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Politics : PRESIDENT GEORGE W. BUSH
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To: Kenneth E. Phillipps who wrote (610322)8/25/2004 1:59:29 PM
From: michael97123  Read Replies (1) of 769670
 
"Clinton passed the largest tax increase in history and then, we had a budget surplus. Remember?"

Yes a different time--you need to slurp up unwanted liquidity. Folks were making so much money in the boom that they didnt care. So those high taxes served a purpose i guess but but they became structural and 41% high brackets and double taxation of anything sucks for a struggling economy. Next time when taxes are used to slop up excess liquidity they should be temp surcharges and not part of the code. mike
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