Quote:
Originally Posted by lorrysda
And...then went forth with tax "cuts" which gave us the longest economic growth and peacetime prosperity in US history.
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Oh? If you are referring to Tax Reform Act of 1986, then you know this was a windfall for the richest people and a tax rise for the lowest. The top tax bracket was lowered while the lowest tax bracket increased to 15%. Interest on credit card debt could no longer be deducted, IRA deductions were limted, 401k deduction were limited, married couples paid more by repealing the deduction for two-earner couples, it limited medical deductions, it limited deductions on home interest, it repealed the dividend exclusion, and the tax code became more complicated.
As for the longest economic growth in American history, you must be referring to the Clinton years. During Bush 1's term, we had a recession.
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