--- In FairfieldLife@yahoogroups.com, tazarmfune <[EMAIL PROTECTED]> wrote: > > >>>> > When Reagan took office government revenues were around 500 billion a > year , give or take about 50 billion. Before taxes were raised again the > economy had expanded and revenues increased to about 1 trillion during > the Reagan administration. > >>>>> > > After his tax cuts, the country went into recession. > > And don't forget that Reagan instituted the largst tax increase in American > History (social securty issues). > > And he compiled more debt than all the previous presidents combined. > > >>>>>>>>>>> > Now under Bush there has been steady growth in the economy month by > month, pulled out of the Clinton recession,and again government revenues > have grown. I don't have the exact numbers in front of me but every now and > then I hear in the news where government revenues for a quarter were > bigger than were anticipated and caused the deficit to be less than > expected.
Historical tables can be found here http://www.whitehouse.gov/omb/budget/fy2005/hist.html Tax receipts declined in 2001, declined again in 2002, declined again in 2003, stabilized in 2004 and have grown in 2005. They would have declined anyway in 2001 due to stock bubble bursting, but hard to say real effect of bush tax cuts, growth has been real slow and economy grows on its own just with growth of pop. Receipts under Reagan did grow from about 500 billion to about 1 trillion, but expenditures grew even more than receipts. Of course you'll get a growing economy under those situations. Plus oil prices dropped dramatically and Volcker got interest rates down. All of this contributed to the growth. Economy is complicated, it grew under reagan tax cuts, bush1 tax increase and clinton tax increase. The debt was under 1 trillion when Reagan came in, now over 7 trillion. It's one thing to fiscally stimulate the economy with 1 trillion in debt and another now with 7 trillion. We have to be more responsible in how its done now. I'm not against tax cuts, rates were too high when Reagan came in. Also, social security rates have not come down and alternative minimum tax is hitting more people. Have rates really come down much for avg person? The key for me is fair rate reduction for everyone combined with fiscal discipline in spending. ------------------------ Yahoo! Groups Sponsor --------------------~--> Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM --------------------------------------------------------------------~-> To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
