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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (525668)	11/3/2009 4:47:57 PM
From: Alighieri	Read Replies (2) of 1577119

Which tax cut, what year, created the surplus (as reported by Greenspan)? A small tax cut consisting primarily of a reduction in the cap gain rate from 28 to 20% was passed in 1997 and a few other odds and ends not adding to a hill of beans dollar wise...of course the period following the 1993 far more substantial tax increases (that according to the GOP were going to put us on path to catastrophe) saw steady economic expansion. As we now know, in 2000, a mere three years after the tax "cut" the country was sliding into a recession and another tax cut was passed by bush, and of course 7 years after that the country went nearly into a depression...and the rest is history. If you are to believe these guys, and according to this cause and effect behavior, we need to be in a perpetual mode of cutting taxes (without consideration to spending ever given)...because you know, tax cuts increase revenue. It's half an argument they use to win elections with gullible (and greedy) electorates. It was the steady expansion of the economy and tight spending by Clinton that took us to where bush picked up (and dropped) the ball. Al

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