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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (218215)	2/13/2007 3:46:10 PM
From: Katelew	Read Replies (1) \| Respond to of 281500

I was in a high tax bracket during Reagan years and I know that I didn't get a tax break. Too many of my previous exemptions were disallowed under Reagan. My personal returns were a wash....I didn't pay more and I didn't pay less. I also got hit with the AMT on one of my CHILDREN'S college savings accounts!!!! It had particularly high market gains one year. YOU don't understand economics or historical fiscal policy in this country. Ponder this, Michael. Federal taxes, historically speaking, have run right at 19% of GDP....year in and year out.....regardless of the prevailing tax policies. Taxes get raised.....taxes get cut.....still 19% of GDP. So that alone tells you that historical tax policies are generally just a re-arranging of the chairs. This group pays a little. more....this group pays a little less, etc, etc. This was true until the Bushies, however. Tax revenues have been running about 18.4% under Bush, which translates to pretty significant dollar amounts. See Bernanke's recent warning on the whole thing, esp. his conclusions. federalreserve.gov

To: michael97123 who wrote (218215)	2/13/2007 4:22:12 PM
From: jttmab	Read Replies (3) \| Respond to of 281500

You dont have a clue regarding economics, do you? No matter what the empirical evidence particularly regarding the positive effects of tax cuts, you continue your anti-reagan rant like all the unreconstructed socialist do-gooders among us. Reagan wasnt perfect but man you must have missed the 80s altogether or had a fling with Jimmy Carter perhaps. I suppose people are arguing different points and I won't speak for them. My argument is that Reaganomics never happened. It's a wet dream. Taxes were raised for 6 consecutive years. Federal spending went up. Just because Reagan claimed he was going to shut down the Dept of Education doesn't mean he really did. You can "blame" Congress for spending [they authorize, they don't spend]. You can blame Congress for the tax increases but at the end of the day, Reagan signed off every tax increase and every appropriations bill and Reaganomics never happened. It didn't fail, it didn't succeed, it just never happened. If I were you I wouldn't even think about "blaming" Congress for the tax increases and federal budget spending. Those are the only two things about the Federal government that effect the economy. If you give those two items to Congress, what does that leave Reagan with? Speeches. jttmab