Have tax cuts produced prosperity?

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Guns Guns Guns

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  • In 1921 & 1925, major taxes cuts were passed. In the following years a stock market bubble formed while working class wages stagnated, then in 1929 the bubble burst and the economy crashed into the Great Depression.


  • In 1981 a tax cut was passed. The economy sank deeper into recession and stayed in recession for nearly two years.


  • In 1987 major tax cuts were passed. By 1990 growth declined leading into the 1991 recession.


  • In 2001 a tax cut was passed, and another rebate was given in 2008.


  • From 2001 through 2008 the economy grew slower than it did in the preceding 8 while a bubble formed in stocks, housing, and executive salaries. In 2008 the bubble burst, and now the economy in sinking into the worst recession since the Great Depression.

http://conceptualmath.org/philo/taxgrowth.htm
 
bravo said:
What a waste....http://blog.beliefnet.com/stevenwaldman/2009/02/is-obamas-tax-cut-the-biggest.html http://money.cnn.com/2009/01/05/news/economy/obama_stimulus/index.htm
Click to expand...

True. Neither addresses the issue.

Poor Blabo.

In the last 50 years there were 5 tax cuts to the rich.

Three of them were followed by a decline in GDP growth, 3 were followed by a decline in employment growth.

The evidence suggests that tax cuts do not promote growth and probably promote decline.

In the last 50 years there was just one tax increase to the rich.

After that tax increase both the GDP and employment growth rates increased significantly.

The historical evidence suggests that an economic decline will follow a tax cut to the rich, and economic growth may follow a tax increase to the rich.


http://conceptualmath.org/philo/taxgrowth.htm
 
Trickle Down Tales


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