5 Talking Points About the Bush Tax Cuts

Slate's Daniel Gross has your fall weekend talking points about the Bush tax cuts. If you don't have time to learn them all, just print out number four and hand it out to friends at cocktail parties:

4) ... The people who designed the current, unsustainable tax system promised us that lower marginal rates, and lower taxes on capital and dividends, would boost the economy, promote investment, create jobs, spur market performance, and raise everybody's income. They were wrong. (It's no coincidence that these same people also warned us that raising taxes in 1993 would kill market returns and the economy. They were wrong then, too. They're pretty much always wrong.) As I've pointed out, the years under the current tax regime have been a lost decade. Pick your metric--median income, employment, stock market returns, economic growth--the low-tax '00s sucked. Yet proponents of keeping the tax cuts persist in making the argument: To avoid a repeat of the past decade, we must have the exact same tax policies as we did for the past decade.

This seems to pin the recession on tax rates a bit more than I think is right, but it's a fine polemical argument, nonetheless.

Read the full story at Slate.

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Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

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