Clinton raised taxes and the economy seemed to do okay.
He also cut spending.
It was actually Clinton’s tax cuts two years later, including a reduction in the capital gains tax rate, combined with welfare reform, which encouraged workers to return to their jobs by reducing disincentives to do so, that set the stage for the economic growth of Clinton’s second term.
Clinton would be considered a far right, radical, racist, xenophobic, nut job by todays Democratic party.
Gosh, let us quadruple taxes then and the economy should do even better!
We know humans are just robots and that disincentives to work don’t even register on their cerebral cortices!
Kennedy called for lowering taxes and the economy seemed to do okay and lefties loved the guy. Unfortunately he didn’t live to see it passed.
By “huge tax hikes,” you mean returning some of the rates back to 2016 levels?
We should go back to the spending levels from 2016.
If you think income taxes are too low you’re free to pay more.
IT would do about a good as cutting taxes to zero and waiting for that flood of revenues THAT tax cut would generate.
Yet the tax receipts to the Treasury continue to set record levels every year, even in 2020. All this while still operating under the Trump tax cuts. The fact that Libs cannot see the spending problem is beyond baffling…
They don’t understand the problem is spending, I can just imagine how fucked up lefties personal finances are.
Nobody is calling for reducing the rate to zero, under the Trump tax cuts revenue went up, unfortunately so did spending.
Let’s say you own a bike shop, you buy a bike for $800, sell it for $1,000 and sell 100 bikes a month. Your profit on those bikes is $2,000. Lets say you drop the price to $950 a bike but now sell 200 bikes a month, your profit is $3,000. That’s how the lower tax rate works. Of course if you decide to celebrate by spending $4,000 more a month you’re fucked, just like the country is when congress increase spending more than revenue.
If that analogy is too confusing for you I’ve got one where your mommy and daddy let you have a lemonade stand.