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Tue Dec 19, 2017, 11:48 PM

Architect of Reagan's tax cuts reminds us that tax cuts don't stimulate the economy


Snip>

the "prosperity" of the 1980s is grossly overstated (GDP growth in the 1980s was weaker than in the 1970s); that the Reagan years ended with a series of unprecedented market crashes and a deep recession; that Clinton's tax increases ended the recession; that GWB enacted near-annual cuts that coincided with collapsing GDP growth and federal revenues (and that growth returned when Obama allowed the Bush cuts to start expiring) and so on.

More: https://boingboing.net/2017/09/29/we-get-fooled-again-again-agai.html

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Reply Architect of Reagan's tax cuts reminds us that tax cuts don't stimulate the economy (Original post)
Quixote1818 Dec 2017 OP
BigmanPigman Dec 2017 #1
moondust Dec 2017 #4
BigmanPigman Dec 2017 #5
pangaia Dec 2017 #2
Quixote1818 Dec 2017 #3
Cicada Dec 2017 #6

Response to Quixote1818 (Original post)

Wed Dec 20, 2017, 12:01 AM

1. Dems clean up and try to fix the GOP messes

all the time. Clinton and Obama did it and what did they get in return? A "Thank you"? NOPE! Recognition for saving the economy from collapse? NOPE! The GOP has become and remains the most greedy, sociopath, hypocritical party since 1980 with fucking Reagun.

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Response to BigmanPigman (Reply #1)

Wed Dec 20, 2017, 02:11 AM

4. +1

Bill Clinton's fiscal discipline on cleaning up the Reagan/Bush deficits led to surpluses that might have paid off the national debt by 2015 if GWB and Cheney hadn't come along and blown it to smithereens on reckless tax cuts and endless wars.

http://money.cnn.com/1999/06/28/economy/clinton/

Sick.

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Response to moondust (Reply #4)

Wed Dec 20, 2017, 02:42 AM

5. I know...Clinton left office and the govt

was in "the black"...a surplus! Americans never seem to remember these unimportant, little facts and the Dems are always on the defensive somehow. We had better elect some Dems who know how to bring a gun to a gunfight, not like the regular Dem snowflakes who usually arm themselves with "butterknives". We need to play by the GOP DIRTY TRICKS playbook sometimes. I personally would like to win a popular vote and see that winner become the REAL POTUS. Indivisible is using the GOP Tea Party/Freedom Caucus guide to get the Dem grassroots active locally and if that continues we may have a chance in 2018 (that is if we can survive another year of this shit storm).

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Response to Quixote1818 (Original post)

Wed Dec 20, 2017, 12:14 AM

2. As som3one else said,

One would think the dems would be running ads about all of this, wouldn't one...

Oh wait, that was 1/2 me

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Response to pangaia (Reply #2)

Wed Dec 20, 2017, 12:21 AM

3. Agree. And the thing is the wealthy still do great when their taxes go up because the economy

does better.

Snip: The top 1 percent of earners managed to increase their share of the nation's income at about the same pace after their taxes were raised as they had before, according to the study , released Thursday by Emmanuel Saez, an economics professor at University of California at Berkeley.



http://www.chicagotribune.com/business/ct-obama-tax-hikes-study-20161104-story.html

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Response to Quixote1818 (Original post)

Wed Dec 20, 2017, 03:10 AM

6. They help during recessions

Those recession cuts could have a trigger to die once the recession is over.

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