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Originally Posted by Jim in CT
Spence, Clinton increased taxes, then decreased taxes, and then the econjomy started growing. Yet you won't consider the possibility that the tax cut had anything to do with it.
OK, so using yuor logic, can't I say that it was when the Bush tax cuts kicked in, that the economy took off, even more? Go figure?
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The dot com growth in the markets really started climbing in 1995, after Clinton raised taxes and before he cut them.
The point is that tax policy is just one factor in economic performance. Tax cuts for the middle class may reduce household debt and keep demand higher. But I don't see any evidence that suggests it has a large bearing short-term given the mechanics of trickle down.
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Spence, the man cut spending, and balanced the budget. How does that jive with our current President who operates with trillion dollar deficits every year?
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Clinton inherited a relatively peaceful world, oil under 20 dollars, an economy already out of a recession and the most significant technology advancement to hit an emerging global market since perhaps in the past century.
Obama by contrast inherited two wars, the worst economic mess since the great depression, multiple disintegrating nation states, a failing EU, a trillion dollar deficit (yes, he inherited this) and a nation saddled with debt and trending towards more.
He should be able to just snap his fingers and fix it all...right?
-spence