On May 28, 10:06*am, Country wrote:
On May 28, 7:58*am, "
wrote:





On May 27, 9:59*pm, SMS wrote:

*When Reagan took office the economy was in shambles.
Perhaps you missed the era of stagflation, ie high inflation, high
unemployment and low economic growth. *There is no doubt in any
reasonable persons mind that cutting taxes created an unprecedented
economic boom. *That in turn lead to a 40% increase in federal
revenue and a revitalization of the American economy. *Had taxes
been left at 70%, you would have had 8 years of low economic
growth, high unemployment, and far less tax revenue.

The same thing happened in the early 60's when JFK cut taxes.
Back then there were reasonable Democrats who understood
economics. *Sadly, today that is long gone. *Today, like you,
they believe in a static model, where if a tax at a rate of 35%
brings in X revenue, then raising it to 70% will bring in 2X.
That fallacy has been demonstrated time and time again
by states raising a variety of taxes, whether on income or
cigarettes, etc, *and NOT getting the revenue expected.

OK, so Regan cut taxes and ran the country into the highest debt than
ever before and is worshiped like a God by conservatives.

Simple questions. During the Reagan years, did the Republicans
ever have control of the House? How many years did the
Republicans have control of the Senate?



Obama does the same and is treated like a pariah by the same people.

If only it were the same. In 1981 the budget deficit was 2.6% of
GDP.
It peaked a few years later at 6%. By 1989, the deficit was back down
to 2.6%. During the eight years of Reagan the deficit averaged 4.5%
of GDP.

Now let's look at the current situation. In 2009, the budget deficit
was
10% of GDP. In 2010, 9%. And for 2011 it's estimated to be 11%.
In other words, Obama is running deficits of 2 or 3 times those of
Reagan. And under Reagan, we saw the economy surge and boom.
Under Obama and the Dems, we're still waiting.....