Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Clinton's Scandals: Is this corruption the worst ever? -- Ignore unavailable to you. Want to Upgrade?

To: j_b who wrote (3061)	8/25/1998 10:52:00 AM
From: alan w	Read Replies (1) \| Respond to of 13994

I believe the republican victories were in 94. Clinton had control of congress until then. alan w

To: j_b who wrote (3061)	8/25/1998 10:57:00 AM
From: Doughboy	Read Replies (3) \| Respond to of 13994

<<I am having some trouble with your comments - did the Democrats control the Congress after the 1992 elections? What happened to the Republican victories? If the Republicans had control of the Congress after the 1992 elections, how could the Democrats have passed the 1993 stimulus package?>> You're getting a bit confused (partially my fault because I put 1992 in my first message). Clinton was elected in 1992. Congress at the time was controlled by Democrats. The Stimulus Package was passed in 1993 (I think, but definitely during the Democratic control). In 1994, mid-term elections, voters who were angered by the tax increases in the Stiumulus Package, voted the GOP into control. Okay? <<When the "Reagan tax cut" <g> was proposed, and when the "JFK tax cut" was discussed, it was noted that tax cuts increase revenues and tax increases decrease revenues, because they change the way people do business. I wonder which is correct?>> I am an agnostic about deficits and taxes. There is no absolute right or wrong when a tax is bad or tax cut is good, and I think Democrats and Republicans have both pushed each other to the extremes. JFK showed that a tax cut and opening up a small deficit can bring a country out of recession. Reagan proved the same (though he and Congress went too far in letting govt go on and on for several years without tightening the belt to bring the deficit back under control). I think Clinton was right to see that the Government and the US Economy which was running on all cylinders for 15 years (with a small blip because of the Iraq war) were running on borrowed money and the deficit was out of control. He responsibly raised taxes, thinking that the economy could take it. It did. We have not had a recession since he came into office. As for the GOP tax increases, I think they were very stupid to insist on them when the economy is at such a high level capacity. There isn't much more juice that can be added to it until we get thrown over into an inflationary cycle. Even Greenspan basically telegraphed to the GOP that another tax cut would simply force his hand to raise interest rates. No doubt, if we run into a deflationary cycle, or recession, a tax cut and deficit spending is again called for. But I don't understand the constant drumbeat for tax cuts or deficit reduction when at some point it's detrimental. Doughboy.