Clinton raised taxes in 1993. Prosperity AND deficit reduction followed.
Again, you are moving the goal posts. You're making a correlation between tax rates and
"prosperity and deficit reduction" which have
nothing to do with tax revenues from the tax rates. All kinds of things go into the economy and deficit/surplus regarding budgets. We're talking specifically about the tax rates and the
collected tax revenues from those tax rates.
Every time in modern history, and you can go all the way back to Coolidge... when we reduce the top marginal tax rates we realize an
increase in tax revenue. That is a FACT. It's an indisputable FACT. That's why you are forced to change topics and talk about debts and deficits instead of the tax revenues.
You can fool really stupid people with this, you aren't fooling ME!
Clinton then proved that when you RAISE the top marginal tax rate you increase revenues.
LBJ got a big increase in revenues by putting a TAX SURCHARGE on the income tax to pay for the Vietnam War.
The top rate cut from GW Bush tax cuts was allowed to expire in 2014, meaning the rate went up,
and we've had increased revenues every year since.
BUT REVENUES DID INCREASE under GWB with the TAX cuts and you can't ignore these FACTS!
AND PLEASE tell me where Budget deficits declined EVEN with more tax revenue under Obama?
AND remember TARP made up the BIG chunk of deficit from GWB...BUT and you uninformed people never understood this:
TARP has been paid back under Obama with a profit of $72 billion and Obama STILL had tremendous deficits having added in spite of TARP pay back
over $9 trillion to the national debt!
Also remember Obama holds the dubious distinction of having the LOWEST percent of growth of the Gross Domestic Product of ANY president!
Obama May Become First President Since Hoover Not to See 3% GDP Growth
President Barack Obama may become the first president since Herbert Hoover not to serve during a year in which the growth in real GDP was at least 3 percent.
Obama May Become First President Since Hoover Not to See 3% GDP Growth
Wonder why???
Because Obama wanted 1,400 companies to go out of business thus reducing tax revenues by $100 billion a year!
Obama wanted utility companies to go bankrupt and gas prices to climb. Obama wanted the USA to be energy DEPENDENT on foreign oil.
All documented statements from Obama that the GDP might have grown more under Obama if he were less anti-business!
View attachment 117434