Keynesian Days drove U.S. economy for over 30 years. We had a boom in the 90s under higher top marginal rate during Clinton admin. The correlation between across-the-board cuts ad eco growth is spurious. We've known since the 40s that direct gov. spending is MORE STIMULATIVE than tax cuts. Yes, a government with integrity, under the vigilant eye of a pro-active citizenry, does indeed know how to spend the money of rich people better than they do!
Also, at a time when income inequality is as bad as during the Gilded Age, Obama's modest increase in taxes on the rich is perfectly prudent, especially considering all of the debt that needs settling.
I think your support of large tax cuts is misguided.
Volcker's anti-inflation measures, and not Reagan's tax cuts, are to thank for the economic growth of the 80s. Reagan's tax cuts left us with trillions in debt and did little else.
Furthermore, FDR's New Deal was far less bold than what Keynesian economics prescribes for that situation, and of course he put the brakes on it in 1937, causing the economy to plummet further in 1938.
Keynesian Days drove U.S. economy for over 30 years. We had a boom in the 90s under higher top marginal rate during Clinton admin. The correlation between across-the-board cuts ad eco growth is spurious. We've known since the 40s that direct gov. spending is MORE STIMULATIVE than tax cuts. Yes, a government with integrity, under the vigilant eye of a pro-active citizenry, does indeed know how to spend the money of rich people better than they do!
hatchbx 7 months ago
Government spending under Thatcher INCREASED!
Government spending under Reagan declined by just 1.8% of GDP, which is about half the cut achieved by Bill Clinton!
Government spending under John Howard INCREASED!
ShowsOn 2 years ago
Your hair looks like it`s going to take off and fly to the planet it came from.
mrtonyis 3 years ago
Also, at a time when income inequality is as bad as during the Gilded Age, Obama's modest increase in taxes on the rich is perfectly prudent, especially considering all of the debt that needs settling.
skearny1 3 years ago
I think your support of large tax cuts is misguided.
Volcker's anti-inflation measures, and not Reagan's tax cuts, are to thank for the economic growth of the 80s. Reagan's tax cuts left us with trillions in debt and did little else.
Furthermore, FDR's New Deal was far less bold than what Keynesian economics prescribes for that situation, and of course he put the brakes on it in 1937, causing the economy to plummet further in 1938.
skearny1 3 years ago