clinton and 69 er uh 60 minutes

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  • Reply 81 of 87
    pfflampfflam Posts: 5,053member
    2cents:



    Those of us old enough to remember the end of the Reagan years and the Bush Sr years may remember what a dark despair ridden miserable place it felt like . . . it was the birth place of the 'yuppie' and the disparity twixt rich and poor seemed to be absolutely maximized and in your face . . . and I started the Reagan years with a vote FOR Reagan (though I don't think I actually voted though). . . I was a full on supporter . . . but reality has a way of changing one
  • Reply 82 of 87
    midwintermidwinter Posts: 10,060member
    Quote:

    Originally posted by pfflam

    2cents:



    Those of us old enough to remember the end of the Reagan years and the Bush Sr years may remember what a dark despair ridden miserable place it felt like . . . it was the birth place of the 'yuppie' and the disparity twixt rich and poor seemed to be absolutely maximized and in your face . . . and I started the Reagan years with a vote FOR Reagan (though I don't think I actually voted though). . . I was a full on supporter . . . but reality has a way of changing one




    Don't worry, pfflam. It's mourning in America again.
  • Reply 83 of 87
    jimmacjimmac Posts: 11,898member
    Quote:

    Originally posted by pfflam

    2cents:



    Those of us old enough to remember the end of the Reagan years and the Bush Sr years may remember what a dark despair ridden miserable place it felt like . . . it was the birth place of the 'yuppie' and the disparity twixt rich and poor seemed to be absolutely maximized and in your face . . . and I started the Reagan years with a vote FOR Reagan (though I don't think I actually voted though). . . I was a full on supporter . . . but reality has a way of changing one




    In respect to the Bush Sr. years that followed a quote from the movie " Flashback " made in 89' Starring Keifer Sutherland and Dennis Hopper



    " The truly needy and the truly greedy ".



    A very funny movie reflecting the times.
  • Reply 84 of 87
    Quote:

    Originally posted by BRussell

    . . . Do you know the only other time revenues have actually fallen since 1982? They didn't fall for the 1991 recession.



    So? The economic situation in 1991 wasn't anything like it was in the early '80s. . .
    Quote:

    . . . They fell in 2001, 2002, & 2003. That's the only time revenues have fallen three years in a row, AFAIK. Maybe the 2001 & 2002 revenue drops could have been caused by the recession. . .



    Ya think? The capital markets lost trillions of dollars in paper wealth. (The NASDAQ is STILL trading at less than half what it was in early 2000.) Is it really that surprising to you there was a revenue drop?
    Quote:

    . . . but supposedly the economy has been just great since 2002. So why did revenues fall in 2003?



    Going great since 2002? Who's made that claim? The recession officially ended in 2002 but the peak unemployment rate wasn't until June of 2003. As for why revenue would drop three years in a row, capital losses can be carried over into successive years.
  • Reply 85 of 87
    brussellbrussell Posts: 9,812member
    So tax cuts play no causal role whatsoever in revenue drops? I can't believe you really believe that. And the recession actually ended before the end of 2001, but we continued to have revenue drops in 2002 and 2003. You think that had nothing to do with cutting taxes? Look at table 2 from that link - we're now at the lowest level of revenue as a percent of GDP on that table, which starts in 1962. But that has nothing to do with government policies?
  • Reply 86 of 87
    Quote:

    Originally posted by BRussell

    So tax cuts play no causal role whatsoever in revenue drops? I can't believe you really believe that...



    I can't believe you really believe that a recession so deep that unemployment was in double digits (the recession of the early '80s) or an equities market collapse of several trillion dollars (this last recession) wouldn't cause a revenue drop. As for when the recession ended, it depends on who you ask. Some say it was only 8 months long and ended in November of 2001. Others say it lasted 10 months.
  • Reply 87 of 87
    brussellbrussell Posts: 9,812member
    Of course I believe those things would have an effect on revenues, and I stated so above. But you still evaded my question about whether a tax cut would cause a drop in revenues. Is it just coincidence that, empirically, the very times we've had big tax cuts, we've had a drop in revenues, or is there some causal relationship there?
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