Obama is giving the speech liberals have begged him to give for four years.

[hfojvt]

76. admittedly, it has been almost a quarter century

since I studied Keynes in graduate school.

And as a young socialist, I did not put a lot of stock in Keynes anyway.

But wiki makes no mention of tax cuts as fiscal policy http://en.wikipedia.org/wiki/Keynesian_economics#Active_fiscal_policy

you know who consistently argued that tax cuts stimulate the economy?

George W. Bush

"My tax relief plan is a fair one, lowering the rate for all taxpayers. The typical family of four with two children will get $1,600 in tax relief. And the greatest benefits, the largest percentage reductions, will go to those who need them most. My plan is pro-growth. It gives our economy a jump-start by leaving more money in the hands of those who have earned it." Feb 17, 2001

"The tax relief is for everyone who pays income taxes -- and it will help our economy immediately: 92 million Americans will keep, this year, an average of almost $1,000 more of their own money. A family of four with an income of $40,000 would see their federal income taxes fall from $1,178 to $45 per year. (Applause.) Our plan will improve the bottom line for more than 23 million small businesses." Jan. 28, 2003

"We need tax relief that creates the greatest number of jobs. (Applause.) The goal is to create a million new jobs by the end of next year. I've submitted a good, strong plan that will help meet that goal. The United States Congress must not only listen to your voice, but must listen to the voice of somebody looking for work. We need aggressive action out of the United States Congress now." May 6, 2003


Who also kept saying that his tax cuts favored the middle class?

George W. Bush

"The President's tax plan provides relief for every income taxpayer; however, it gives the lowest income families the greatest percentage reduction. Indeed, higher income individuals will pay a higher share of income taxes after this plan takes effect. (See Chart 2–2.)" Feb. 28, 2001

Just like Obama, they NEVER publicly admit that their tax cuts favor the rich.

"My plan dramatically reduces the marginal rate on many low-income earners, rewarding overtime or a hard-won raise, encouraging Americans on their path to the middle class." Feb 8, 2001

"When you hear the debate about this kind of class warfare, rhetoric about, oh, this is for the rich, only for the rich -- I want you to think about the Joe Kempers of the world. I certainly will. A fellow who worked for our government, and now a fellow who we trust with that $3,500, because it's his money. And when he invests it, it's going to have a positive effect. All the Joe Kempers of the world taking that extra money and investing it will mean somebody else is likely to find a job, and that's important for our fellow Americans to understand." Feb 12, 2003

"Oh, you'll hear the talk about how this plan only helps the rich people. That's just typical Washington, D.C. political rhetoric, is what that is. That's just empty rhetoric. This plan for a family of four making $40,000 a year would see their tax bill go from $1,178 a year, to $45 a year." May 12, 2003


Oh, and when Obama made most of the Bush tax cuts permanent, doing so massively favored the wealthy, as I have mentioned before. http://www.democraticunderground.com/10022130101