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Old 07-26-2015, 07:40 PM
 
1,820 posts, read 1,642,605 times
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Quote:
Originally Posted by SportyandMisty View Post
The 1993 Clinton tax increase raised the top two income tax rates to 36% and 39.6%, with the top rate hitting joint returns with incomes above $250,000 ($400,000 in 2012 dollars). In addition, it removed the cap on the 2.9% Medicare payroll tax, raised the corporate tax rate to 35% from 34%, increased the taxable portion of Social Security benefits, and imposed a 4.3 cent per gallon increase in transportation fuel taxes.
All that because the incoherent spending policies of Reagan and Bush-41 had left the nation's books in total disarray. See the background behind Gramm-Rudman-Hollings. Clinton had wanted to enact his "Middle Class Bill of Rights" and the associated tax cuts upon his inauguration, but actual economics people explained to him that it was tax increases that were desperately needed at the time. Albeit reluctantly, he was still smart enough to see the point and hold the Middle Class programs for later on -- i.e., 1997.
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Old 07-27-2015, 09:23 AM
 
4,873 posts, read 3,573,810 times
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Originally Posted by SportyandMisty View Post
Your post is quite problematic, and of course, especially reductive.
Of course it's reductive, it's a simple situation. One side of the political aisle desperately wants "those people" to be the problem, and they treat their conclusion as axiomatic despite a complete lack of evidence. They don't need to prove that the problem with the economy is lazy millennials/blacks/Mexicans! It's obviously true! Facts are just the Devil trying to confuse you; your heart is the only macroeconomist you need. Et cetera.
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Old 07-27-2015, 10:40 AM
 
Location: Paranoid State
13,044 posts, read 13,789,090 times
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Originally Posted by Major Barbara View Post
Of course. But in Reagan/Romney-ville, employers get to externalize big chunks of their actual labor costs, forcing taxpayers to foot the bill for those instead of customers or stockholders. Sounds good to them.
LOL! Problematic and highly reductive.
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Old 07-27-2015, 10:55 AM
 
2,220 posts, read 2,781,213 times
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Quote:
Originally Posted by Major Barbara View Post
All that because the incoherent spending policies of Reagan and Bush-41 had left the nation's books in total disarray. See the background behind Gramm-Rudman-Hollings. Clinton had wanted to enact his "Middle Class Bill of Rights" and the associated tax cuts upon his inauguration, but actual economics people explained to him that it was tax increases that were desperately needed at the time. Albeit reluctantly, he was still smart enough to see the point and hold the Middle Class programs for later on -- i.e., 1997.
Incoherent spending--as opposed to the stagflationary policies of the marvelous Carter Administration.

Nor did Clinton's "middle class programs" (sic) ever get through Congress, which were "the bad guys"; who actually held entitlements in check.
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Old 07-27-2015, 10:59 AM
 
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Originally Posted by FrankMiller View Post
Of course it's reductive, it's a simple situation.
"Simple" is indeed a good word for it. Many are those who -- yellow wood or no -- choose the crude ease of a well-worn and thoroughly pre-traveled road. Saves all the trouble and complexity of actually having to think things through.
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Old 07-27-2015, 11:02 AM
 
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Quote:
Originally Posted by SportyandMisty View Post
LOL! Problematic and highly reductive.
Turn the page on the new-word-of-the-day calendar. If you don't understand the concept and practice of externalized costs, you should be reading something other than a calendar anyway.

Last edited by Major Barbara; 07-27-2015 at 11:34 AM..
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Old 07-27-2015, 11:32 AM
 
1,820 posts, read 1,642,605 times
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Originally Posted by NickB1967 View Post
Incoherent spending--as opposed to the stagflationary policies of the marvelous Carter Administration.
LOL! Stagflation was a Nixon/Ford product. Tsk, tsk. Wage/price controls were such a poor response to an oil price shock.

Quote:
Originally Posted by NickB1967 View Post
Nor did Clinton's "middle class programs" (sic) ever get through Congress...
You should check the provisions of the Taxpayer Relief Act of 1997 against points raised by Clinton in earlier years, such as in his acceptance speech at the 1992 Democratic convention. His ideas for welfare reform can be found there as well. I suspect that you've never seen any of those either.

Quote:
Originally Posted by NickB1967 View Post
...which were "the bad guys"; who actually held entitlements in check.
The only Republican idea for what they call "entitlements" is to do away with them. Keep foxes out of the henhouse, and never let a Republican anywhere near your SS or Medicare benefits.
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