Today marks 11 years since the Bush tax breaks for the rich were enacted. President George W. Bush signed the Economic Growth and Tax Relief Reconciliation Act on June 7, 2001.
Bush claimed (as right-wingers always do) that tax breaks for the rich would create jobs in the private sector. Well, they haven’t. There were 110 million private sector jobs in America in 2001. There are 110 million private sector jobs in America today. Despite a population increase of more than 25 million, there are no more private sector jobs today than when the Bush tax breaks for the rich became law.
In the past 11 years, the number of Americans living in poverty has increased from 33 million to 44 million. The number of Americans receiving food stamps has risen from 18 million to 46 million. “Trickle-down” has not even been a trickle."