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Oh, I forgot a very important point.The result of all those tax cuts during the Reagan years was to balloon yearly budget deficits and add more to the federal debt than all previous presidents before him since WWII.Meanwhile the tax hikes in the Clinton years turned the deficits into the first surpluses since 1969. Hmm, seems like tax hikes on the rich aren't so awful after all...by paying down the deficit, interest rates were kept lower, making home and auto purchases less expensive. It was like a tax cut for everyone!Apparently the tax rates of the 1990s didn't prevent growth and prosperity after all.I sense conservative minds, exploding...
Oh, I forgot a very important point.
The result of all those tax cuts during the Reagan years was to balloon yearly budget deficits and add more to the federal debt than all previous presidents before him since WWII.
Meanwhile the tax hikes in the Clinton years turned the deficits into the first surpluses since 1969.
Hmm, seems like tax hikes on the rich aren't so awful after all...by paying down the deficit, interest rates were kept lower, making home and auto purchases less expensive. It was like a tax cut for everyone!
Apparently the tax rates of the 1990s didn't prevent growth and prosperity after all.
I sense conservative minds, exploding...
