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Politics : Clinton's Scandals: Is this corruption the worst ever?
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To: Doughboy who wrote (3087)8/25/1998 12:16:00 PM
From: Zoltan!  Read Replies (1) of 13994
 
>>But my analysis holds; it was the tax increase that started the deficit going down and the tax increase did not throw the economy into recession as many Republicans warned.

True enough, the tax increase did not abort the recovery, but it did restrain it and consequently it restrained government revenues from what they would have been. The best analysis of that tax increase is that the middle class paid more while "the rich" did what they always do in response to such schemes, they redeployed $$$ into less productive "tax-free" investments, or just deferred income and taxes.

Consequently that tax increase is not responsible for anything more than a small part of the deficit reduction, rather it has been a combination of economic growth (which Clinton slowed) and budgetary restraint that has closed the gap. Most of the restraint has come from the decrease in Defense spending that is now possible with the end of the Cold War (the "Reagan Peace Dividend").

Perversely, the ending of the Cold War is also blamed by many commentators for the tolerance of a less than serious person, Clinton, as President by the American people.

That will end when the people see just a sample of how debased and disgusting Clinton is.
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