Former President George W. Bush admitted that he wished the Bush tax cuts had someone else's name attached to them. Bush said he does not miss his old He stated he does not miss his old job as Commander-in-Chief in a speech Tuesday at the New York Historical Society.
I wish they weren't called the Bush tax cuts. If they were called someone else's tax cuts, they'd be less likely to be raised, he said in introductory remarks at the George W. Bush Presidential Center's conference on 'Tax Policies For 4% Growth.'
Bush's solution to solve the country's economic woes would be to concentrate on private sector growth.
Much of the public debate is about our balance sheet...or entitlements, he said according to Forbes. The pie grows, the debt relative to the pie shrinks and with fiscal discipline you can solve your deficits.
In life, you're going to be dealt a hand you don't want to play, Bush said. The question is how are you going to play it?
He lamented that eliminating tax cuts for the wealthy, as the Democrats are in favor of doing, would hurt small businesses and hiring.
If you raise taxes on these so-called rich, you're really raising taxes on the job creators, he said according to CNN. And if the goal is to create private sector growth, you have to recognize that the best way is to leave capital in the treasuries of the job creators.
The speech comes while Obama is in Florida pitching tax fairness, which entails raising taxes for those who make more than $1 million a year. The Buffet Rule, named after billionaire investor Warren Buffet, would make people earning over $1 million in adjusted gross income pay at least 30 percent of taxes, reported ABC. Obama officials confirmed that the president will not extend the Bush tax cuts for the wealthy again when they expire later this year, though he did previously in 2010.
Bush said he rarely comments on Obama's policies because I don't think it's good for our country to undermine our president and I don't intend to do so, Forbes reported.
He admitted he doesn't miss his old job as POTUS.
I'm often asked 'Do you miss the presidency?' I really don't,' he said according to Politico. I have decided to stay out of the limelight. I had plenty of the limelight. I enjoyed it. It was unbelievably interesting experience.
Bush plans on releasing a book this summer that outlines an economic and tax policy that will yield a 4 percent growth in the economy. Twenty one economists have contributed to the book, including 5 Nobel Prize winners.
It's got to be a staggering thing for some of the cynics. I publish a book, and now the Bush Institute is publishing a book. They didn't think I could read, much less write a book, he said as the crowd erupted in laughter.