Saturday, February 2, 2013

clinton tax cut question

was the 1997 tax cut a capital gains tax cut only?? thats misleading to call it the 1997 tax cuts -----its like saying 77% got a tax hike in the recent fiscal deal without mentioning that its the 2% Social Security Payroll tax--which was cut in 2010 and now expired---

http://economix.blogs.nytimes.com/2011/11/22/balancing-the-budget-for-real/  

""Republicans seldom talk about the balanced budgets of fiscal years 1998 through 2001, because they happened on Bill Clinton’s watch. They either pretend they didn’t happen, imply they occurred through some sort of “immaculate conception” unconnected to Clinton’s policies or  try to claim that the 1997 cut in the capital gains tax led to an outpouring of revenue that balanced the budget.""

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