Monday, August 27, 2007
We raised taxes in the '90s, cut the deficit, and the economy boomed", don't Republicans and any journalists who aren't already in the tank for Hillary respond with:
'Are you really claiming that raising taxes brought on the Internet boom which was largely responsible for the the economic growth and the shrinking deficit?
Do you really believe that the success in the 1990s of such companies as Dell, Microsoft, Intel, Cisco, Oracle, IBM, AOL, and the like were because Bill Clinton raised taxes in 1993?
Did Clinton agreeing to lower capital gains rates in 1997 have nothing to do with the rise in capital gain tax receipts during the remainder of Clinton's term?
Did the constant dollar reductions in defense spending play no part in reducing the federal deficit during Clinton's presidency?'
Answering 'No' to the above questions eviserates the argument that raising taxes in 1993 was a major factor in the growing economy and the rise in tax collections that led to the short-lived budget surplus.
And answering 'Yes' to the above questions reveals how delusional the other side is, that they believe that their tax cuts, and their tax cuts alone, were responsible for the growth in the economy during the 1990s. Not the Internet boom, not the reductions in defense spending, not the welfare reform package, and not the positive effects of the NAFTA free-trade agreement... Bill Clinton's tax cuts were the magic elixir that cured all that ailed us during that time.
Believing that those tax cuts fueled the growing economy ought to, by itself, be a disqualifying factor for one's presidential campaign.... just as and failing to ask those questions of the tax hike crowd ought to disqualify one as well.