Posted by: stiltsville | July 5, 2011

My memory is not so bad

As I recall, Ronald Reagan passed the largest tax increase in history, and the economy boomed. Bill Clinton passed the second largest tax increase in history, and the economy boomed.

President $/year % GDP
Reagan $37B 0.8
Clinton $32B 0.5

George Bush passed the largest tax cut in history, and look where we are now…

Source: Revenue Effects of Major Tax Bills

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

Follow

Get every new post delivered to your Inbox.

Join 283 other followers

%d bloggers like this: