General Discussion

Quixote1818

(28,960 posts) Tue Dec 19, 2017, 11:48 PM Dec 2017

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

6 replies

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Architect of Reagan's tax cuts reminds us that tax cuts don't stimulate the economy (Original Post) Quixote1818 Dec 2017 OP

Dems clean up and try to fix the GOP messes BigmanPigman Dec 2017 #1

+1 moondust Dec 2017 #4

I know...Clinton left office and the govt BigmanPigman Dec 2017 #5

As som3one else said, pangaia Dec 2017 #2

Agree. And the thing is the wealthy still do great when their taxes go up because the economy Quixote1818 Dec 2017 #3

They help during recessions Cicada Dec 2017 #6

BigmanPigman

(51,626 posts)

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

Reply to Quixote1818 (Original post)

Wed Dec 20, 2017, 12:01 AM

Dec 2017

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.

moondust

(20,002 posts)

4. +1

Reply to BigmanPigman (Reply #1)

Wed Dec 20, 2017, 02:11 AM

Dec 2017

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.

BigmanPigman

(51,626 posts)

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

Reply to moondust (Reply #4)

Wed Dec 20, 2017, 02:42 AM

Dec 2017

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).

pangaia

(24,324 posts)

2. As som3one else said,

Reply to Quixote1818 (Original post)

Wed Dec 20, 2017, 12:14 AM

Dec 2017

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

Oh wait, that was 1/2 me

Quixote1818

(28,960 posts)

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

Reply to pangaia (Reply #2)

Wed Dec 20, 2017, 12:21 AM

Dec 2017

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

Cicada

(4,533 posts)

6. They help during recessions

Reply to Quixote1818 (Original post)

Wed Dec 20, 2017, 03:10 AM

Dec 2017

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

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