| Lord N said: This is a common misconception. Soviet military spending did not increase at all during the Reagan era, and the Soviet Union would have collapsed just the same without it. On another note, it's true that the president has no control over the ups and downs of the business cycle, but there are things that he can do to mitigate economic downturn and set the way for recovery, and Bush has failed miserably in that regard. It certainly doesn't help that he decided to piss away the surplus on tax cuts for the rich, drag the US into a needless and counterproductive war which has cost hundreds of billions of dollars, or fund arcane and ridiculous projects with deficit spending instead of focusing money on areas where it would have helped the economy.
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I'm not defending Bush but ...
How many people here are employed by a poor person? The fact is that a reduction in corporate taxes creates jobs and is far better for "poor people" than a similar tax cut would be for them; beyond that corporations are not (really) owned by a bunch of "rich people" who own top-hats and monocles, they're owned by everyone who invests, or has a pension.
Bush's mistake was he produced tax-cuts while increasing spending, and thus ran up high deficits which devalues the dollar and creates (high) inflation.
