The economy rebounded better under Clinton without tax cuts and we started running a surplus. We had a near jobless recovery for almost 4 years and have deficits projected for as far as the eye can see. Where's the evidence Bush's plan resulted in any growth beyond the normal cycle? I think a lot of the the tax cuts to the wealthy were spent overseas to invest in foreign competition which is part of the reason we've had one of the worst job recoveries in history. If he had to cut taxes do to a real belief in their stimulous effects rather than a sop to supporters he should have done it at the low end where it was more likely to be spent in the US and where people were hurting more.
You can blame a lack of fiscal restraint rather than strictly budget cuts and you'd be right. Tax cuts with a large national debt are fiscally irresponsible. In the face of such feel good benefit my constituant policies why should anyone else show restraint on their priorities? Bush's irresponsible fiscal policy opened the dam that political stalemate had put against irresponsible spending during Clinton's terms.
Regards,
Mark
Current Events » in reply to Tax rate reductions spurring the economy and resulting in higher revenues is nothing new
History Reminder
The whole thread (37 posts)
- More economics
- Some Real Comparisons
- So Only Independents Can Read Graphs?
- I never say "me too". You were doing a good job and I had nothing to add.
- Okay, let's simplify:
- re: Some Real Comparisons
- So Only Independents Can Read Graphs?
- What BS
- War and deficit spending have been the last refuge of desperate politicians stimulating an economy. (n/t)
- Tax rate reductions spurring the economy and resulting in higher revenues is nothing new
- Some Real Comparisons