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Politics : View from the Center and Left
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To: JohnM who wrote (216317)2/7/2013 1:07:06 PM
From: Steve Lokness  Read Replies (2) of 541834
 
<<<<<No, it isn’t; we would have come into this crisis with very little debt if the GOP hadn’t always insisted on tax cuts.>>>>>

Oh man. While I agree with Krugman about Clintons fine job, once again he so waaaaaaaaaaaay oversimplifies the problem. It's just horse shit to boil this problem down to taxes. Clintons record was highly impacted by the "peace dividend' - and that completely went out the window with 9-11. Additionally, Krugman once again ignore the role of demographics. The baby boomers were in the window of their highest earning years during Clinton. Along with those high incomes came another dividend - short term bump in taxes even if the rates remained the same. Now of course we have just the exact opposite as millions of these high earners revert to retirees sipping single malt scotches on the golf course and paying way less taxes in their retirement. But lordy, those bubble booming scotch drinking golfers also need new knees and hips which has swelled the cost of their health care so the bubble here too has moved from the best of times during Clinton when they were all in their best health to their retirement years when they need more drugs and care to keep them going. Until Krugman addresses all the problems honestly, he is just fomenting more ideological fodder for those on the left.
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