Quote:The tax cuts worked, just as they did for Reagan. Reagan's led to the biggest economic expansion in peacetime in modern history.
I'm trying to be nice to Ronald Reagan this week. (Family tradition of not speaking ill of the recent dead.) But, the Reagan expansion was the result of the dismal situation he walked into, (double digit inflation, some of us on this forum are old enough to remember that

, staggering Dow, intense competition from Japan) but his tax cuts and his spending cuts did nothing but fatten the wallets of the upper earners. (That sounds familiar.) The economy did grow but it had no where else to go. By the time he left office, the deficit was at it's highest (till George W.), spending had been cut by a whooping one percent and the economy had begun another slide.
George HW Bush didn't have a clue about economics, neither do I, I just report the news, so he did what Ron did. Cut Taxes. When that didn't do anything, he raised taxes, but too late. Giant deficits leaning on the economy, four more years of inflation and flat job rates put Bill Clinton in office,(Does the phrase "It's the economy, stupid." ring a bell with anyone?).
Bill, who I love to remind my Republican friends, passed his economic plan (with the higher taxes) without a single Republican vote and
he was the one who presided over the strongest eight years of economic growth ever and wiped out Ronald Reagan's red ink. Kneejerk voters, emphasis on jerk, voted in a bunch of Republican stiff-shifts at the mid-term election who then foisted a bogus and expensive series of investigations into the President, but not on his economic plan. Funny, maybe because that was working like a dream.