Thursday, July 12

Republicans Were Wrong in 1993 On The Effect Of Upper-Income Tax Increases

http://www.cagle.com/2012/07/republicans-were-wrong-in-1993-on-the-effect-of-upper-income-tax-increases/

"Republicans in 1993 claimed Bill Clinton's tax increase on the wealthy would screw the middle class and put people out of work. What happened? The unemployment rate dropped from 6.9%to 3.9%, the deficit fell every year and by the time Clinton left office, we were on track to eliminate the entirenational debt."

Are there really parallels we can draw from 93' and today? Namely what comes to mind us the huge tech bubble that the 90s had while we are left with failed wars and a corrupt financial sector.