The Logic Lifeline

A logical approach to sorting out world events. Where logic, opinion and speculation are combined to produce a reasoned, but entertaining reading experience. The unofficial hometown conservative blog of Woodridge, Il

Wednesday, October 12, 2005

Air America host claims taxing the rich key to robust economy

Citing Clinton's tax hike on the rich and the ensuing economy boom, Air America host Randi Rhodes yesterday actually claimed that the that the two were actually linked. She suggests a repeat of economic prosperity could be accomplished by once again raising taxes on the rich. She overlooks the high taxes under Carter that killed the economy, the economic boom after Reagan cut taxes across the board, the recession that occurred after Bush 41 broke his 'no new taxes' pledge. She also misses the blunting of the edge of the recession and a relatively quick return to low unemployment after Bush 43 cut taxes across the board.

Liberals love to give Clinton credit for the economic boom of the '90s. Rhodes correctly points out that the only economic policy Clinton had was to raise taxes. However, it is ridiculous to claim that cause and effect. The real reason for the economic boom of the '90s was that the Reagan tax cuts of the '80s were like a petri dish with just the right conditions resulting so that when the dot com technology came down the pike, the economy could do nothing but take off.

If the Dems want to jump on Rhodes' bandwagon and name raising taxes on the rich as the way to economic prosperity I would welcome that plank in their platform. A promise to raise taxes has always resulted in a lost election. Even Clinton knew he had to lie and promise a middle class tax cut in order to get elected. Then a month after he assumed office, he claims he tried harder than anything in his life to find a way to cut taxes for the middle class and he just couldn't.

Now that is another important point. As I said Libs love to give Clinton credit for the economic boom. If Clinton actually had policies in place he thought would produce such an economy, keeping the promise of a middle class tax cut would not have been a big deal. So he had no plan for the economy that he had faith in would work. This drives home the point that Clinton had nothing to do with the boom of the '90s.

By the way, I have no link. I was listening to Rhodes between commercials on the two conservative stations so I heard it myself.

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