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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: Steve Dietrich who wrote (113943)1/29/2008 8:15:53 PM
From: Brumar89  Read Replies (2) of 173976
 
How will raising taxes make the GDP grow faster?

Clinton raised taxes to start his presidency and GDP growth was strong (stronger than Reagan) Revenue growth was strong (stronger than Regan). The deficit came down and the S&P grew faster under Clinton than any President in the previous 50 years.

To pretend that these performances are driven my marginal tax rates being cut or raised by a couple percentage points is just silly.


To pretend that raising marginal tax rates creates economic growth is beyond silly, I think.

Clinton raised taxes (and not just marginal income tax rates - he raised gasoline taxes and raised taxes on social security recipients too) very early in his eight year reign (despite promising a "middle class tax cut" in his '92 campaign) and economic growth was strongest toward the end of his Presidency. I have a hard time believing the tax increase created the GDP growth later in his Presidency.

BTW Clinton later said he raised taxes "too much."
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