President Barack Obama Message Board

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Politics : President Barack Obama

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To: Wharf Rat who wrote (146639)	10/30/2014 10:01:15 PM
From: pcstel	Read Replies (1) of 149317

<"it was due to faster than expected growth"< Nope.. It was due to the explosion in Tax Receipts from Capital Gains taxes during the Dot Com Boom.. As soon as the Boom was over, we went right back into deficits. GDP was running at a annual rate of 6.6% when Clinton took office. GDP remained in this area, through the end of his term.. In 2007, 2008, 2009 GDP was 6.05, 6,11, 6.44 respectively, which were below the 6.6% figure of 1992. multpl.com <Growth is always faster than expected after tax increases< Nope.. Wrong again.. Check the horrible inflation, unemployment, etc coming out of the Carter years. Reagan took a hatchet to the tax rates and the economy took off into one of the greatest economic boom periods in history. You can't re-write history.. Just because you don't like it. forbes.com PCSTEL

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