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Politics : Formerly About Advanced Micro Devices

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To: i-node who wrote (530514)	11/19/2009 1:42:21 PM
From: RetiredNow	1 Recommendation Read Replies (2) of 1574854

ok, i-node, now that you've put down your opinions, here's a factcheck from factcheck.org. It shows that the best economic times and the best fiscal discipline we had came after tax increases: factcheck.org A tax increase in 1942 boosted federal revenues by 71%, for example, as the US geared up for war after the Japanese attack on Pearl Harbor. Measured in inflation-adjusted 1992 dollars, Roosevelt's wartime increase amounted to $73 billion a year, while Clinton's increase averaged $35 billion a year (average for the first two years.)... In the period since 1968, the study said, "the Tax Equity and Fiscal Responsibility Act of 1982 was the biggest increase." That was the tax increase signed by Ronald Reagan, rescinding some of the effects of his huge tax cut passed the year before. That 1982 tax increase only slightly exceeded Clinton's in inflation-adjusted dollars ($37 billion a year vs.. $32 billion) but it was much bigger in relation to the size of the economy. The '82 increase amounted to 0.8% of GDP (average for the first two years) while Clinton's was 0.5%.

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