Councilman
DP Veteran
- Joined
- Apr 25, 2009
- Messages
- 4,454
- Reaction score
- 1,657
- Location
- Riverside, County, CA.
- Gender
- Male
- Political Leaning
- Conservative
One last post on this thread in answer to the BOGUS revisionist claims that Reagan caused some kind of economic problems here are some facts you can either digest or choke on.
And think about the Leader of the Trifecta Of Doom, Obama's plans to tax hell out of us. Then get a grip and and help save us from the coming disaster and vote the bums out in Nov.
Fact: Interest rates eased after Reagan slashed tax rates.
The long-bond yield was 13.45 percent in 1981. By the time Reagan left office in 1989, it had dropped to 8.45 percent. Mortgage rates fell from 14.70 percent to 10.13 percent over the same period.
Fact: Inflation cooled.
In the year before Reagan's tax cuts took effect, the annual rate of consumer inflation was 13.5 percent. In the first year of his tax cut, 1981, inflation was 10.3 percent. In the second year, it was 6.2 percent. By the third and final year, 1983, inflation had dropped to 3.2 percent. When Reagan left office, inflation stood at a tame 4.8 percent.
Fact: The economy reached full employment.
Before Reagan's full tax-relief package took effect, the jobless rate hit 9.6 percent. But as tax cuts worked their magic in the economy, unemployment dropped every year after 1983, reaching a low of 5.3 percent in 1989.
Tax cuts benefited minorities, too. The jobless rate among blacks plunged from 19.5 percent in 1983 to 11.4 percent in 1989.
Fact: Government revenues nearly doubled after Reagan's sweeping tax cuts.
Before his 25 percent across-the-board cut in individual income-tax rates went into effect, government receipts from individual income taxes trickled in at $244.1 billion. The year Reagan left office, they totaled $445.7 billion -- an 82 percent jump.
In the tax-hiking, supposedly "fiscally responsible" '90s, by comparison, individual tax receipts rose a comparable 86 percent.
More key, individual tax receipts grew at a compound annual rate of 6.9 percent from 1980 to 1989 (compared with a 7.1 percent rate from 1990 to 1999).
Councilman out.
And think about the Leader of the Trifecta Of Doom, Obama's plans to tax hell out of us. Then get a grip and and help save us from the coming disaster and vote the bums out in Nov.
Fact: Interest rates eased after Reagan slashed tax rates.
The long-bond yield was 13.45 percent in 1981. By the time Reagan left office in 1989, it had dropped to 8.45 percent. Mortgage rates fell from 14.70 percent to 10.13 percent over the same period.
Fact: Inflation cooled.
In the year before Reagan's tax cuts took effect, the annual rate of consumer inflation was 13.5 percent. In the first year of his tax cut, 1981, inflation was 10.3 percent. In the second year, it was 6.2 percent. By the third and final year, 1983, inflation had dropped to 3.2 percent. When Reagan left office, inflation stood at a tame 4.8 percent.
Fact: The economy reached full employment.
Before Reagan's full tax-relief package took effect, the jobless rate hit 9.6 percent. But as tax cuts worked their magic in the economy, unemployment dropped every year after 1983, reaching a low of 5.3 percent in 1989.
Tax cuts benefited minorities, too. The jobless rate among blacks plunged from 19.5 percent in 1983 to 11.4 percent in 1989.
Fact: Government revenues nearly doubled after Reagan's sweeping tax cuts.
Before his 25 percent across-the-board cut in individual income-tax rates went into effect, government receipts from individual income taxes trickled in at $244.1 billion. The year Reagan left office, they totaled $445.7 billion -- an 82 percent jump.
In the tax-hiking, supposedly "fiscally responsible" '90s, by comparison, individual tax receipts rose a comparable 86 percent.
More key, individual tax receipts grew at a compound annual rate of 6.9 percent from 1980 to 1989 (compared with a 7.1 percent rate from 1990 to 1999).
Councilman out.