- Joined
- Sep 18, 2011
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ok.. I see.
To a degree I can agree. But reducing the capital gains tax creates a unsustainable surge of investment money and of course... a bubble. The 2001 Tech bubble that burst just four years after Clinton passed that capital gains cut. It creates a surge of upper crust money and they aren't sure what to do with that dollar surplus so they start looking for investments to put them in and these investments get way over inflated... sad thing is, that's where we are at right now. We are living on another unsustainable bubble. The stock market constantly breaking records doesn't necessarily mean a great economy. In this case it just shows off the wealth gap growing and the investment side totally beating out the demand side. If demand doesn't catch up to the investment side... we are going to burst again.
Clinton also singed into law the GOP notion of NAFTA... made the rich people much more money as they outsourced our jobs. Another short term unsustainable growth spurt... further widening the wealth gap and therefore the supply side outstripped the demand side and then bubble... then... burst.
Welfare reform... I don't see how that did anything for the economy. Especially when for each dollar spent on welfare creates somewhere in the area of $1.80 in macro-economic growth. I know people will extrapolate that into "well why don't we all just go on welfare then" but I'm hoping more reasonable minds will keep the debate out of such ridiculous territory. This proves that trickle down is a false notion because money is anti-gravity. When you spend money it begins it's journey back up to the top of the food chain... not the bottom.
* sorry... I know I keep editing this post.
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