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Non-Tech : Kirk's Market Thoughts
COHR 166.69+7.9%3:59 PM EST
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To: TigerPaw who wrote (20090)8/25/2024 10:10:53 AM
From: Kirk ©  Read Replies (1) of 26448
 
During the Clinton era we saw tech stocks soar, partly due to the Reagan Peace Dividend where we got a return on investment made during the cold war that we won by outspending the USSR. They went bankrupt while we cut spending to allow our deficits to recover. Democrats and Republicans can take credit for that.

Clinton reduced the capital gains tax rate significantly and cut taxes on businesses. Of course, when you tax something less it thrives.
Furthermore, he signed legislation that increased the tax deduction for self-employed business owners from 30% to 80% by 1997. The Taxpayer Relief Act reduced some federal taxes. The 28% rate for capital gains was lowered to 20%. The 15% rate was lowered to 10%.
I blame the housing shortage in the Bay Area partly on Clinton as inflation has soared and housing prices are up maybe 8x but our deduction has stayed at $250K ($500K if married) so very few people are selling their large homes after kids leave or they get too old to care for them. We have TONS of AARP aged seniors aging in place because if we sell our large homes then pay the huge capital gains taxes due, we'd not have enough money left over AFTER TAXES to buy a condo in the same neighborhood.

You should not have to pay a tax on a home you live in when selling to move if you buy another. There should be indexing to inflation so when the government causes massive inflation, homeowners don't suffer with extraordinary high taxes. Clinton is a genius and he at the time knew that by not indexing this to inflation he'd increase taxes on the high-priced coastal states.

The ONLY time we had a surplus since 1966 was when outlays fell. Lying people like to credit Clinton policies for the surplus, but this chart clearly just shows he benefited from a trend started after the USSR went bankrupt and we cut spending on the cold war.

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