Message from @Neco2040
Discord ID: 543173620915109901
Clinton cut taxes
He increased the top marginal tax rate
But we must see why the deficit went up
Spending
He cut a huge capital gains tax
he increased the standard deductions by a huge amount
he increased the amount for tax exemptions on property
and some others
Overall, he increased taxes on the rich
Bush tax cuts, revenue went up but spending also went uP
Considering he cut capital gains by 25%
And the effective tax rate went down
Not really.
Effective tax rate didn't go down
Hw Bush rose taxes actually
I'm talking on the rich btw, not people in general
Clinton did the opposite
Yes thats the rich
top 1% and 0.1%
Obama added to the debt aswell, which is another problem.
But Obama did not increase taxes
Obama cut the deficit in half
Clearly not, when effective taxes fell
But he didn't increase taxes
he extended the Bush tax cuts
which is where your argument immediately falls apart
As revenue rose aswell
He increased the top marginal tax rate
No he didn't
He kept the middle class tax cuts
Yes, he did
The top marginal rate was increased from 35% to 39%
No he didn't.
Hw Bush rose taxes and Clinton cut taxes
as the effective tax rate fell
so in effect you admit the tax cuts helped
and didn't cause a deficit
Reagan cut taxes and tax revenue boomed up, but he increased spending.