Quote:
Originally posted by AGDee
You don't remember the trickle down Reagnomics theory? The richer the rich and big business are, the more people they hire, the more money people make, the more money people spend and invest and the more taxes are generated by volume of people paying in rather than the percentage. Problem is, it didn't work in the 80's either.
|
Facts don't support your conclusion.
The tax cuts of the Reagan era led (as expected) to MORE federal revenues and to a long period of prosperity ending near the end of Clinton's reign and the dot com collapse.
Bush's first term tax cuts have resulted again in MORE federal revenue.
Even back in Kennedy's term, his tax cuts produced MORE income.
The 1994 election and Gingrich/Republican control of Congress also helped, since they had some success in reducing expenses.