"The Path to Prosperity?: Bush Era Tax Cuts Give USA Slow Growth Despite Big Tax Breaks."
Everyone,as John Adams once said, is entitled to their own opinion, but not their own facts. Here Jeff Medrick, from The New York Review of Books blog site, shows how Congressman Paul Ryan's plans to cut taxes for those making or receiving the top two percent of national income is nothing a digital age version of 1920's style income inequality.
Take it away, Jeff:
"Since the bottom of the 2001 recession to the top of the expansion in 2007—before the credit crisis and Great Recession!—GDP discounted for inflation grew more slowly than during any expansion in post-World War II history. Job growth was even worse, way behind any expansion in the last 65 years. Below are the data, prepared by the Economic Cycle Research Institute."