Congress will be voting on the so-called Buffett Rule this week and so President Obama took the opportunity to focus on his support of this tax bill during his weekly address. During his speech, President Obama reflected on the job growth in the 1990s despite an increase in taxes for the wealthiest Americans and then compared it to the lack of job growth after the so-called Bush tax cuts were implemented.
“But the thing is, for most Americans like me, tax rates are near their lowest point in 50 years. In 2001 and 2003, the wealthiest Americans received two huge new tax cuts. We were told these tax cuts would lead to faster job growth. Instead, we got the slowest job growth in half a century, and the typical American family actually saw its income fall.”
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