Simpson:"Tax increases are necessary"
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  Simpson:"Tax increases are necessary"
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t_host1
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« Reply #25 on: April 20, 2011, 11:12:53 PM »

what was the %GDP of federal income tax in jan 1981 compared to jan 1989?

Fiscal Years 1980 to 2016         
Total Direct Revenue      Total Direct Revenue -fed   
      pct GDP   
1980      18.55   
1981      19.17   
1982      18.99   
1983      16.99   
1984      16.95   
1985      17.4   
1986      17.25   
1987      18.04   
1988      17.83   
1989      18.08   

so the economy boomed while federal taxes shrank....just as I thought it did.  the 1986 tax reform took away deductions for second mortgages, which is probably why you see an increase of ~1% following 1986

What happened to debt during the 80s?
  that was more of a result of a double dip recession

So the recession caused the debt but a "boom" wasn't able to bring us back to even? The 90's boom did.....I wonder why. Something Clinton did in 1994 that was also quite unpopular perhaps?
 

well... I know Clinton's humidor selection was unique.. humm

could it of been raising taxes on those old people?

Nope on the taxes,
stop the spending,
Big rule change on employer liabilities/responsibilities. 45% of the population supporting the balance... criminal.

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Swing low, sweet chariot. Comin' for to carry me home.
jmfcst
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« Reply #26 on: April 21, 2011, 11:09:31 AM »

So the recession caused the debt but a "boom" wasn't able to bring us back to even? The 90's boom did.....I wonder why. Something Clinton did in 1994 that was also quite unpopular perhaps?

yes, 20 years of boom (interrupted only by the mini-recession of 90) did eventually bring it back to even, but it took the ending of the cold war (credit Reagan), low inflation (credit Reagan), a Congress that was against giving money to those unwilling to work (credit Clinton being a total joke during his first two years), and hundreds of billions of dollars of tax revenue PER YEAR of short term capital gains to bring it into surplus.

But, since then, many things ignored during the preceding 40 years have come home to roost:  the ponzi scheme of social security and medicare (blame both Dems and GOP), loaning money to those unable to pay it back (sub prime mortgages, blame Dems - which STILL hasnt been fixed), the removal of the uptick rule (blame GOP), the unwillingness to tap our natural resources (blame tree huggers), and the idea that Muslim societies will eventually be brought into the civilized world (blame both Dems and GOP).

Oh, and BTW, those last two, the one about the Muslims and about us being energy dependent...we're only seeing the beginning of the trouble.  Within the next 10-20 years, maybe a lot sooner, there is going to come a war in the ME that will change your economic future forever.
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opebo
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« Reply #27 on: April 21, 2011, 11:20:20 AM »

yes, 20 years of boom (interrupted only by the mini-recession of 90) did eventually bring it back to even, but it took the ending of the cold war (credit Reagan), low inflation (credit Reagan), a Congress that was against giving money to those unwilling to work (credit Clinton being a total joke during his first two years), and hundreds of billions of dollars of tax revenue PER YEAR of short term capital gains to bring it into surplus.

But, since then, many things ignored during the preceding 40 years have come home to roost:  the ponzi scheme of social security and medicare (blame both Dems and GOP), loaning money to those unable to pay it back (sub prime mortgages, blame Dems - which STILL hasnt been fixed),

Dude, you have it precisely backwards - the 80s and the 90s undermined the prosperity established by Keynesian redistributionist economics over the previous five decades, leading to the total collapse of the 21st century.
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memphis
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« Reply #28 on: April 21, 2011, 07:59:48 PM »

yes, 20 years of boom (interrupted only by the mini-recession of 90) did eventually bring it back to even, but it took the ending of the cold war (credit Reagan), low inflation (credit Reagan), a Congress that was against giving money to those unwilling to work (credit Clinton being a total joke during his first two years), and hundreds of billions of dollars of tax revenue PER YEAR of short term capital gains to bring it into surplus.

But, since then, many things ignored during the preceding 40 years have come home to roost:  the ponzi scheme of social security and medicare (blame both Dems and GOP), loaning money to those unable to pay it back (sub prime mortgages, blame Dems - which STILL hasnt been fixed),

Dude, you have it precisely backwards - the 80s and the 90s undermined the prosperity established by Keynesian redistributionist economics over the previous five decades, leading to the total collapse of the 21st century.

Depends on whether you're at the 50th percentile or the 98th. Has there ever been a better time to be an owner? Productivity is astronomical, wages are stagnant at best, and well-qualified workers are falling all over themselves for crap jobs. It's the monopoly guy's wet dream.
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