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Politics : View from the Center and Left

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To: slacker711 who wrote (132912)	3/12/2010 10:25:33 AM
From: Sam	Read Replies (1) of 541060

If you look at the economy more broadly, I'll take the dynamism of the late 80's over the late 70's....and I think deregulation, changes to the tax code, and a loss of power by the unions all played a role. The rise in the price of oil had a lot to do with the fall in economic activity in the 70s. It took a few years for companies to adjust to it, and then after 1984 or 1985, there was an extra boost from the fall in energy costs. Sure, changes to tax code was economically beneficial in the short run, but those changes didn't have to be so drastic as to wreck the budget. The economy still did well when taxes were raised after 1985.

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