Dem Tax Cuts Good. Repub Tax Cuts Crap.
[QUOTE=Tiny12;2806786]Who cares. Eisenhower is ancient history. Saying he's representative of the modern Republican Party makes about as much sense as saying the Democrats who held back Civil Rights reforms in the 1950's and 1960's are representative of the Democratic Party today. Maximum marginal tax rates during the Eisenhower administration were 91%, for goodness sake. The economy, coincidentally or not, did take off when Kennedy cut tax rates, to 70% for the top bracket. While I wasn't alive when Eisenhower was president, I suspect he didn't do a bad job compared to the others. According to the history books, you can attribute the recessions to Fed policy, not the fact that the president was a Republican.
In my book the only great president during our adult lifetimes was Ronald Reagan, and Clinton during his second term was the only good one. Again coincidentally or not, GDP grew more during their terms than other modern Presidents. But it's their policies and their abilities to work across the aisle that set them above the rest. George H. W. Bush wasn't bad either. He was handicapped by when he came to the office in relation to the economic cycle.[/QUOTE]If course the dragging, poor jobs-creating Eisenhower economy took off after Kennedy's tax cuts. That is one of the main reasons I vote for Dems and have said so many times; I LOVE their tax cuts because they WORK to produce jobs and expand the economy, unlike Repub tax cuts that work quite well to produce Great Depressions / Great Recessions and destroy jobs by the millions.
Here's the deal: Kennedy's tax cuts were not Repub-style Supply-Side / Trickle-Down tax cuts disproportionately high for the top income margin and paid for by everyone else. Far from it. The percent of cuts to the middle and lower income margins was greater than the percentage for the top margin, particularly when you factor in the allowances in the tax code.
That would be the OPPOSITE of what Repubs celebrate and congratulate themselves for with their disproportionately high tax cuts for the wealthy.
LOL. Repubs and Bothsider / Neithersider Repubs always point to Kennedy's cut for the top margin from 90% or so to 70% or so, never mention the rest of it and try to bamboozle anyone who will listen into swallowing that as proof that their beloved tax cuts for the wealthy is the way to create jobs and expand the economy like FDR did, Truman did Kennedy / LBJ did, Carter did, Clinton did, Obama did and Biden has by just putting more money into the pockets of wealthy people and nothing about the far more difficut work on all those other devilishly complicated details.
Yep, Dem Tax Cuts Good, Repub Tax Cuts Crap, Part 2
[QUOTE=Tiny12;2807043]Exactly. A Republican and a Democratic president could sign the same legislation into law and you'd praise one and criticize the other. If Clinton hadn't been president when the capital gains tax was cut to 20%, I'm sure you'd criticize the cut.
That's just not true as to the tax rate cuts that occurred under Bush and Trump. In percentage terms, the total tax on ordinary income paid by people in lower brackets reduced more than those in higher brackets. Overall the USA Has the most progressive tax system in the developed world, when you include VAT, sales taxes, property taxes, federal and state income taxes, and the employee's share of social security and Medicare CONTRIBUTIONS.
The overall level of taxation and government spending is what's much more important than the progressivity of the system though. The USA and Ireland have very progressive tax systems. Hong Kong has very regressive taxation. Yet all three of these countries (using the term "country" loosely for Hong Kong) overall have among the lowest government revenues and spending (as a % of GDP) and the highest levels of GDP per capita, adjusted for purchasing power. The key is smaller, ideally more efficient government. If the government takes a smaller piece of the pie, that means the private sector takes a larger piece. And the private sector is the engine of jobs and growth. A country is more prosperous when more money is left in the hands of its people and its businesses.
And that's where the current crop of Democrats, unlike Kennedy and perhaps Clinton, have it wrong. They want to make the USA into Europe. And if they're successful, the prosperity of the country will suffer.[/QUOTE]But the tax policies enacted by Clinton and his Dem Congress of 1993 and 1994 led directly to the historic economic expansion and jobs creation of the years that folliwed. Until GW Bush took over with his Repub Congress, got his Repub way and Crashed the economy. And that was despite Nude Grinbitch and his House Repubs trying everything possible to Crash it under Clinton but failing to do so.
So, what was there to criticize about Clinton's economic stewardship? There was no Repub-style economic disaster resulting from it. But Repubs of his day sure warned us there would be. LOL. Pretty much the same way you and other current Repubs say the current crop of Democrats "have it wrong. ".
You think those ancient history Repubs in Kennedy's day weren't telling us the world will come to an end if he gets his way economically? The same for FDR? And most certainly for Clinton, Obama and now Biden?
Your beloved Repubs are ALWAYS wrong about how Dem economic policies and stewardship will destroy the world while theirs are superior. Always. And in the most polar opposite way. Obviously and according to any data and record of results you've got.
"A country is more prosperous when more money is left in the hands of its people and its businesses. ".
Lololol.
Except when Repubs like Coolidge / Hoover, Reagan, GW Bush and Trump decide who gets to keep more money in their hands and who gets to leave it to them. Then the country plunges into historic Great Depressions / Great Recessions and Massive Job Losses in the Millions.
Lolol.