Factory Bush Touted Closes; 1,300 Ohioans Jobless

From:http://www.misleader.org/daily_mislead/Read.asp?fn=df05182004.html

May 18, 2004

Last April, President Bush visited a Timken Company manufacturing plant in Ohio to press for passage of new tax cuts that he said would spur the economy. During the speech Bush said that "the future of this company is bright and therefore, the future of employment is bright for the families that work here"1. Less than a year after the tax cuts for the wealthy passed, that same factory is shutting down -- putting about 1,300 people out of work2 and inflicting a "devastating" blow to the Canton community3. With the White House pushing even more tax cuts for the wealthy4 and supporting outsourcing of American jobs5, Ohio has lost more than 200,000 manufacturing jobs since President Bush took office6.

Of course, one person who will not be feeling the pain of the President's economic policies is W.R. "Tim" Timken - a top Bush fundraiser and the man who decided to shut down the factory. Having earned more than $2.6 million last year, Timken stands to receive $59,000 in new tax breaks from President Bush this year7 - Timken also happens to have raised $600,000 for the President in one night8. By contrast, 89% of Ohio residents will receive less than $100 by 2006 from the latest Bush tax cuts9.

Sources:
President Discusses Plan for Economic Growth in Ohio, 04/24/2003.
"Timken to close Ohio factory", Pittsburgh Business Times, 05/17/2004.
"Timken Layoffs Potentially Devastating For Canton", NewsNet5.com, 05/16/2004.
"Bush seeks to make tax cuts permanent", Washington Times, 09/05/2003.
"Bush Econ Advisor: Outsourcing OK", CBS News, 02/13/2004.
"BUSH STUMPS IN OHIO, DEFENDS JOBS RECORD", 05/04/2004.
Citizens for Tax Justice, Fall 2003.
Campaign Money Watch.
Citizens for Tax Justice Brief.