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dee
Lv 4
dee asked in Politics & GovernmentPolitics · 9 years ago

Did the Bush Tax Cuts contribute to the Economic MeltDown in 2008?

4 Answers

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  • Elana
    Lv 7
    9 years ago
    Favorite Answer

    Not particularly.

    They did, however, contribute to the immense deficit the government is experiencing now.

    Where the two come together is people deciding that now is a bad time for the government to be spending money trying to pump up the economy because it is in debt. If the government had lots of money, it would be easier to push programs through Congress to employ Americans with infrastructure jobs (building roads, paying teachers).

    However, as it is, Conservatives say that with no money, the government should be spending as little as possible. Of course they also say we should be reducing taxes which reduces income to the government which increases the deficit ...

  • Mike W
    Lv 7
    9 years ago

    Tax played no part in that. People taking out ill-advised mortgages in huge numbers did that, lenders bundling those bad mortgages and selling them as securities also played a large part in that.

  • 9 years ago

    That, the two unpaid wars, increased spending, etc the list goes on

  • Anonymous
    9 years ago

    folks who didn't pay their mortgages did that..........

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