The Bush Tax Cuts' 10th Anniversary Not Worth Celebrating

Service Employees International Union (SEIU) President Mary Kay Henry issued the following statement on the 10-year anniversary of the Bush tax giveaways to the rich:

"Ten years ago, President George W. Bush signed into law massive tax giveaways for millionaires who popped champagne corks across the country to celebrate their new windfall. The fallout left our country with a severe economic hangover and stuck middle class families with the bill.

"There is little evidence that the Bush tax cuts did anything to stimulate our economy other than to line the pockets of millionaires and billionaires. However, there is ample evidence that these irresponsible tax giveaways contributed to the growth of the deficit and made recovery from the Great Recession even harder for working families.

"Congress needs to show some political maturity in the debate on the debt ceiling and on the budget and put revenue on the table along with sensible spending cuts. The Bush tax giveaways for billionaires, who should be giving to charity instead of getting it, should not be extended. We simply cannot afford them.

"It is time we had a tax code that is fair to people who work for a living. Let's stop giving special tax giveaways to millionaires who don't need them. We need our leaders to bring private and public sectors together to fix our nation's infrastructure so we can regain our competitiveness. Let's get to work investing in the future by investing in our school, not gutting their budgets and demonizing our teachers. Let's strengthen the middle class by creating good jobs that can support a family and come with real benefits like a pension.

"If Congress musters the political will to focus on the long-term health of our economy, we can restore fairness to our tax system. That will be an achievement we can all celebrate."