High taxes didn’t build that
- Nolan Finley
- 29 Comments
We don’t expect veracity from politicians, particularly when they’re on the campaign trail. But the whoppers President Barack Obama has been telling about taxes risk earning him the moniker President Pinocchio.
This past week the president told voters he wants to take tax policy back to the Clinton years, when rates were higher and the economy was flourishing.
But back then, everyone was paying higher tax rates.
Obama is targeting just higher earners — the investors, small business people and job creators. He’s selling the con that if their rates go up, Clinton-era prosperity will return.
He omits the obvious: High taxes didn’t build the strong economy of the 1990s.
It was fueled by a tech and real estate boom that eventually busted. The budget surplus Clinton left behind was a result of the expanding economy, and of the spending restraint…
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