The Feds Fiddles While America Burns

Frank Booth said:
I know. It should make you nostalgic for the Bill Clinton Presidency. You know, that Presidency from 1993-2000 when we had.....


-$2.7 trillion dollars of GDP growth (more than any President in history, and double that of Reagan).
-Real GDP growth at 3.9% per year, also better than St. Reagan.
-Unemployment dropped from 7.5% to 3.9%, a figure many economists thought was impossible in a developed economy (while participation increased by millions as well).
-Of the 23 million new jobs added (also far and away a record), 93%+ were in the private sector (something talk radio listeners should love).
-Household incomes grew 14% in real terms.
-7 Million less Americans in poverty, the largest decrease since the Eisenhower administration
-53% LESS welfare recipients (Reagan presided over a 24% increase)
-Record levels of business investment, corporate profits and stock market growth
-An unheard of 2.2% inflation rate during a period of historic economic growth
-A BUDGET SURPLUS OF $250B


Oh yeah - we weren't at war either. And violent crime started a unprecedented drop. Too bad Bubba got a blowjob, eh?
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What policies of Clinton led to such wonderful numbers?

The tech/internet/biotech booms were underway prior to Clinton taking office. The jobs growth in the private sector was largely due to the boom that began in the 1980's under Reagan and then continuing under Bush Sr.

You think Clinton was responsible for the business investment, corporate profits and stock market growth? Please demonstrate what policies he enacted that led to these.

Feel free to link us up to your data sources as well.
 
Frank Booth said:
Perhaps it is best to re-focus the mind of Robo in the more simplistic thought of Rush Limbaugh. Here is a quality Rush quote about the 1993 Budget act (you know, the one that was opposed by every Republican in congress and passed the Senate by a VP tie breaker)



Amazingly, increasing the top marginal rate (an act that very few tea-party shitheads will ever have to worry about effecting their finances) was somehow followed by the largest peacetime economic expansion in American history, the largest increase in the equity markets and investments in American history, and a budget surplus. Lots of us (many, many thousands of non-professional investors) made millions in very simple investments based on the American economy. Having a stable and funded government enhances the economy, and trust me, rich people will invest regardless. You can do your furious Google search all you want, but the bottom line is Bill Clinton had a superlative economic record, and part of that was based on raising taxes. He got it done, and the last GOP President really fucked it up.
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LMAO...

1) The economy was expanding rapidly due to the tech/telecom/biotech surge that began before Clinton took office.

2) You forget that the biggest part of the boom was after Clinton LOWERED cap gains taxes (which predominantly benefits who???)
 
https://en.wikipedia.org/wiki/Omnibus_Budget_Reconciliation_Act_of_1993




Specifics[edit]
Previously the top individual tax rate of 31% applied to all income over $51,900. The Act created a new bracket of 36% for income above $115,000, and 39.6% for income above $250,000.[2]
Previously, corporate income above $335,000 was taxed at 34%. The Act created new brackets of 35% for income from $10 million to $15 million, 38% for income from $15 million to $18.33 million, and 35% for income above $18.33 million.[3]
The 2.9% Medicare tax previously was capped to only apply to the first $135,000 of income. This cap was removed.
Transportation fuels taxes were raised by 4.3 cents per gallon.
The portion of Social Security benefits subject to income taxes was raised from 50% to 85%.[4]
The phase-out of the personal exemption and limit on itemized deductions were permanently extended.
The AMT tax rate was increased from 24% to tiered rates of 26% and 28%.[5]
Part IV Section 14131: Expansion of the Earned Income Tax Credit and added inflation adjustments
 
Ultimately every Republican in Congress voted against the bill, as did a number of Democrats. Vice President Al Gore broke a tie in the Senate on both the Senate bill and the conference report. The House bill passed 219-213 on Thursday, May 27, 1993.[1] The House passed the conference report on Thursday, August 5, 1993, by a vote of 218 to 216 (217 Democrats and 1 independent (Sanders (I-VT)) voting in favor; 41 Democrats and 175 Republicans voting against).[2] The Senate passed the conference report on the last day before their month's vacation, on Friday, August 6, 1993, by a vote of 51 to 50 (50 Democrats plus Vice President Gore voting in favor, 6 Democrats (Lautenberg (D-NJ), Bryan (D-NV), Nunn (D-GA), Johnston (D-LA), Boren (D-OK), and Shelby (D-AL) now (R-AL)) and 44 Republicans voting against). President Clinton signed the bill on August 10, 1993.
 
the CBO gave it the lions share of the credit for the surpluses you fucking limp dick lapper.



You have been told these FACTS many many times

your just a fucking evil piece of shit that lies right into the face of FACTS
 
your turd lipped lie bots said that legislation would destroy he country.




your fucks were completely fucking wrong yet again.



you just fucking lie about it
 
evince said:
the CBO gave it the lions share of the credit for the surpluses you fucking limp dick lapper.

You have been told these FACTS many many times

your just a fucking evil piece of shit that lies right into the face of FACTS
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Again you fucking retard... just because some government agency says something doesn't make it a fact.

Again you fucking retard... the economic boom was well underway due to the tech/telecom/biotech revolutions that began in the 1980's.

Again you fucking retard... there were NO ACTUAL SURPLUSSES... NONE

Again you fucking retard... if the 1993 act was so beneficial to the BUDGET (something created every year)... then WHY did it take almost five years to see a BUDGETED surplus. Oh yeah... because it took a Rep led Congress working with Clinton to actually BUDGET a surplus.
 
Superfreak said:
What policies of Clinton led to such wonderful numbers?

The tech/internet/biotech booms were underway prior to Clinton taking office. The jobs growth in the private sector was largely due to the boom that began in the 1980's under Reagan and then continuing under Bush Sr.

You think Clinton was responsible for the business investment, corporate profits and stock market growth? Please demonstrate what policies he enacted that led to these.

Feel free to link us up to your data sources as well.
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You love getting your ass kick
Beautiful deflecting moron
 
The Dude said:
You love getting your ass kick
Beautiful deflecting moron
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Do you know what the word deflecting means?

Asking someone for their data sources is not deflecting.
Asking someone what policies led to the numbers they posted (since they are giving credit to Clinton) is not deflecting.
Asking someone questions about their statements is not deflecting.

I would love for your GED ass to try and kick my ass on economics... do give it your best... I am sure you will do slightly better than Desh.
 
evince said:
https://en.wikipedia.org/wiki/Omnibus_Budget_Reconciliation_Act_of_1993




Specifics[edit]
Previously the top individual tax rate of 31% applied to all income over $51,900. The Act created a new bracket of 36% for income above $115,000, and 39.6% for income above $250,000.[2]
Previously, corporate income above $335,000 was taxed at 34%. The Act created new brackets of 35% for income from $10 million to $15 million, 38% for income from $15 million to $18.33 million, and 35% for income above $18.33 million.[3]
The 2.9% Medicare tax previously was capped to only apply to the first $135,000 of income. This cap was removed.
Transportation fuels taxes were raised by 4.3 cents per gallon.
The portion of Social Security benefits subject to income taxes was raised from 50% to 85%.[4]
The phase-out of the personal exemption and limit on itemized deductions were permanently extended.
The AMT tax rate was increased from 24% to tiered rates of 26% and 28%.[5]
Part IV Section 14131: Expansion of the Earned Income Tax Credit and added inflation adjustments
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:mindblown:
 
The Dude said:
Yeah tagging clintons economy to Reagan is brilliant
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1) The bull market did start under Reagan
2) The tech/telecom/biotech revolutions also began to bloom in the mid to late 1980's

I didn't say Clinton was horrible, but giving him credit for the boom is a bit absurd. Which is why I asked him to provide examples of Clinton policies that benefited the economy.
 
The Dude said:
I'll match Clinton and obamas stock markets vs the last two republican presidents.
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lol... and again... the stock boom that Clinton enjoyed was not a result of anything he did... other than his staying out of the way.

that said... your post above is a good example of actual deflecting.
 
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