Steve Jenson's blog

Clinton on Bushs Tax Cuts

Clinton on Bushs Tax Cuts

From NPR: Clinton on the 2003 tax cuts.

"And to make matters worse, we gave half of the money to the top 1 percent and an extraordinary amount of the money to the other 200,000 americans like me who paid income taxes on over a million dollars last year and I just think it's wrong. I think it is so wrong. We've got national guardsman fighting over in iraq and the administration doesn't even want to make them eligible for military health care benefits if they're not covered by their own plans. We've increased the cost of veterans benefits at health centers by 500%. We've cut 300,000 kids out of health care programs and I've still got my tax cut? That's my sacrifice in the war on terror? I think it's bad ethics and terrible economics and it's something we're going to have to pay for a long time to come."


What I tried to do was to leave my generation, the baby boom generation, with the security of knowing that their children would not have to support them instead of their grandchildren. It was a huge economic gift to the next generation of Americans. Now we've thrown all of that away on what I consider to be highly self indulgent tax cuts for upper income people. I think it's selfish and I think it's wrong. [...] We should have targetted these tax cuts to middle class people and small business. They could have even been bigger. [...] I would liked to seen an exapnsion in earned income tax credit for lower income working people. They could have permanent. Most of this stuff is just wrong. It's bad economics. It's personally selfish for really wealthy people to have this kind of money. I know no pertinent millionaire in New York, and I know a lot of them, Republican and Democrat, who thinks this is right. I don't know anybody who thinks this is right.

# — 11 July, 2004