work any longer.
You Guys are us guys and we guys we're all in this together. I've been working since I was 13. Maybe you've just been handed a better deal. Maybe I have been too by learning the hard way. With all the struggles that i've had to go through in life watching good men die (and women). I've learned it's no longer you guys it's us and we have to start helping each other. I'm really concerned about my neighbor for example He's 93 years old and an ex Marine he lives by himself. So all of his neighbors look out for him. God Bless you. Somebody has been feeding you a line that isn't true. I've worked so hard all my life that my legs hurt constantly. If you have nothing nice to say then do not say it.
See, there's the problem. "Handed a better deal."
I've worked and worked hard for everything I have. No one "handed" me anything. People make decisions, they live with the consequences.
samusx
No one makes it totally on their own. If you think that have then you are deluding yourself.
I love how sam complains about how liberals don't follow facts, but then immediately makes claims that he can't back up. Most corrupt and inept POTUS in modern US history. Who is that, exactly? We're not working? Who is that exactly? Who is it that's going to go back to work that your tax dollars won't be helping anymore? What is a productive member of society exactly and to whom are you speaking? What evidence of any of these claims do you have?
But yes it's sam who follows facts. Not us. Nope.
Many of us have been "handed a better deal." They're people—like me—who are grateful for good loving parents, good effective schools, and good G-d-given health. It's just a little bit harder to make it without those being "handed" to you.
Meanwhile, there are people who have worked hard and played by the rules who are suffering from a difficult economy, collapsed sales and layoffs through no fault of their own. When there's one job for every twenty applicants, the laziness argument ("sit at home and live off everyone else's hard work") just doesn't work.
Shumuwada is looking after his neighbor. He isn't looking to the G to do it. Or should he just tell his neighbor to go f himself? After all, he decided to be 93.
Once again, you ignore what I said. Please explain why Clinton gets credit for about four years of good economy, Bush gets blamed for 12-16 years of a bad economy and Obama gets no blame at all.
You guys can't because there are no facts to back that up.
It took me a couple of days to realize the truth and brilliance of what all of you said to me. I have actually had help. The funny thing is, all the people that ever helped me were rich. You know, all of those evil rich people that you hate. Maybe that's why you guys aren't successful too...
So whoever taught you to read and write was a rich person. The person who taught you math was rich too I suppose. And allthe other things you have been taught in your life. You should open your eyes to all the ordinary people who have helped you in life. Because I guarantee not all of them were rich.
Sam you are silly, not all sucess can to measured by wealth.
So, someone doing the job their paid to do is helping me out? If that's the case then I definitely need to thank the wealthy farmers, oil companies and Wal Mart for keeping me alive.
If that's the case, then liberals need to quit complaining about other people's wealth. Hypocrites?
Preferably to a country that takes the Convention against Torture seriously.
I can't even stomach opening the video up to listen.
Former President 5-4.
Was that +4% or -4% GDP growth? We know that you're a little math challenged there, George.
Fuzzy math makes a comeback.
How can you say that? Clinton raised taxes on the rich, and the economy went to hell. W cut taxes on the rich, and it was nirvana!
The facts speak for themselves, don't they, W?
What facts are you refering to. Clinton had a balanced budget + surplus. Clinton had the economy growing. Bush crashed the economy, started 2 unfunded conflicts, based on lies.
Please cite where the "economy went to hell" when Clinton was in office.
Ronnie raygun raised taxes on the rich when he discovered his tax cuts were hurting the economy. But, hey, lets not let little details (facts) get in the way of right wing talking points.
@idiots... forgot to say "snark on." He should have known this would happen.
Larry I am pretty sure idiots was saying that to be sarcastic
When Bush came into office he had to deal with the "Clinton Recession". He dealt with it by lowering taxes for EVERYONE. He did a great job until 9/11 ruined everything.
Yeah, three years into the Bush administration, Hannity was still calling it the "Clinton Recession." Three years into Obama's administration—Hello, Sean?
Just to be clear on "great job" until 9/11. The economy lost 1 million private sector jobs in the first nine months of the Bush administration.
He then went on to lose another 1.7 million more private sector jobs in the next two years.
"Just to be clear on "great job" until 9/11. The economy lost 1 million private sector jobs in the first nine months of the Bush administration."
You're absolutely right. Like I said he had to deal with the Clinton Recession.
I encourage Shrub to remind us of just how good we had it during his administration!
This has to make Romney sick to his stomach as his whole thing is to hope nobody remembers what happened the last go round with this crowd and their wrecking crew approach to civil society and government.
Let Bush be Bush. Those who have put it past them will only be reminded.
It must be Romney's birthday? Now that he has received Bush as a door prize. I'm sure Bush's intentions are good. I beleive I may seriously accept this as an apology from Bush.
He will go down as the "worst" president in the history of America, next - the "worst" Governor for a State is the current Governor in Maine named Paul LePage, better known as the Buffoon Governor!
Second worst. First place must always go to James Buchanan, who sat on his thumbs throughout the secession crisis and opening of the Civil War. Not even GWB's monumental incompetence can top that.
Looking back at where we've been, it might have been better if there had been a secession! GWB aka Shrub, the WORST AMERICAN PRESIDENT EVER!!
MeddlingMonk, it is unfair to call Buchanan worse than Bush for his response to a crisis that Bush never had to face. Can you imagine if Southern States (including Texas) had tried to secede on Bush's watch for the purpose of bringing back slavery? He'd have let them go! And probably gave them all a bunch of nukes for "self-defense"! George W. Bush was the greatest catastrophe in American history, a self-inflicted wound that may yet be fatal to this entire nation.
I'm afraid that doesn't make much sense, Alan. You can't make a case by throwing around hypotheticals. If you have a way of looking into parallel dimensions, you ought to share that technology with the rest of us.
If you want something substantial to evaluate, you could compare the casualties of the Civil War to the casualties of Iraq and Afghanistan: more than 600,000 (probably lots more) v. less than 10,000. Also, Bush's policies brought the country close to financial ruin, but Buchanan's inaction very nearly ended it altogether. These are objective things than can be measured against each other, although ultimately we're comparing two grades of @!$%#.
And, Zora, if the South had been allowed to secede, how long do you suppose it might have been before slavery ended in the Confederacy?
Steve, you rarely miss the larger point, but here you do.
The point of this speech is to kick-off the decades-long effort to re-write the Bush Presidency as successful. One day, at a GOP Convention in the Not Too Distant Future, there will be huge images of Ronald Reagan and George W Bush beaming down on the happy congregants, shining their Light of Brilliance onto the assembled multitudes. Of course, that convention will be in "Bush City," as we will have re-named Houston.
I've seen this act before -- Nixon, Reagan, and even recently McCarthy. Bush is just the next icon-in-waiting.
Maybe it's a passive aggressive attempt to get rid of Romney.
Actually didn't they have his picture in Iraq - ok so it was an effigy, but there were "bonfires"....
JP - You gave me a little Orwellian shiver.
Reagan's trickle down policies turned millions of baby boomers into millionaires during the 80s and 90s. It's too bad that the libs were too busy sparking up to listen.
They must really be desparate if Bush is willing to sacrifice his good reputation and throw himself into the fire which has been ignited by The Big Oil Companies. If I were a good person and they wanted to name something good after me maybe not a blowing up star but, maybe a humanity bill or something I would be proud to have them use my name. So, why is Bush so not proud of having the Bush Tax Cuts named after him? Didn't he try to suggest that it was the best thing since apple pie.
"why is Bush so not proud of having the Bush Tax Cuts named after him? "
He was joking..............JEEEEEEEZ!!!
What he was serious about was keeping money out of the hands of government.....that must be killing you liberals.
All money exists at the provision of the government.
I don't think you understand what the term "legal tender" means
Is there some sort of Ann Coulter-ish orgasmic satisfaction to concluding every comment with the supposed insult of "liberal?" You know, like:
"That's just like a liberal."
"That's how all you liberals think."
"That's what's wrong with you liberals."
Etc.
I don't know Genie, ask Bin Ladin
Job Creators
What a sad state of affairs. Even the Republican elite, such as Supreme Court justices and former presidents, have outsourced control of their brains to the likes of Frank Luntz and Roger Ailes. Scalia and Bush add nothing to any conversation that hasn't already been been repeated ad nauseum by the cast of Fox and Friends.
HOW BAD was George W. Bush as President?
So bad that the country elected a Black man to be President of the United States.
Not cool.
Maybe not, but the TRUTH isn't always cool! Even white people didn't want the old geezer, with the mean cheerleader - they went for the black man - so you know WE were going over the cliff! Sad part is that the American people thought what in 2 years the black man would clean up everything the spoiled rich white brat left behind - yeah right!
Zora
If you were someone that had a bit of financial success (assets over $600,000) and knew that the government planned to confiscate half of what you had accumulated upon your death you would have been awfully glad that Bush came along. I sure as hell was.
You rich, Genie You rich like $600,000.00 rich You have a big house maybe like 3 cars cool Are you a Republican You're rich though?
Gene, do you realize that you just claimed to be deceased? (Actually, if your brain really was being devoured by maggots right now, it would explain a lot.)
Umm the estate tax never kicked in at $600,000. At least not under Clinton or Bush or PBO. The estate tax at it's lowest rate under these presidencies was $2+million in assets. PBO wants to raise that to 5+million as a compromise. The taxed rate under Clinton, also, was not 50%. It was 35%. This is the rate that PBO wants to return to as well. I think you are confusing the fact that there are certain taxes not specific to the estate tax that take place such as gained income and real estate tax. This is wildly different from the estate tax and raising or lowering of the estate tax did not and does not have an effect on these taxes. Bush did not change these taxes either.
Actually, the estate tax exemption AKA "Unified Credit" hasn't been $600K since 1997, when it was raised under the Clinton administration to $625K. It's risen steadily since then, already up to $5 million in 2011. Historically, estate tax rates started at 18%.
Of course, tax rules are only complicated for the rich, so a huge estate planning industry has developed, which means in turn that, just like income tax, nobody with that kind of money actually pays what these rates seem to imply on their face.
Ah it does appear you are correct George. I wrote the tax policy center to have their page changed because that's where I looked the information up initially. My apologies
Here are the correct numbers:
2001- 55% at $675,000
2002-2008 $1 million and above at below 50%
2009- $3.5 million at 45%
2010- repealed
2011- $5 million at 35%
2012- $5.12 million at 35%
Projected for 2013- $1 million at 55%
So yes if you did inherit an estate after 2001 your rate would've been lower and your exemption would've been lower than under Clinton. But where I am correct is that the estate tax did not apply to anyone outside of the 1% under Clinton. I messed the rest up after that. 300,000$ or above is considered the 1% in America. So anything above that would be considered "rich" and hence would, presumably, fall under the estate tax since that tax was specifically designed to target the rich.
Yet another fool's choice for taking money from successful people. Yes, the estate tax and the Buffet rules are popular among the general population. Tax the rich and our problems are solved. What most don't realize is there are so many loop holes the rich just have to pay smart lawyers to avoid taxes. The only answer is to simplify the tax code, still keep it progresssive, but everybody pays something. Get rid of deductions and credits. Why should a renter subsidize a home owner? I could go on Have the government concentrate on jobs, national defense, and upholding the Constitution.
George and Mouser. You're both trying to pretend you know the facts regarding estate taxes. Don't make fools out of yourself. The subject is waaaay over your head.
300k makes one part of the 1%??????????? In the real world 300k is peanuts!!!
Who cares you're dead. When I die then I will say "Fend For Yourself" But, not right now.
Pretending? Excuse me? You have no idea who I am.
Yes Eugene. If you earn more than 300,000$/year you are in the 1% of income earners in the United States. 99% of Americans make less than 300k/yr. You may not feel like it's a lot of money, but the fact is 99% of the American population does not make that much income. Secondly what did I make up here eugene? I quoted the sources I got my information from and when one of them turned out to be wrong I redacted my statement and factually corrected it. You on the other hand make claims and throw out attacks but provide no evidence other than logically fallacious arguments. And you're expecting to have the higher ground because....?
To quote Pink Floyd
"Careful with that axe Eugene... AAAAAAAAAWWWWWWWWWW!"
Job creation under Bush's programs were the WORST of any president from when records were keep for this, 1945.
No more needs to be said about his policies.
The Bush/Cheney contribution to American Politics is that there are never any consequences to your acts.
(An example is the pithy remark of Dick Cheney to Pat Leahy, on the floor of the Senate.)
LMAO! Trotting W back out after being underground for 3.5 years is the best thing to happen to Obama in a long time. I honestly saw this article and thought to myself; why couldn't he stay gone?" but then I realized that if any americans forgot why they voted for Obama, this joker was suddenly back in the picture to remind them!
I dunno. I think it is pretty good timing . . . for Democrats.
Why not remind the nation (for those who apparently have Alzheimer's and cannot remember what happened four years ago) who caused the problems to begin with.
I'm pretty sure GDP never grew to 4% under Bush. So, I have some additional speech topic suggestions for him:
1) How to avoid foreign wars
2) How to reduce the deficit
3) How to achieve bipartisanship
4) How to protect human rights
5) How to improve environmental protection
6) How to respond to natural disasters
7. How to make your country beloved on the world stage.
8.) "Fool me twice.. er.. Can't get fooled again" for dummies.
There Bush goes again - still delusional after all these years.
He was born with a silver foot in his mouth, (Loved Richards), and an IQ bought and paid for by Daddy, (even if it is below plant life).
"Don't go away mad, Mr. Bush. Just go away."
Are you kidding? I mean, yes, the mere sound of W.'s voice will always nauseate me, but I don't actually have to listen to it. Electorally speaking, I'm delighted to see him spouting the same bull@!$%# as Mitt Romney.
I wonder what he tells himself is the reason for the worst economic crisis since 1929? Does he recognize his roll in any of the mess we're in? And just how bad do things have to get before Republicans finally realize that the Bush policies didn't work for him and won't work for them either? The lack of reality based politics scares the hell out of me.
You forget that Republicans live in an alternate universe where all of the good things that happen are attributable to Republicans and all of the bad things to Democrats. Really simplifies matters for them.
Marvelous timing !! This cannot be good for mittens to remind the red the blue and the purple of his disastrous presidency !
I actually was very impressed that Bush kept silent for 3.5 years. That was the one thing he did that I actually admired. I was taught as a child to find at least one redeeming quality about a person and think of that instead of the bad stuff. Oh, well guess that is gone now.
SHRUBPOCOLYPSE!
Bush sees the public opinion polls blaming him for the economy. He does not want to go down as the worst president since Herbert Hoover. But it is too late and all his efforts, as well as those who were in his administration, are not going to change his record. The economic collapse, two wars and a massive deficit are going to be what is written now and for the foreseeable future. The only thing that would make his record look good is another president with an even worse record. President Paul Ryan certainly looks like a good candidate for that position.
Whoever thought bringing Bush out to talk economics was in any way a good idea has just dealt a blow to the Republicans. The memory of the Bush Presidency, or as it's now known "The Dark Times", still hangs heavy over the minds of America, and indeed the world, and being publicly seen to agree with what he says on anything to do with policy and governance will only be a hindrance.
Yeah, I can't watch either, it took me this long to purge my anti-Bush *.jpgs and *.bmps from my Windows Wallpaper folder as it was finally safe to do so. Don't make me regret that decision now!
George W. Bush is perhaps the single greatest albatross tied to the neck of the Republican Party, dragging it down into oblivion and into the dark past. Even now, years after he mercifully left the White House, Americans continue to rightfully disparage Bush as the most hated ex-president and the man to blame for most of what ails America. Bush doesn't want his legacy to be the "Bush tax cuts" for the rich? Should have thought about that before he put presidential pen to paper on the biggest giveaway of taxpayer money in history. http://www.sunstateactivist.org