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Politics : Formerly About Advanced Micro Devices
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To: Alighieri who wrote (517368)9/30/2009 2:41:51 PM
From: i-node  Read Replies (2) of 1579022
 
>> there is no data that supports your point

WHAT?

JFK cut taxes. Collections soared. Reagan cut taxes. Collections soared. Clinton cut taxes in the late 90s. Collections soared. GWB cut taxes, collections soared.

Why do you think Europe is cutting the hell out of taxes now?

Most of the world, other than the US, has figured out that cutting taxes is the best way to increase tax collections.

Is there a point below which tax cuts will not cause increased collections? Of course. But we're nowhere near that point.

Tax cuts in this country have been a rarity, but when they happen, tax collections almost always increase.

>> When Clinton raised taxes in 93 conservatives told us that the economy would collapse.

This is a really weak argument to anyone who has looked at the actual data. I don't remember the argument that the economy would collapse, but it is possible. Laffer was one of Clinton's biggest supporters.

But the Clinton economy of the early 90s was depressed by the tax increases. It wasn't until the cuts later on that the economy took off. The early 90s economy was strong as an ox. It has been estimated that the early 90s tax increases cost the economy 1 point of annual growth.

It is no coincidence that the real economic surge happened AFTER the later cuts.
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