If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(The New York Times)   Reagan adviser to GOP: You can believe raising taxes is always bad for the economy, but only if you can explain the Clinton boom   (economix.blogs.nytimes.com) divider line 303
    More: Interesting, GOP  
•       •       •

3724 clicks; posted to Politics » on 06 Aug 2012 at 1:35 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



303 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

Archived thread

First | « | 1 | 2 | 3 | 4 | 5 | 6 | 7 | » | Last | Show all
 
2012-08-06 09:52:20 AM  
Or those tax increases Reagan signed.
 
2012-08-06 10:01:03 AM  
The Clinton boom was explained by the stock market anticipating a Bush presidency.
 
2012-08-06 10:04:04 AM  
Bruce Bartlett and Barry Ritholtz are both essential daily reads for anyone into politics or economics. Brilliant people.
 
2012-08-06 10:28:23 AM  
The Clinton boom was the result of GHW Bush's policies and the Gingrich-led Congress keeping the tax & spend Clintonite Democrats in check. The recession during W's administration was a result of the Clinton high taxes taking effect. Just like 9/11 was a failure of Clinton's foreign policy and being soft on terrorism. Any upswing we've seen in the last 3+ years has been the residual effects of W's policies of fiscal responsibility and the last 2 years of a Republican House. Now we're seeing onshmer confidence springing back because Americans are anticipating a Romney presidency.
 
2012-08-06 10:36:45 AM  

propasaurus: The Clinton boom was the result of GHW Bush's policies and the Gingrich-led Congress keeping the tax & spend Clintonite Democrats in check. The recession during W's administration was a result of the Clinton high taxes taking effect. Just like 9/11 was a failure of Clinton's foreign policy and being soft on terrorism. Any upswing we've seen in the last 3+ years has been the residual effects of W's policies of fiscal responsibility and the last 2 years of a Republican House. Now we're seeing onshmer confidence springing back because Americans are anticipating a Romney presidency.


Ok... but who's onshmer?
 
2012-08-06 10:40:30 AM  
Same reason why the economy rocked during the industrial revolution. The Internet/computer (or digital) revolution brought upon a time of significant investing in new technologies. While a lot of it was real growth, most of it was just a bubble
 
2012-08-06 10:51:30 AM  

MaudlinMutantMollusk: propasaurus: The Clinton boom was the result of GHW Bush's policies and the Gingrich-led Congress keeping the tax & spend Clintonite Democrats in check. The recession during W's administration was a result of the Clinton high taxes taking effect. Just like 9/11 was a failure of Clinton's foreign policy and being soft on terrorism. Any upswing we've seen in the last 3+ years has been the residual effects of W's policies of fiscal responsibility and the last 2 years of a Republican House. Now we're seeing onshmer CONSUMER confidence springing back because Americans are anticipating a Romney presidency.

Ok... but who's onshmer?


Bah.
 
2012-08-06 12:39:50 PM  

propasaurus: The Clinton boom was the result of GHW Bush's policies and the Gingrich-led Congress keeping the tax & spend Clintonite Democrats in check. The recession during W's administration was a result of the Clinton high taxes taking effect. Just like 9/11 was a failure of Clinton's foreign policy and being soft on terrorism. Any upswing we've seen in the last 3+ years has been the residual effects of W's policies of fiscal responsibility and the last 2 years of a Republican House. Now we're seeing onshmer confidence springing back because Americans are anticipating a Romney presidency.


Wow.

I'm amazed that you have enough brainpower to even breath on your own.
 
2012-08-06 12:57:16 PM  
Wouldn't it all depend upon what the gummint did with the tax revenue?
 
2012-08-06 12:59:59 PM  

DjangoStonereaver: I'm amazed that you have enough brainpower to even breath on your own.


I'm amazed how immune everyone on these goddamn boards are to sarcasm.
 
2012-08-06 01:07:19 PM  
I think the so called "Clinton boom" was actually caused by the end of the cold war and the beginnings of the internet age.
 
2012-08-06 01:17:36 PM  
Tax rates were even higher in the 1950s and that was possibly the most prosperous time in our country's history. It also allowed us to build the entire interstate highway system and start the space program.
 
2012-08-06 01:18:43 PM  

ricewater_stool: Tax rates were even higher in the 1950s and that was possibly the most prosperous time in our country's history. It also allowed us to build the entire interstate highway system and start the space program.


You know who else had an interstate highway system and the start of a space program?
 
2012-08-06 01:36:28 PM  

cman: Same reason why the economy rocked during the industrial revolution. The Internet/computer (or digital) revolution brought upon a time of significant investing in new technologies. While a lot of it was real growth, most of it was just a bubble


This. And that bubble popped before Clinton left office.

/Was laid off in the post-Y2K programmer glut.
 
2012-08-06 01:38:02 PM  

DjangoStonereaver: propasaurus: The Clinton boom was the result of GHW Bush's policies and the Gingrich-led Congress keeping the tax & spend Clintonite Democrats in check. The recession during W's administration was a result of the Clinton high taxes taking effect. Just like 9/11 was a failure of Clinton's foreign policy and being soft on terrorism. Any upswing we've seen in the last 3+ years has been the residual effects of W's policies of fiscal responsibility and the last 2 years of a Republican House. Now we're seeing onshmer confidence springing back because Americans are anticipating a Romney presidency.

Wow.

I'm amazed that you have enough brainpower to even breath on your own.


The greatest tragedy of the troll infection on Fark is the ongoing inability of most people on these boards to recognize a good, old-fashioned joke. Happens to me, too.
 
2012-08-06 01:40:06 PM  

kronicfeld: DjangoStonereaver: I'm amazed that you have enough brainpower to even breath on your own.

I'm amazed how immune everyone on these goddamn boards are to sarcasm.


The sad thing is the original comment could easily pass as a deeply held belief of the Tea Party.
 
2012-08-06 01:40:49 PM  
The Tea Party needs to learn how our government, economy, and freedom works before they destroy our country.
 
2012-08-06 01:40:49 PM  
B...blowjobs? Is the answer blowjobs?
 
2012-08-06 01:41:44 PM  

Duke Phillips' Singing Bears: The greatest tragedy of the troll infection on Fark is the ongoing inability of most people on these boards to recognize a good, old-fashioned joke. Happens to me, too.


it helps to have more than a five-second memory of people's usernames
 
2012-08-06 01:41:57 PM  
Raising taxes is always bad for the economy as it takes money out of consumers hands. However, if the economy is good, it can probably absorb a modest tax increase assuming the additional revenue is used to bring the financial house back in order. This is usually the problem.
 
2012-08-06 01:42:08 PM  
Bartlett should save his breath, you can't convince the inbred base that the charlatans who are running their party have been lying to them for decades.

Reality has a liberal bias, they don't have the need to live in reality.
 
2012-08-06 01:42:08 PM  
i.imgur.com
 
2012-08-06 01:44:19 PM  
... but tax cuts are what economies crave.
 
2012-08-06 01:44:59 PM  
Well, Clinton never read Hayek or Mises, so Mittens is automatically president and Obama has to reenact "The Fountainhead" with finger puppets.
 
2012-08-06 01:45:17 PM  

Zeno-25: [i.imgur.com image 720x511]


So close tax loopholes for corporations and offshore accounting?
 
2012-08-06 01:45:19 PM  

Zeno-25: [i.imgur.com image 720x511]


The latter, right?
 
2012-08-06 01:45:50 PM  

HotWingConspiracy: B...blowjobs? Is the answer blowjobs?


I really hope the answer is blowjobs.
 
2012-08-06 01:45:58 PM  
Clearly, the boom came from Clinton's middle-class tax cut. The higher taxes on the rich must have just stopped the boom from being even bigger.
 
2012-08-06 01:46:14 PM  

Duke Phillips' Singing Bears: The greatest tragedy of the troll infection on Fark is the ongoing inability of most people on these boards to recognize a good, old-fashioned joke. Happens to me, too.


Don't be too mad at Django, he played a dwarf in D&D.

That being said, FARK really needs a sarcasm font modifier.
 
2012-08-06 01:47:43 PM  
"This requires Republicans to try to rewrite the economic history of that decade."


Challenge accepted.

(retroactively)
 
2012-08-06 01:48:58 PM  
Let me guess :

B/c of the previous 2 Republican administration?
 
2012-08-06 01:49:05 PM  

kronicfeld: DjangoStonereaver: I'm amazed that you have enough brainpower to even breath on your own.

I'm amazed how immune everyone on these goddamn boards are to sarcasm.


Truthiness is stronger than sarcasm. I'm reminded of my introduction to Landover Baptist Church's site. Having been raised in the mid-West, I thought it was a real church. And somewhat moderate at that.
 
2012-08-06 01:49:20 PM  

zarberg: Duke Phillips' Singing Bears: The greatest tragedy of the troll infection on Fark is the ongoing inability of most people on these boards to recognize a good, old-fashioned joke. Happens to me, too.

Don't be too mad at Django, he played a dwarf in D&D.


A dwarven sorcerer, which was the closest thing I could think of to a damn hippie among dwarven
kind.

With a thing for elf chicks.

That being said, FARK really needs a sarcasm font modifier.

I forgot to apply Poe's law directly to my forehead.
 
2012-08-06 01:49:24 PM  
One day liberals will learn that, while a small factor, tax rates and who the president is are not primary factors in economic expansions. One day.
 
2012-08-06 01:50:05 PM  
The "Clinton Boom" explained... ...sorta

1. The end/wrap-up of the Savings and Loan Bail-out at the end of the 1980s in the 1990s.
2. Increased IT spending in anticipation of the Y2Kpocalypse.
3. The Dot-Com boom.
4. China promoted to most favored nation trade status.
...among other factors.

* Bush 1 was fired for bringing on the largest tax increase in history: $500 Billion.
* The dems in Congress were fired for doing it again: Another $500 Billion increase (net $1 Trillion roughly).
* The net effect of Bush 2's tax cuts was about reducing those tax increases by one-third, or $350 Billion.

The economy grew despite the tax increases because of the opportunities that existed (especially Y2K and the internet). Those fizzled going into 2001. W's cuts stimulated economic growth until the housing crisis blew up the economy (a natural market correction to the unintended consequences of government action coupled with horrific investment strategies to mask high-risk investments).

Hey, if the Clinton years were so great, why not go back to the spending levels of the latter 1990s as well?

The solution is to have a flexible tax rate that can be adjusted (up or down, modestly) as we can with interest rates. Implement gradual increases as the economy grows and decreases as the economy stabelizes or slows. The balanced budgets of the 1990s was due to fiscal restraint, sure, but also because these two tax increases were still in effect. W's tax cuts helped, but RIGHT NOW we need to overhaul the tax code.

Unfortunately, we are spending our nation out of existence (bi-partisan blame for all). I hear Costa Rica's nice.


Oh, wait - shoot. This is a Fark Politics thread: WHY DO I DO THIS TO MYSELF???
 
2012-08-06 01:50:23 PM  

cman: Same reason why the economy rocked during the industrial revolution. The Internet/computer (or digital) revolution brought upon a time of significant investing in new technologies. While a lot of it was real growth, most of it was just a bubble


But higher taxes are supposed to keep the Job Creators from creating jobs? How did they ever managed to create a boom while shackled under all that tax burden?

I know, maybe it's because we're still waaaaaaaay to the left of the optimum of the Laffer Curve. That is, if you believe in the validity of the Laffer Curve, which I'm assuming you do, because most of the arguments about lowering taxes ultimately come from that little bit of economic wankery.
 
2012-08-06 01:51:23 PM  

zarberg:

That being said, FARK really needs a sarcasm font modifier.


it's depressing cause it's true.Maybe if we took over the underused superscript option? Because, you know, it's Super!
 
2012-08-06 01:51:38 PM  

cman: Same reason why the economy rocked during the industrial revolution. The Internet/computer (or digital) revolution brought upon a time of significant investing in new technologies. While a lot of it was real growth, most of it was just a bubble


A lot of real growth came from the internet/computer revolution. What made the internet/computer revolution possible? Where did it arise from?

Biotechnology is another enormous rapidly growing field. What made that possible?

upload.wikimedia.org

The NSF. Also known as socialism.
 
2012-08-06 01:51:45 PM  
The Bush Boom, followed by the Clinton Recession, followed by the Bush Boom, followed by the Obama Recession
 
2012-08-06 01:52:40 PM  

Jodeo: W's tax cuts helped


Helped what? Put us in the mess we're in now?

Jodeo: Implement gradual increases as the economy grows and decreases as the economy stabelizes or slows.


Whoa, whoa, whoa, back the fark up. It sounds like you're talking... KEYNSIAN!

SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS!!!!
 
2012-08-06 01:53:34 PM  

propasaurus: The Clinton boom was the result of GHW Bush's policies and the Gingrich-led Congress keeping the tax & spend Clintonite Democrats in check. The recession during W's administration was a result of the Clinton high taxes taking effect. Just like 9/11 was a failure of Clinton's foreign policy and being soft on terrorism. Any upswing we've seen in the last 3+ years has been the residual effects of W's policies of fiscal responsibility and the last 2 years of a Republican House. Now we're seeing onshmer confidence springing back because Americans are anticipating a Romney presidency.


I like it.
 
2012-08-06 01:54:58 PM  

DjangoStonereaver: A dwarven sorcerer, which was the closest thing I could think of to a damn hippie among dwarven
kind.

With a thing for elf chicks.


Who used a horn of fog in the middle of a combat which obscured my view of being able to get 75% of the bad guys in a fireball!
 
2012-08-06 01:57:08 PM  

Jodeo: Oh, wait - shoot. This is a Fark Politics thread: WHY DO I DO THIS TO MYSELF???


The important thing is you have found a way to position yourself superior to anyone who replies to you.
 
2012-08-06 01:57:40 PM  
But liberals bad, subby! Liberals bad!

/I like how "tax and spend" is a considered a negative term
 
2012-08-06 01:58:07 PM  

Lost Thought 00: The Bush Boom, followed by the Clinton Recession, followed by the Bush Boom, followed by the Obama Recession


In my house, the Bush Boom is always followed by a cigarette.
 
2012-08-06 01:59:52 PM  

zarberg: DjangoStonereaver: A dwarven sorcerer, which was the closest thing I could think of to a damn hippie among dwarven
kind.

With a thing for elf chicks.

Who used a horn of fog in the middle of a combat which obscured my view of being able to get 75% of the bad guys in a fireball!


I SHOOT THE GAZEBO WITH MY BOW.
 
2012-08-06 01:59:55 PM  

zarberg: DjangoStonereaver: A dwarven sorcerer, which was the closest thing I could think of to a damn hippie among dwarven
kind.

With a thing for elf chicks.

Who used a horn of fog in the middle of a combat which obscured my view of being able to get 75% of the bad guys in a fireball!


You should have used the spell of Tax Cuts, (3rd level, standard action) then those bad guys would start a business and you could have used the ecomomic prosperity to solve all the world's problems.
 
2012-08-06 02:00:27 PM  
Deregulation of the communications industry in the 80s lead to an explosion in IT technology that created the internet and computing technology boom of the 90s in spite of higher taxes.

There, explained it in one sentence.
 
2012-08-06 02:01:29 PM  
According to the Congressional Budget Office, the federal budget deficit fell every year of the Clinton administration, from $290 billion in 1992 to $255 billion in 1993, $203 billion in 1994, $164 billion in 1995, $107 billion in 1996, and $22 billion in 1997. In 1998, there was a budget surplus of $69 billion, which rose to $126 billion in 1999 and $236 billion in 2000 before it was dissipated by huge tax cuts during the George W. Bush administration.

THAT is the most important part of the entire article, right there. There's a lot of good stuff, but too many forget about the surplus Clinton left behind when they factor in the current deficit into bitaching about Obama. Not only did Bush add trillions to the debt, he wiped away a $200 BILLION durplus on top of it.
 
2012-08-06 02:02:32 PM  
You guys have it all wrong. This is what it looks like just before you receive the "Clinton Boom."

2.bp.blogspot.com
 
Displayed 50 of 303 comments

First | « | 1 | 2 | 3 | 4 | 5 | 6 | 7 | » | Last | Show all

View Voting Results: Smartest and Funniest


This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
On Twitter





In Other Media


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report