Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (530913)	11/20/2009 12:24:12 AM
From: i-node	1 Recommendation of 1577390

MM says -- In the period since 1968, the study said, "the Tax Equity and Fiscal Responsibility Act of 1982 was the biggest increase." But, Tim says -- OK it was a big tax increase, but it was preceded by a bigger tax cut. Tim's right. TEFRA (1982) increased taxes an average of 1% of GDP over four years. ERTA (the 1981 act), cut taxes an average of 2.9% of GDP over four years. So, TEFRA took back only a small portion (about 1/3) of the ERTA cuts. Also, while the ERTA average for 4 years was 2.9 percentage points, over the 4 year period it increased from 1.2% to about 4.2%, so in the 4th year, the ERTA cuts outweighed TEFRA by about 4:1.

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