You're just throwing out stats. If you want to compare numbers to Clinton, that's fine. But if you're not willing to accept the notion that gains caused by inflation aren't real gains, then we can't have an honest debate.I recognize reality, you don't. Reality is Reagan doubled GDP, created 17 million jobs, created a peace dividend, cut FIT and grew FIT revenue 60%. noticed that the 1.7 trillion Reagan debt is a problem for you but not the 1.4 trillion Clinton debt. Why is that
And the big difference between the debt record of Reagan and Clinton is Reagan increased the deficit from what he inherited, and Clinton inherited a very large deficit and reduced it every single year until we had a measured "surplus."
"You know, Paul, Reagan proved deficits don't matter...."
OK, Ronnie is a political Saint. What we're talking about is the notion that tax cuts pay for themselves. We will always have different ideas about appropriate or desirable spending levels. That's a good thing IMO. What I object to is the notion that if conservatives want to increase government spending, they can pay for that spending with a tax CUT, or that tax rate cuts require no difficult choices on spending cuts. It's just false, a lie, cowardly, fiscally stupid, etc.It has everything to do with the direction of the country. Obama's is wrong, Reagan got it right
And to be complete, of course I accept that tax increases reduce economic growth, and tax cuts (if paid for with spending cuts) increase economic growth.
If you are going to adjust numbers to inflation, adjust all numbers
You are including the payroll taxes in the total receipts, and using large increases in payroll taxes to 'prove' that cuts in income tax rates paid for themselves. I'm not objecting to the payroll tax increases. They were necessary.Yes, but the accounts were almost broke and that is the point therefore Reagan didn't have any funds to use as the outflow matched the income. Just like a liberal, one big pot of money, right? Gasoline taxes are to fund what? Why are they on budget for other items? A liberal hasn't seen a dollar they they will not spend and it doesn't matter what pot it is supposed to be in.
Tax rates matter, which is why when Clinton raised them, taxes reached a record level of GDP. And Congress lowered capital gains rates in 1997 - income tax rates stayed at 39.6%.Do you realize how irrelevant tax rates are? Effective rates matter, that is what people pay. Congress lowered the tax rates in spite of Clinton's rhetoric and he signed them. now you want to give him credit for what Congress did
TEFRA 82 was a major income tax INCREASE. The biggest in history at that time. This is just part of the historical record.Reagan increased USE taxes not Federal Income Taxes. If you didn't use the product you didn't pay the taxes. Everyone who earned income got a tax cut. what a novel idea, keeping more of what you earn
We can debate policy on another thread.If you want to talk taxes, why is it that liberals only want to raise them? Liberals want to give tax cuts to people who don't pay taxes. You call that a taxcut? I call it a handout