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Originally Posted by Jaxian  And according to you, the reason is higher taxes, right? If the problem were taxes, then we should expect the economy to slowly dwindle throughout Clinton's presidency, as people take home less money and the economy begins to falter. Instead, we saw little sign of economic weakness until late 2000, after which there was a sudden economic downturn. Doesn't this suggest that a sudden event had a drastic effect on our economy? What makes you think taxes instead of a shift in the market? | The enormous tax increases Clinton ushered in TEMPORARILY padded the coffers. They brought in a lot of money SOLELY because the economy was so strong! But the Clinton tax increases also stifled the economy. That is why, several years later, we saw a RECESSION at the end of the Clinton years.
Clinton inherited, but taxed the life out of, an enormous economic boom - one that was brought about by the success of Reaganomics. He taxed the economy into a recession.
George W Bush instituted sweeping tax cuts. And guess what? Though it took a little time, it brought about an enormous boost to the economy! It IS happening, whether you and all the other liberals want to admit it, the American economy is currently VERY, VERY strong.
...and by the way, have you noticed how QUIET the liberal media is about the economy these days? 5 years ago, when the stock market plunged, they were all over it like stink on crap. Now, when the stock market continues to set record highs, nobody in the media is talking about it. Can you say "HYPOCRISY"? The economy is booming, and the media will NOT admit it. |