SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : American Presidential Politics and foreign affairs
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: DuckTapeSunroof who wrote (44698)8/17/2010 7:35:30 PM
From: TimF  Read Replies (1) of 71588
 
When Republicans took control of government in 2001, their top priority was reducing tax rates on high income earners.

False. - Reducing taxes generally.

Now, ten years later -- and what a decade of bountiful economic growth we've enjoyed with the energies of investors and entrepreneurs finally unleashed from restrictive Clinton-era tax rates!

1 - Until the financial crisis and recession (which essentially has nothing to do with the tax cuts) we did have decent growth.

2 - We had higher growth that we would have had with higher tax rates. Tax rates are of course not the only factor. All the spending by Bush and the Republican congress pushed up deficits, requiring borrowing which had a negative effect. Then the spending increases where accelerated by the new Democratic congress. Also other areas where more negative.

But raising taxes on the rich is wildly popular.

Pretty much false. Its not very unpopular, but its not widely popular, esp. in the context of a recession.

The truth is that neither party cares very much about the portion of the Bush tax cuts that benefit the middle class.

False. Most Republicans and many Democrats do care about avoiding a tax increase on the middle class.

but the central Republican goal is to minimize the progressivity of the tax code.

False - Not that the party tends to be big fans of highly progressive taxes, but minimizing the progressivity of taxes is not something most Republicans even think about much, certainly not the central goal of the party.

That dark orange stripe is the portion of the deficit attributable to the Bush tax cuts.

I don't see any stripe (even after following the link), but an overwhelming majority of the deficit is properly attributable to rising spending.

In a sense over 100% of it is since spending increased more than the amount of the deficit.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News