On the recordFebruary 5, 2007
Absolutely. And you talked about the size of the U.S. economy. Those tax cuts that we put in place from 2001 and 2003 that helped this economy move forward, the reason it happened is because those tax cuts put $1.1 trillion in the pockets of the American taxpayer, $1.1 trillion. And a lot of that money went into savings, but most of that money went back into this economy directly, into whether it was paying for your child's college education, whether it was to buy a washer and dryer, buy a new car, buy a house, remodel your house. I mean, there are hundreds of thousands of ways that people put that money back into the economy. And we did that by cutting taxes on every American that pays taxes. Some folks in this country were even taken off paying taxes. We lowered the rates so that there were many people that didn't have to pay taxes. And once again, when you put money back into people's pockets, what happens is the economy grows.
Source
govinfo.gov




