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The growth in revenue under Bush was anemic and then some compared to the growth of revenues under Clinton.
Clinton CUT taxes as well
Capital gains went from 28% to 20%, and he slashed taxes on 90% of businesses. Now that you proclaim Clinton had a growth of revenues, and faced with the truth that he cut taxes.. What do you have to say now?
Capital gains went from 28% to 20%, and he slashed taxes on 90% of businesses. Now that you proclaim Clinton had a growth of revenues, and faced with the truth that he cut taxes.. Are you going to still stand here and proclaim its anemic?
The revenues went through the roof under Clinton because he raised taxes on the wealthy, the revenue increases under Bush were the worst on record.
The rates on the top two brackets increased under Clinton, as a result the revenues increased.
Lie..
The effective tax rate for the top 1% of americans FELL substantially during the Clinton years
http://www.outsidethebeltway.com/wordpress/wp-content/uploads/2009/07/effective-tax-rate-charts.png (broken link)
Clinton CUT the effective tax rates and revenues CLIMBED..
The rates on the top two brackets increased under Clinton, as a result the revenues increased.
Of course they did. Only an idiot or liar would argue otherwise. It is funny that Republicans are now saying that Clinton is successful because he cut taxes. Of course when his tax bill was passed by a narrow margin, with most Republicans against it. The Republicans then were saying it was the largest TAX INCREASE IN HISTORY. Now they try a little revisionist history and say that they were in favor of it. Lies, Lies and more lies.
The fact is that is was a tax cut for the middle class and business and some for capital gains, but there was a tax increase for the wealthiest 1.2 percent as well as a gas tax increase. They always seem to leave that out.
I went to your cute little link. It doesn't even have any authors or references and I'm guessing it was written by a blogger who lives in a trailer park with his mother.
The link does use CBO data though. Perhaps you'd like to look at this bit of CBO data instead.
The CBO estimated that extending the tax cuts would cost $3,300,000,000,000 over the next 10 years.
I'll also point out that by your analysis, sending the tax rate to 0.0000000000000001%, would mean that the government would have incrementally more money that it has now. Are you really saying that?
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The Laffer Curve actually supports nononsenses statements, so it doesnt sound like you are very familiar with what you are talking about..
No offense, but had I not mention it, you wouldn't know what that concept was. The curve actually is a graphical representation of these two competing outcomes. It's sad that you can't realize this.
"In economics, the Laffer curve is a theoretical representation of the relationship between government revenue raised by taxation and all possible rates of taxation."
Thus, when the tax rate nears 0, the amount of revenue generated does as well.
Did you study economics in high school? How did you do? Did you study it in college? Didn't think so...
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No because the "big government" has no interest in stimulating the economy, they like to keep people dependant on their governmental benefits.
Wow, I tried dumbing that argument down as much as I could. I'll have to try again. Those people you're talking about are politicians. They like getting elected and keeping their job. Any of them from any party would be passing all sorts of tax cuts if cutting taxes meant increasing revenue.
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