So, I asked Wiseaker the following:
When are you going to show me when it was that lowering income taxes
when unemployment was high, to the wealthy, ever helped the economy. And that was the EXACT question, copied and pasted to here. With the highlight added. And this becomes a really funny post, as Wiseacre actually gets is all wrong, and then tries to insult me for not having things historically correct.
I give you Ronald Reagan, about 30 years ago.
Reagan did indeed lower taxes one time when the ue rate was high. In February, 1981. When the ue rate was 7.3%. And, the result was that the UE rate went to 10.8% by Nov of 1982. Caused quite a panic. The deficit also soared. So, what happened then, my poor ignorant con?? Why, he raised taxes 11 times. And he borrowed more than all of the presidents before him, from the formation of the country. Tripled the national debt. And greatly increased the size of the gov. You know wiseaker, if you actually looked this stuff up, you could prevent this embarrassment.
And LBJ, about 20 years before that. Really those cuts were Jack Kennedy's idea, but nonetheless.
Sorry, my poor ignorant con. the issue is what do you do in a bad economy with
high unemployment. At the time of the tax decrease you are talking about, the UE rate was about 5.4%. Now, Wiseacre, go look at the question again. See if you can a. Understand it, and 2. look for a relevant case. And, then apply the UE at the time. Do you think 5.4% is bad?? If you do, you are truly an idiot. So, now, try to understand, me boy. Neither economists not democrats think that tax decreases are bad. That comes to your mind because of the simplistic repub economic agenda, which is decrease taxes under all cases. And NEVER increase them. Actual thinking people know that taxes are much more complex than that. And that decreasing taxes can be a very good thing. Or bad. Depending on the state of inflation. Oops. I am sure you are lost by now.
You know why guys like Warren Buffet pay a lower tax rate than their secretary? Cuz they get to write off so many deductions and exemptions. Take that away and I'm thinking he and other rich guys like him will pay more.
Yup. That would be true. But that is not the only reason, as you should know. It is because the wealthy, as in the case of Buffett, often pay primarily capital gains tax rates. Which is the reason that so many of the wealthy pay very low rates.
Oh, almost forgot the tax cuts under Bill Clinton, when the Gingrich led Congress cut taxes in his 2nd term and spurred the economy to better results than when he raised taxes in 1993.
Wiseacre, again, you could really help yourself not look like a complete idiot by simply checking the drivel you are about to post BEFORE you post it. Jesus, you are slow. Again, look at the question. It says, quite clearly, I might add, income tax decreases during
HIGH unemployment times. If you had checked, you would see that the economy had turned around a great deal by the time the tax decrease you mention took place. And, by the way, it was as much Clinton's as anyone's, as he pushed it. And, by the way, though you do not specify what you are talking about, I would assume you are talking about the capital gains tax decrease of 4% towards the end of his term.
The idea that this small tax decrease "spurred the economy to better results than when he raised taxes in 1993" is too stupid to believe. Even you should know better. It may have indeed helped an excellent economy, but not by any major amount. If you thing it did, bring on an impartial source to explain how that occurred. Dipshit. Jesus you are dishonest.
Only a completely arrogant and ignorant fool disregards history, which pretty much sums you up.
Now, me poor ignorant con, that is quite a sentence after your post. You were historically wrong in every point you tried to make. You were unable to understand my question, which was quite simple. Now, you should feel like the fool you are. But then, you lie a lot, and it does not seem to embarrass you when it is pointed out. Must be a sad existence.
Here is the thing, in a nutshell. You are unable to understand that economists see no issue with lowering taxes in a good economy. One where unemployment is low. Had you noticed that unemployment is high right now??? Did you ever wonder if the question I asked you, which was to name a time when lowering income taxes during times of high unemployment had ever helped that economy, may have been related to the current economic situation? Or are you simply too ignorant to connect the dots??