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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Nikole Wollerstein who wrote (64736)10/23/2006 10:20:45 PM
From: Les HRead Replies (1) of 306849
 
DOW up 77% three years after Clinton tax increase in 1993.
DOW up 53% three years after Bush tax increase in 1991.

It's absolutely worthless to talk about the effects of government policy on tax revenues, the economy, the markets, etc. without also acknowledging that spending and monetary stimulus plays as much or larger role. For example, the spending increases under Bush dwarf the effect of the tax cuts in 2001 and 2003. He's spending nearly 800 billion dollars a year more than at the bottom of the recession in 2002. The tax cuts amount to 180 billion dollars a year. A substantial part of the spending increase probably mitigates the lost revenue from the tax cuts because of the increase in consumption and resulting employment.
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