|You do realize Reagan setup the LOWER TAX Economy
to be business-friendly & nurturing to the HighTech Boom
that started in the mid '80's...
What Reagan did, was enact-middle class tax cuts, and absolutely crush tax loopholes (including the brackets) and tax breaks for the rich, while also reducing their basal tax rate. The result was only a very small decrease in tax revenues. In fact, IIRC, the top 1% paid almost twice as much in taxes after Reagan's tax cuts. Reagan also increased taxes 11? times after the initial decreases...he also imposed the gasoline tax, raised the corporate tax rate to its highest in history, crushed corporate tax loopholes (that BCB reopened), etc. It was Reagan who made it so no family making below the poverty line paid any taxes...a far cry from the Republican party of today what serves the rich.
In regards to the economy of the 90s:
What Reagan, Carter, Ford, Johnson, Nixon, Kennedy, etc. had done, was greatly fuel public-sector research. They poured money into DARPA and various other programs.
If the government did anything that helped foster the tech boom of the 90s, it was the great investment into research during the Cold War.
The tax cuts for the middle-class definitely helped put money in the hands of your average American, but the technology that fueled the boom (including the internet, cellular phones, etc.) came from government research.
|Clinton DAMN near KILLED it with his HUGE '93 TAXATION when
he took over. The economy was strong enough to survive
it and flourished until the inevitable crash in 1999.
He increased the top tax rate from 31% to 36% and 39%. Huge taxation, my foot.
He also LOWERED the corporate tax rate from 42 to 35% compared to Reagan (unchanged compared to Bush the first). He also lowered government spending significantly.
|Gov't is a
PARASITE on business since it produces ZERO wealth. Today
we are still suffering from his tax policies. O' Boy wants MORE
of the same.
Of course government can produce wealth. In some cases, not as much as the private sector, but it definitely can.
What would happen if the government decided to disband the armed forces? In that way, isn't "government spending" enormously stimulative and necessary for the economy.
What would happend if big, bad government decided to no longer have public schools. What would happen if the educated workforce dried up?