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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (16833)4/9/2008 9:11:02 AM
From: michael97123  Read Replies (1) | Respond to of 149317
 
so you think the tax increase itself caused the economy to boom?
Thats ridiculous. The preconditions for boom were all in place post early 90s recession. I dont have a clear memory of when recession ended and when tax increase took place but i bet at worse we were already clearly coming out of it.
BTW if we indexed wages for inflation we wouldnt be going back to 39.6% for the exact same wage amount as in 93. If the 39.6 bracket started at X back then, it should start at 1.5X given inflation.



To: Kenneth E. Phillipps who wrote (16833)4/9/2008 10:09:26 PM
From: RetiredNow  Read Replies (2) | Respond to of 149317
 
BINGO. Bush Sr increased taxes despite saying, "Read my lips. No new taxes."

So why did he do that? Because Bush Sr was a true patriot. He looked around and realized the budget needed to be balanced and he did what needed doing. This group of morons lead by Junior thinks that the solution to every problem is to cut taxes, even if that means handing the country over to the Chinese.


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