FFDP666
Well-known member
- Joined
- May 31, 2011
- Messages
- 519
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you tell only part of the story, ignoring that the Clinton tax cuts that went into effect in January 1993 cost the Democrats control of Congress in 1994 and then you ignore the GOP tax reductions of 1997 that Clinton signed. What is it about liberalism that creates this kind of loyalty that you continue to buy rhetoric and ignore reality?
You mean Clinton tax hike 1993. I don't ever use political winnings to determine who is right and who is wrong on substance. the tax reductions weren't targeted at income which is what this whole debate is about, it was capital gains, small business's, education, and items that would help lower income people. Those tax breaks were targeted at certain areas of the economy, but a simple broad tax break on rich income, does not create a large amount of economic activity.
"Individuals will get a variety of new tax breaks. The law provides a tax credit for children under 17, creates college tuition tax credits and education IRAs, and allows penalty-free withdrawals from individual retirement accounts for qualified education expenses and first home purchases. Capital gains taxes are cut, and the rules for taxing home sales are completely revised. Fewer estates will be subject to taxes, and special estate tax breaks are provided for qualifying small businesses and family farms."