There was a great article in the Washington Post the real reason for the Bush Tax cuts was Republicans were afraid the Deficits would disappear.
In 2000, we had Budget Surpluses as far as the eye could see in this crazy 10 year Budget projection. Alan Greenspan did what I considered was unforgiveable. He testified before Congress, “…At zero debt, the continuing unified budget surpluses currently projected imply a major accumulation of private assets by the federal government,”.
In other words, the US Government could not buy any more Treasury Notes. They would have to invest in Private Securities (Stocks, Bonds) or Foreign Notes. Greenspan gave Republicans cover to enact this piecemeal bundle of taxes by indicating this was a good idea. He had all sorts of caveats but being a political Republican he knew this would give Republicans like the hypocrites Mitch McConnell and John Boehner cover to vote for the Bush Tax cuts. What resulted were permanent Deficits.
Now these same Republicans look as the Bush Tax Cuts like the 10 Commandments given to Moses by God. Can you tell I’m pissed? Alan Greenspan, W and Congressional Republicans… We would be better off if we skipped the whole Bush Administration No short term deficit problems… God they are supreme hypocrites.