Hoyer: Republicans Were ‘Absolutely Dead Flat Wrong’ On Taxes In The ’90s — And They’re Still Wrong

[SunsetDreams]

Very frankly, history shows that to be a fallacious argument. That was the argument they made in 1993 — that we were going to destroy the economy; that deficits were going to explode; that unemployment would skyrocket, and that the stock market would tank.

That’s the argument that [Dick] Armey made. That’s the argument that [Newt] Gingrich made. That’s the argument that [Tom] Delay made. That’s the argument that every one of their people made. Every one of them. To a person. Unanimously.

They were dead flat wrong.

Exactly the opposite happened. The stock market went up 226 percent; we balanced the budget for 4 years in a row; we didn’t borrow an additional dime; we didn’t increase the debt. In the last 4 years of the Clinton administration we ended up with a $62.9 billion surplus — the only administration in your lifetime … that ended up with a surplus.


They were absolutely dead flat wrong. They continue, however, unabashedly, and undeterred, in making an argument which has proven to be dead flat wrong.

http://tpmdc.talkingpointsmemo.com/2012/07/steny-hoyer-republicans-taxes-clinton-absolutely-dead-flat-wrong.php?ref=fpb

[badtoworse]

1. So we should be fine if we just let the BTC's expire, no?

[SunsetDreams]

2. Here is what Hoyer said about that

Hoyer Backs Obama Tax Cut Plan

“I do support the President’s level. But a million dollars will be I think a metaphor for Republicans who will not support increasing revenues on any persons in America, no matter how much they make,” Hoyer told an audience at the liberal Center for American Progress. “But I think the President’s correct – $250,000. Clearly we want to make sure that working Americans, middle-income Americans, continue to have the ability to purchase goods.”

http://livewire.talkingpointsmemo.com/entries/hoyer-backs-obama-tax-cut-plan