Retrieved December 17, - via National Archives.

They were supposed to expire at the end of

Oct 23, Policymakers enacted the 20tax cuts with the promise that they would “pay for themselves” by delivering increased economic growth, which would generate higher tax revenues. But even President Bush’s Treasury Department estimated that under the most optimistic scenario, the tax cuts would at best pay for less than 10 percent of their long-term cost with increased stumpcleanup.barted Reading Time: 11 mins.

He went on to compare an economist who says that tax cuts can pay for themselves to a “snake oil salesman trying to sell a miracle cure.” Commenting on President Bush’s claim that tax cuts pay for themselves, the Economist magazine recently wrote, “Even by the standards of political boosterism, this is extraordinary. No serious economist believes Mr. Bush’s tax cuts will pay for themselves.”.

Feb 28, Research shows no evidence that tax cuts have any impact on the spending habits of upper-income taxpayers. 21  The Bush tax cuts would only increase growth enough to make up 10% of their long-run cost. 20  In addition, maintaining the cuts has been estimated to costtrillion from to 22 .

Main article: United States fiscal cliff.

Aug 05, The numbers are in and the Bush tax cuts did not pay for themselves in any way, shape or form. In a letter to House Budget Committee Chairman John Spratt, D-S.C., Peter Orszag.