During Ronald Reagan’s presidency, the top marginal rate on personal incomes dropped to 28% from 70%. In 1993 Bill Clinton raised the top tax rate to 39.6%. In 2001 George Bush pushed the top rate back down to 35% and cut the rate on capital gains and dividends to 15%. Last week former Clinton Treasury Secretary Robert Rubin exhorted the Democrats to raise taxes “to solve the nation’s fiscal problems.”

The Rubin Solution may not be easy. Even a Democratic Congress might realize that raising taxes today is swimming against the global tides. In reversing the Clinton tax increases, passed in another age 13 years ago, and spreading tax cuts to the financial sector, George Bush has driven the roots of the Reagan tax philosophy deeper. If he resists a grand compromise on entitlements that raises taxes, it may prove to be his most enduring legacy.

You see, what economist neophytes like shiloh doesn’t understand is that even if the highly unlikeley scenerio of 0% economic growth was factored in, the tax cuts afforded to the next generation alone offsets the deficit imposed upon them today.

Bottom line: tax cuts are a win/win scenerio. If followed by a decrease in governement size, it is win/win/win. this is something that many folks do not comprehend, especially those who believe in the entitlement society.

What amazes me is those that praise Kennedy in one breath and curse Reagan in the next.

Also, both were great men, and history has shown they were great Presidents.

You get the extra credit points for picking up on this! That is a secret that the left doesn’t want you to know!:wink:

I found this interesting in the responses:

“you know how much faith i put in upper class middle aged white women when they try to teach me abouot the economy, deficit spending, racism, poverty & government competence.”

I am wondering exactly what makes shiloh such an expert on any of these topics? Better yet, what exactly shiloh stated above would disqualify you from knowing about any of those stated topics? In my mind, what disqualifies shiloh is his/her tendancy to use such ad hominen attacks. That is a sure sign of ignorance.

For me, I grew up in poverty, so I can assume to know a bit about it. I know about government incompetence also as I have experienced it first hand. I also experienced the tide of growth President Reagen’s policies implemented, the fact that those policies led to virtually no cost to our children and the fact that some of President Bush’s similar policy has had sucessful results similar to the two other sucessful times such policies were implemented by both President Bush and President Kennedy.

Yes- this type of economics wa sucessfully first implemented by President Kennedy.