The End of Socialism?

[David Horn]

(09-26-2017, 03:26 PM)Warren Dew Wrote:

(09-26-2017, 12:30 PM)David Horn Wrote:

(09-26-2017, 11:40 AM)Warren Dew Wrote: Thank you for posting a graph that proves exactly what I said and in fact highlights the lack of any real recovery after the 2008 recession.

I blame Obama for not pushing this immediately and much harder.  After the whining and handwringing was over, the stimulus needed to restore the economy was turned into tax cuts ... as I noted.  Tax cuts never create growth, they just sound good in TV ads.

I also notice that you deleted the data point I cited for the big spike in '83: a huge tax increase.  At least Reagan understood that bad results need to be corrected.

If you would actually look at your own graph, you'd see that the spike in growth was already starting in 1982 before the supposed tax increase took effect.  Of course, you're also ignoring the fact that the supposed increase didn't actually increase any income tax rates in any bracket.

No, it corrected the massive drop in revenues from the Kemp-Roth tax cut. 

TEFRA in Wikipedia Wrote:The Office of Tax Analysis of the United States Department of the Treasury summarized the tax changes as follows:

• repealed scheduled increases in accelerated depreciation deductions
  
• tightened safe harbor leasing rules
  
• required taxpayers to reduce basis by 50% of investment tax credit
  
• instituted 10% withholding on dividends and interest paid to individuals
  
• tightened completed contract accounting rules
  
• increased FUTA wage base and tax rate

... but it didn't raise rates, per se.