Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: HiTech RedNeck
Still waiting for you to answer the Gipper

Since you are not replying I'm going to assume you meant for me to explain rising federal revenue under President Reagan.

Since we are talking about income taxes we need to look at income tax revenue to the federal government. For reference I'm getting my data from this site.

In 1980 (numbers indicate millions) federal income tax receipts were $249. In 1988 federal income tax receipts were $413. That is an increase of 66%, not exactly a doubling of revenues.

Let's fast forward to Bill Clinton since he signed into law one of the biggest tax increases at that time. In 1992 federal income tax receipts were $476. When Clinton left office federal income tax receipts were $981. That was an increase of 113%, nearly double the increase of during Reagan's 8 year term.

Ok, income tax receipts did rise under Reagan, but was the cut to marginal income tax rates the cause? Highly doubtful. If you look at any 10 year period income tax revenue nearly doubles just through natural population changes and economic growth.

If you say you are for starving the federal beast and you believe lower income tax rates causes increased revenue shouldn't you logically be politicking to have rates increased in order to cause less revenue to go the federal government?

And as for tha Laffer Curve how do you know we are still on the right hand side of the top of the curve? If we were on the left hand side of the top would you advocate for higher marginal tax rates?

One last thing, if lower marginal rates leads to higher economic growth maybe you can look through this congressional Research Service report and address the fact that as income tax rates have been lowered the rate of GDP growth has gone down as well?

55 posted on 11/19/2012 7:03:32 AM PST by ksen
[ Post Reply | Private Reply | To 53 | View Replies ]


To: ksen

You sure say a lot of ifs, meaning you really don’t know squat about me whom you are so quick to condemn.


56 posted on 11/19/2012 11:43:12 AM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
[ Post Reply | Private Reply | To 55 | View Replies ]

To: ksen

I am also concerned that you cite Bill Clinton, who rode a tech boom that was worldwide, not just a fluke of some supposedly marvelous American tax rate policy.


57 posted on 11/19/2012 11:50:15 AM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
[ Post Reply | Private Reply | To 55 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson