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Pete F. · 09-25-2018, 02:59 PM

A little history, plagiarized of course
As projections for the deficit worsened, it became clear that the 1981 tax cut was too big. So with Reagan’s signature, Congress undid a good chunk of the 1981 tax cut by raising taxes a lot in 1982, 1983, 1984 and 1987. George H.W. Bush signed another tax increase in 1990 and Bill Clinton did the same in 1993. One lesson from that history: When tax cuts are really too big to be sustainable, they’re often followed by tax increases.

09-25-2018, 02:59 PM	#19
Pete F. Canceled Join Date: Jun 2003 Location: vt Posts: 13,069	A little history, plagiarized of course As projections for the deficit worsened, it became clear that the 1981 tax cut was too big. So with Reagan’s signature, Congress undid a good chunk of the 1981 tax cut by raising taxes a lot in 1982, 1983, 1984 and 1987. George H.W. Bush signed another tax increase in 1990 and Bill Clinton did the same in 1993. One lesson from that history: When tax cuts are really too big to be sustainable, they’re often followed by tax increases.
	Frasier: Niles, I’ve just had the most marvelous idea for a website! People will post their opinions, cheeky bon mots, and insights, and others will reply in kind! Niles: You have met “people”, haven’t you? Lets Go Darwin