Quote:
Originally Posted by Pete F.
Are you claiming that Newt was responsible for later collapse of the economy, housing bubble etc.
Did you forget the "largest" tax increase in history signed by Clinton in his first year?
The dot com bubble, booming stock market along with a surge in capital gains taxes paid
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I said that Newt Gingrich crafted the budget, which Bill Clinton signed, which most people say helped the economy soar for a decade. You are, of course, free to disagree.
As to the housing bubble? Blame on both sides. The law that allowed banks to get into the business of selling fishy derivatives was crafted by a republican congress and signed by Bill Clinton. And I know that liberals like yourself don't like this notion, but we also did a lot to bring it upon ourselves. Too many of us bought houses we couldn't afford. It's not the governments job to be our personal financial advisors.
"Did you forget the "largest" tax increase in history signed by Clinton in his first year?"
no, I remember it. I also remember it failed to help the economy, so he eventually teamed up with Gingrich.
"a surge in capital gains taxes paid"
Aha!! Correct!! More capital gains taxes were paid!! But that was AFTER capital gains tax rates were cut. Clinton lowered capital gains tax
rates, and then capital gains tax
revenue collected, increased.
Boy, you just can't process anything that doesn't support pure liberalism, can you?