At 10:59 PM 2/5/2003 -0600 Dan Minette wrote:
>> Indeed, from 1994 to 1999, capital gains reports under Adjusted Gross
>> Income more than tripled in nominal terms.
>
>That's because there was a capital gains tax cut in '97. It give folks a
>chance to cash in on their capital gains while paying minimal taxes.
If that was the predominant effect, it would have occurred in 1998, not
1999 - so that's not an explanation. I don't know what model would
support an increase in capital gains revenues due to "cash-ins" two years
after a capital gains tax cut.
Indeed, aren't tax cuts supposed to *decrease* revenues two years after the
cut in your mind?????
>Now, the Cato numbers were probably from the late '90s, so I'll be happy to
>agree that the average for Clinton was probably close to $40 billion in
>revenue. That's a small fraction of the $300 billion deficit.
O.k., war spending was a bigger portion of that than I had realized.....
But it is a very significant portion of whatever measly surplus Clinton
managed to engineer with what you described as his "balance between
spending and taxes."
>"If you want to live like a Republican, vote Democratic." :-)
Yeah, Johnson and Carter were both Economic Superstars, right? Oh yes,
and the Clinton Recession/slow-down is now about to complete its second
year. But obviously, we all would be wealthy if we had just given Clinton
a third term, right?
JDG - But then again, this stuff isn't exactly science, right?
_______________________________________________________
John D. Giorgis - [EMAIL PROTECTED]
"The liberty we prize is not America's gift to the world,
it is God's gift to humanity." - George W. Bush 1/29/03
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