Rshermr
VIP Member
- May 30, 2012
- 5,804
- 287
All of the concern about tax increases belies the fact that there was no time in history when raising taxes hurt the economy. If you know of a case where tax increases raised unemployment, let me know. I can't find one.
Recent cases of tax decreases:
Reagan, 1981 - Huge tax decrease led to unemployment going from about 7% to over 10.5% in the following year or so, 11 tax increases and unprecidented borrowing (more than all the presidents previous since the first and tripling of the national debt) and resulting spending to stimulate the economy).
Bush GW - Though he spent like a drunken sailor and increased the national debt by more than any other president, we ended up with the worst economic recession since 1929.
If you are trying to blame tax increases for the economic malaise we are now in, consider that by all govt. stats, all income levels are paying less taxes than some time in the very early 1950's.
The key to getting the economy cooking is increased demand, along with incentives to produce in the US. That is only going to happen with stimulus spending. Believe in what Reagan's economists did when the great tax decrease plan went south. Spend to get things moving, then back off when things get better.
Recent cases of tax decreases:
Reagan, 1981 - Huge tax decrease led to unemployment going from about 7% to over 10.5% in the following year or so, 11 tax increases and unprecidented borrowing (more than all the presidents previous since the first and tripling of the national debt) and resulting spending to stimulate the economy).
Bush GW - Though he spent like a drunken sailor and increased the national debt by more than any other president, we ended up with the worst economic recession since 1929.
If you are trying to blame tax increases for the economic malaise we are now in, consider that by all govt. stats, all income levels are paying less taxes than some time in the very early 1950's.
The key to getting the economy cooking is increased demand, along with incentives to produce in the US. That is only going to happen with stimulus spending. Believe in what Reagan's economists did when the great tax decrease plan went south. Spend to get things moving, then back off when things get better.