The national debt just crossed $39 trillion—almost doubling since Trump vowed to erase it

[JonKoch]

You should not use varying tax rates to push false narratives as though tax rates do not vary due to factors that are incorporated into the variations. Yes, the highest tax rate under Carter was 91%. The fact that other rates applying to other income levels were lower does not mean there was no 91% tax bracket.

Gawd YOU are an idiot. I posted from YOUR OWN LINK showing Carter's top rate was 70%. Keep up your BS

 

[JonKoch]

Russia invade Ukraine in 2014, literally taking part of the country

You just can’t help but lie

Yeah we were talking BUDGET, you know MONEY? How much did Obama spend on Ukraine again? lol Fuckin moron

 

[JonKoch]

You should not use varying tax rates to push false narratives as though tax rates do not vary due to factors that are incorporated into the variations. Yes, the highest tax rate under Carter was 91%. The fact that other rates applying to other income levels were lower does not mean there was no 91% tax bracket.

AI Overview



That claim is incorrect.
The 91% top marginal tax rate was in effect from the 1940s through 1963, covering the Eisenhower and Kennedy administrations. During Jimmy Carter’s presidency (1977–1981), the top marginal income tax rate was 70%.

 

[struth]

LMAOROG. Sure, sure

Yes, very much so. Reagan's legacy was creating one of the largest economic booms in American history

It's the Reagan Economy, Stupid

On Aug. 13, 1981, Ronald Reagan sat at a small wooden table at his Santa Barbara ranch and signed into law the largest tax cut in American history. The landmark legislation slashed income taxes by...

www.aei.org

Why did this occur? One reason is what columnist James Glassman terms “the Reagan boom.” The Reagan tax cut fueled an era of economic expansion that began around 1983 and has, with a few hiccups, continued through the 1990s. Economic growth also helped to provide much of the venture capital for the technological revolution that itself accelerated the pace of economic growth, creating an upward spiral that has raised the Dow Jones average from 800 in 1982 to over 11,000 today. This explosion of wealth has generated a windfall in tax revenue for the treasury.

The second reason for the disappearance of the deficit is huge defense savings since the end of the Cold War. Mr. Reagan’s policies contributed to the demise of the regime he called an “evil empire,” and as a consequence America is now spending $150 billion less every year than before the Berlin Wall fell. These savings, which are likely to continue indefinitely into the future, would not have been possible without Mr. Reagan’s determination to win the Cold War.

These facts give rise to a tremendous irony: the very man who was blamed for the deficits of the 1980s, Ronald Reagan, is largely responsible for the budget surpluses of today. Mr. Reagan is fading into the sunset, but his legacy endures. There is little doubt that history will recognize the magnitude of his achievement.

But on the anniversary of his landmark tax legislation, we who are enjoying the benefits of today’s climate of peace and prosperity should give Ronald Reagan due credit during his lifetime.

 

[struth]

Yeah we were talking BUDGET, you know MONEY? How much did Obama spend on Ukraine again? lol Fuckin moron

FACT SHEET: U.S. Assistance to Ukraine since February 2014

obamawhitehouse.archives.gov

A few billion in those two years since he was more flexible with Putin. Obviously, later President, especially Biden spent way way more dealing with the fallout of Obama's more flexible position with Putin

 

[JonKoch]

Yes, very much so. Reagan's legacy was creating one of the largest economic booms in American history

It's the Reagan Economy, Stupid

On Aug. 13, 1981, Ronald Reagan sat at a small wooden table at his Santa Barbara ranch and signed into law the largest tax cut in American history. The landmark legislation slashed income taxes by...

www.aei.org

Why did this occur? One reason is what columnist James Glassman terms “the Reagan boom.” The Reagan tax cut fueled an era of economic expansion that began around 1983 and has, with a few hiccups, continued through the 1990s. Economic growth also helped to provide much of the venture capital for the technological revolution that itself accelerated the pace of economic growth, creating an upward spiral that has raised the Dow Jones average from 800 in 1982 to over 11,000 today. This explosion of wealth has generated a windfall in tax revenue for the treasury.

The second reason for the disappearance of the deficit is huge defense savings since the end of the Cold War. Mr. Reagan’s policies contributed to the demise of the regime he called an “evil empire,” and as a consequence America is now spending $150 billion less every year than before the Berlin Wall fell. These savings, which are likely to continue indefinitely into the future, would not have been possible without Mr. Reagan’s determination to win the Cold War.

These facts give rise to a tremendous irony: the very man who was blamed for the deficits of the 1980s, Ronald Reagan, is largely responsible for the budget surpluses of today. Mr. Reagan is fading into the sunset, but his legacy endures. There is little doubt that history will recognize the magnitude of his achievement.

But on the anniversary of his landmark tax legislation, we who are enjoying the benefits of today’s climate of peace and prosperity should give Ronald Reagan due credit during his lifetime.

Got it, you'll stick with right wing myths and BS

The Real Heroes of the 1998 Budget Surplus: Clinton and His Economy​

....In order to assign credit (or blame) for shifts in the country’s fiscal fortunes from 1993 to 1998, we scoured Congressional Budget Office reports from that period. Usually, over the course of a single year, the CBO releases three projections of the federal budget, each revised from the previous release to account for changes in legislation, economic conditions, and technical assumptions, and describe each change in some detail. We can see clearly what actually defeated the deficit by compiling and studying the changing CBO estimates of the 1998 budget.

Take President Clinton’s 1993 budget bill—officially known as the Omnibus Budget Reconciliation Act of 1993. OBRA, which mainly raised taxes on wealthy people but also raised the gas tax, extended limits on discretionary spending and cut back on some mandatory spending, was signed into law on August 10, 1993. Just five months prior, the Congressional Budget Office projected a 1998 deficit of $360 billion. One month after the bill passed, the CBO’s new estimate of the 1988 deficit was down to $200 billion. The CBO explained the dramatic improvement this way: “For the first time in two and one-half years, the deficit projections have taken a decided turn for the better… The reconciliation act deserves most of the credit for the improvement over the long run.” Indeed, of the $160 billion improvement from March to September of that year, CBO directly credited OBRA with $143 billion. In fact, OBRA turns out to have been the single largest contributor to the 1998 surplus.

After OBRA, the second largest contributor to fiscal improvement over the period was the rapidly strengthening economy

RELEASE: The Real Heroes of the 1998 Budget Surplus: Clinton and His Economy

www.americanprogress.org

THAT WAS THE BILL NOT A SINGLE GOPer voted for that cut spending $400+ billion and created 2 new tax brackets and took the top rate from 31% to 39.6%

 

[JonKoch]

Yes, very much so. Reagan's legacy was creating one of the largest economic booms in American history

It's the Reagan Economy, Stupid

On Aug. 13, 1981, Ronald Reagan sat at a small wooden table at his Santa Barbara ranch and signed into law the largest tax cut in American history. The landmark legislation slashed income taxes by...

www.aei.org

Why did this occur? One reason is what columnist James Glassman terms “the Reagan boom.” The Reagan tax cut fueled an era of economic expansion that began around 1983 and has, with a few hiccups, continued through the 1990s. Economic growth also helped to provide much of the venture capital for the technological revolution that itself accelerated the pace of economic growth, creating an upward spiral that has raised the Dow Jones average from 800 in 1982 to over 11,000 today. This explosion of wealth has generated a windfall in tax revenue for the treasury.

The second reason for the disappearance of the deficit is huge defense savings since the end of the Cold War. Mr. Reagan’s policies contributed to the demise of the regime he called an “evil empire,” and as a consequence America is now spending $150 billion less every year than before the Berlin Wall fell. These savings, which are likely to continue indefinitely into the future, would not have been possible without Mr. Reagan’s determination to win the Cold War.

These facts give rise to a tremendous irony: the very man who was blamed for the deficits of the 1980s, Ronald Reagan, is largely responsible for the budget surpluses of today. Mr. Reagan is fading into the sunset, but his legacy endures. There is little doubt that history will recognize the magnitude of his achievement.

But on the anniversary of his landmark tax legislation, we who are enjoying the benefits of today’s climate of peace and prosperity should give Ronald Reagan due credit during his lifetime.

• Enacted the 1993 Deficit Reduction Plan without a Single Republican Vote. Prior to 1993, the debate over fiscal policy often revolved around a false choice between public investment and deficit reduction. The 1993 deficit reduction plan showed that deficit and debt reductions could be accomplished in a progressive way by slashing the deficit in half and making important investments in our future, including education, health care, and science and technology research. The plan included more than $500 billion in deficit reduction.

"My colleagues and I have been very appreciative of your [President Clinton's] support of the Fed over the years, and your commitment to fiscal discipline has been instrumental in achieving what in a few weeks will be the longest economic expansion in the nation's history."
— Alan Greenspan, Federal Reserve Board Chairman, January 4, 2000, with President Clinton at Chairman Greenspan's re-nomination announcement

"The deficit has come down, and I give the Clinton Administration and President Clinton himself a lot of credit for that. [He] did something about it, fast. And I think we are seeing some benefits."
— Paul Volcker, Federal Reserve Board Chairman (1979-1987), in Audacity, Fall 1994

One of the reasons Goldman Sachs cites for the "best economy ever" is that "on the policy side, trade, fiscal, and monetary policies have been excellent, working in ways that have facilitated growth without inflation. The Clinton Administration has worked to liberalize trade and has used any revenue windfalls to reduce the federal budget deficit."
— Goldman Sachs, March 1998

"Clinton's 1993 budget cuts, which reduced projected red ink by more than $400 billion over five years, sparked a major drop in interest rates that helped boost investment in all the equipment and systems that brought forth the New Age economy of technological innovation and rising productivity."
— Business Week, May 19, 1997

 

[JonKoch]

FACT SHEET: U.S. Assistance to Ukraine since February 2014

obamawhitehouse.archives.gov

A few billion in those two years since he was more flexible with Putin. Obviously, later President, especially Biden spent way way more dealing with the fallout of Obama's more flexible position with Putin

So nothing really, as Cheeto asks for $700 billion more for DOD

 

[struth]

Got it, you'll stick with right wing myths and BS

The Real Heroes of the 1998 Budget Surplus: Clinton and His Economy​

....In order to assign credit (or blame) for shifts in the country’s fiscal fortunes from 1993 to 1998, we scoured Congressional Budget Office reports from that period. Usually, over the course of a single year, the CBO releases three projections of the federal budget, each revised from the previous release to account for changes in legislation, economic conditions, and technical assumptions, and describe each change in some detail. We can see clearly what actually defeated the deficit by compiling and studying the changing CBO estimates of the 1998 budget.

Take President Clinton’s 1993 budget bill—officially known as the Omnibus Budget Reconciliation Act of 1993. OBRA, which mainly raised taxes on wealthy people but also raised the gas tax, extended limits on discretionary spending and cut back on some mandatory spending, was signed into law on August 10, 1993. Just five months prior, the Congressional Budget Office projected a 1998 deficit of $360 billion. One month after the bill passed, the CBO’s new estimate of the 1988 deficit was down to $200 billion. The CBO explained the dramatic improvement this way: “For the first time in two and one-half years, the deficit projections have taken a decided turn for the better… The reconciliation act deserves most of the credit for the improvement over the long run.” Indeed, of the $160 billion improvement from March to September of that year, CBO directly credited OBRA with $143 billion. In fact, OBRA turns out to have been the single largest contributor to the 1998 surplus.

After OBRA, the second largest contributor to fiscal improvement over the period was the rapidly strengthening economy

RELEASE: The Real Heroes of the 1998 Budget Surplus: Clinton and His Economy

www.americanprogress.org

THAT WAS THE BILL NOT A SINGLE GOPer voted for that cut spending $400+ billion and created 2 new tax brackets and took the top rate from 31% to 39.6%

hahahah Americanprogress.org.....hahaha you have been wrong about every single one of your post thus far on this thread....why can't you learn?

I will say there were certainly some great things in the bill, in particular the spending cuts....the tax hikes actually slowed the economy, and even Clinton admitted where too damn high and a problem.

 

[JonKoch]

Yes, very much so. Reagan's legacy was creating one of the largest economic booms in American history

It's the Reagan Economy, Stupid

On Aug. 13, 1981, Ronald Reagan sat at a small wooden table at his Santa Barbara ranch and signed into law the largest tax cut in American history. The landmark legislation slashed income taxes by...

www.aei.org

Why did this occur? One reason is what columnist James Glassman terms “the Reagan boom.” The Reagan tax cut fueled an era of economic expansion that began around 1983 and has, with a few hiccups, continued through the 1990s. Economic growth also helped to provide much of the venture capital for the technological revolution that itself accelerated the pace of economic growth, creating an upward spiral that has raised the Dow Jones average from 800 in 1982 to over 11,000 today. This explosion of wealth has generated a windfall in tax revenue for the treasury.

The second reason for the disappearance of the deficit is huge defense savings since the end of the Cold War. Mr. Reagan’s policies contributed to the demise of the regime he called an “evil empire,” and as a consequence America is now spending $150 billion less every year than before the Berlin Wall fell. These savings, which are likely to continue indefinitely into the future, would not have been possible without Mr. Reagan’s determination to win the Cold War.

These facts give rise to a tremendous irony: the very man who was blamed for the deficits of the 1980s, Ronald Reagan, is largely responsible for the budget surpluses of today. Mr. Reagan is fading into the sunset, but his legacy endures. There is little doubt that history will recognize the magnitude of his achievement.

But on the anniversary of his landmark tax legislation, we who are enjoying the benefits of today’s climate of peace and prosperity should give Ronald Reagan due credit during his lifetime.

"These savings, which are likely to continue indefinitely into the future, would not have been possible without Mr. Reagan’s determination to win the Cold War."

AND I THOUGHT IT WAS EVERY US PREZ POLICY SINCE THE END OF WW2, NAH JUST RONNIE HUH? Maybe it was the USSR just failing, you know as it was really a bad system, according to righties who claim that about the commies? Nah, just Ronnie. I wonder what myths they'll have with Cheeto

 

[struth]

So nothing really, as Cheeto asks for $700 billion more for DOD

No actually billions is something....that of course was on top of the record debt Obama had already created.

And maybe you didn't realize it, but the DOD is AMERICAN, it's part of OUR Govt....Ukraine of course IS NOT.

 

[JonKoch]

hahahah Americanprogress.org.....hahaha you have been wrong about every single one of your post thus far on this thread....why can't you learn?

I will say there were certainly some great things in the bill, in particular the spending cuts....the tax hikes actually slowed the economy, and even Clinton admitted where too damn high and a problem.

So you can't refute the CBO numbers from AP? Got it

Clinton said that huh? LINKIE? Fuckin liar

 

[struth]

"These savings, which are likely to continue indefinitely into the future, would not have been possible without Mr. Reagan’s determination to win the Cold War."

AND I THOUGHT IT WAS EVERY US PREZ POLICY SINCE THE END OF WW2, NAH JUST RONNIE HUH? Maybe it was the USSR just failing, you know as it was really a bad system, according to righties who claim that about the commies? Nah, just Ronnie. I wonder what myths they'll have with Cheeto

No it wasn't every President's goal. Folks like LBJ wanted to continue it, he wanted to continue to grow Govt and grow spending.

Reagan of course had that goal, and accomplished it.

 

[JonKoch]

No actually billions is something....that of course was on top of the record debt Obama had already created.

And maybe you didn't realize it, but the DOD is AMERICAN, it's part of OUR Govt....Ukraine of course IS NOT.

OH got it, it's ok to increase a $1 trillion DOD budget by $700 billion because Cheeto asked AND we shouldn't help Ukraine with less than $200 billion because they aren't part of the US? I bet Cheeto's want to annex them, if Putin would let him

 

[struth]

So you can't refute the CBO numbers from AP? Got it

Clinton said that huh? LINKIE? Fuckin liar

I don'[t refute that made those predictions.

“Probably there are people in this room still mad at me for that budget because you think I raised your taxes too much. It might surprise you to know that I think I raised them too much, too.” — Bill Clinton, 1995

https://thehill.com/opinion/columnists/cheri-jacobus/95810-bill-clintons-bad-advice/

Clinton Angers Friend and Foe In Tax Remark (Published 1995)

www.nytimes.com

Speaking in Houston in October 1995, Clinton said, "Probably there are people in this room still mad at me... because you think I raised your taxes too much. It might surprise you to know that I think I raised them too much, too".

 

[struth]

OH got it, it's ok to increase a $1 trillion DOD budget by $700 billion because Cheeto asked AND we shouldn't help Ukraine with less than $200 billion because they aren't part of the US? I bet Cheeto's want to annex them, if Putin would let him

Yes, if we are going to spend money, it's always smarter to spend on ourselves.

I'd rather pay our soldiers, and feed them, then spend money on some other country. I don't know how that's lost on you