June 7, 2011; Source: Salon.com | Next time you hear arguments for tax cuts for the rich and for Wall Street corporations that purportedly stimulate the economy, consider the facts as laid out by Joan Walsh on Salon.com regarding the 10th anniversary of the Bush tax cuts:
Under the Bush-Cheney administration, the U.S. saw a series of historic economic lows, and overall, the slowest overall rate of economic growth since World War II. Household income declined for the first time since the Census Bureau tracked that data in 1967. Labor force participation had reached an all-time high in 2000, but dropped steadily under Bush; relatedly, the economy created fewer jobs than at any time since World War II.
She goes on to say that the Obama administration has created more private sector jobs in the last two years than were created under two terms of the Bush administration. Of course Obama did preside over the extension of these very same tax cuts in 2010 so there is plenty of blame to go around.
NPQ has been following a slow rolling out of nonprofit protests regarding tax breaks for Wall Street. The latest group speaking out about the need to levy higher taxes on Wall Street is the 175,000 -member National Nurses United, which convened a rally in front of the White House yesterday. Can our sector – or a good part of it – get behind a fair tax policy?—Ruth McCambridge