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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (8650)	5/17/2006 9:22:53 PM
From: TopCat	Read Replies (1) \| Respond to of 71588

"Clinton raised taxes and gave us a near perfect sustainable economy..." If it was so sustainable, why did we start into a recession during his tenure?

To: American Spirit who wrote (8650)	5/17/2006 9:27:23 PM
From: TimF	Read Replies (1) \| Respond to of 71588

Clinton didn't give us a good economy, a fairly good economy happened while Clinton was president. Also the tax increase under Clinton, while not a good thing, increased marginal rates much less than FDR's tax increases. 90% taxes are stupid. They don't even maximize federal income tax revenue. Lower taxes will bring in more revenue to the government. 90% taxes suppress economic activity and drive at least some of what's left to black markers and tax avoidance and evasion schemes. Even Reagan raised taxes, but called them fees. He raised incomes tax rates as well. But his decreases where larger. The net effect was he decreased taxes. Without money our government collapses and then the markets collapse after that. Very high tax rates (like FDRs) do not maximize government tax revenue. Lower tax rates that are still high might, at least in the short run maximize revenue, but they depress economic activity. Not that borrowing is good, when the government borrows a lot it is also taking money out of the economy. The best bet is to control spending. Here is one of the few areas where I would agree with you - Bush has done a lousy job of controlling spending.