|Re: Dems ready to push USA off ''fiscal cliff'' over tax increases (959531)|
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Re: Dems ready to push USA off ''fiscal cliff'' over tax increases
Posted by bingbong on Mon Jul 16 15:21:50 2012, in response to Re: Dems ready to push USA off ''fiscal cliff'' over tax increases, posted by Mitch45 on Mon Jul 16 14:43:21 2012.How then, was there such a broad-based economic expansion? The 80s tech boom affected nearly no one. (in fact, almost all of the 80s tech companies were gone by the 90s) It wasn't just tech. There were fundamental differences in tax structures which rewarded domestic investment and punishing rates on others. That not only created investment that produced domestic jobs but also created revenue.So we saw a Social Security surplus that would have funded the babyboomers retirement's (as we had already funded our parents') as well as provide an opportunity to pay down general fund debt had it not been squandered.
Despite higher tax rates, everyone did better.
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