February 13, 2012
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- Jazz Concert Feb. 14 , 7:30 p.m.
- Kidzoocation Feb. 16
- Kidzoocation Feb. 17 , 10 a.m.
- Pancake Feed Feb. 18 , 8 a.m.
- Winter Farmer's Market Feb. 18 , 10 a.m.
- Polar Plunge Feb. 18 , 11:30 a.m.
- Granada Movie Night - Thelma & Louise (R) Feb. 18 , 7 p.m.
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GoodMorning (anonymous) says...
Here is my take on the budget surpluses at the end of the Clinton presidency. It is true the surplus did not total 3 trillion dollars. However, if the tax rates in place at the end of Clinton’s term had been allowed to continue, a very large amount would have accumulated during the Bush administration. Three trillion?... I do not know if that much, but close. What happened to the true surpluses at the end of Clinton's term and the possible 3 trillion dollar additional surplus? The Bush election team had floated some ideas during the election that they would use the surplus to “save Social Security.” After the election, Larry Lindsey, chair of the Council of Economic Advisors, wanted the money returned in the form of tax cuts and his posturing prevailed. Technically, I suspect the Bush administration wanted the tax cuts, and prevailed on Lindsey, not a leading economist, to make the suggestion. The Secretary of the Treasury, Paul O’Neill, preferred the social security option floated during the election. Eventually, O’Neill and Alan Greenspan suggested that any tax cuts be based on real increases in revenue, not wild guesses. Under their plan, tax cuts would follow after increased revenue targets had been met. The surpluses could have been distributed as tax credits as they developed. However, the Lindsey side believed an advanced tax cut would have more effect on consumer spending. In the end, the tax cut did not result in a sufficient increase in spending by consumers, did not lead to more profits and wages, and did not result in a healthy collection of taxes to maintain the Clinton surplus. There was no trickle down. Instead, the deficit increased and Social Security remains to be saved.
October 14, 2010 at 3:36 p.m. ( reply | permalink | suggest removal )
GoodMorning (anonymous) says...
Here is my take on the budget surpluses at the end of the Clinton presidency. It is true the surplus did not total 3 trillion dollars. However, if the tax rates in place at the end of Clinton’s term had been allowed to continue, a very large amount would have accumulated during the Bush administration. Three trillion?... I do not know if that much, but close. What happened to the true surpluses at the end of Clinton's term and the possible 3 trillion dollar additional surplus? The Bush election team had floated some ideas during the election that they would use the surplus to “save Social Security.” After the election, Larry Lindsey, chair of the Council of Economic Advisors, wanted the money returned in the form of tax cuts and his posturing prevailed. Technically, I suspect the Bush administration wanted the tax cuts, and prevailed on Lindsey, not a leading economist, to make the suggestion. The Secretary of the Treasury, Paul O’Neill, preferred the social security option floated during the election. Eventually, O’Neill and Alan Greenspan suggested that any tax cuts be based on real increases in revenue, not wild guesses. Under their plan, tax cuts would follow after increased revenue targets had been met. The surpluses could have been distributed as tax credits as they developed. However, the Lindsey side believed an advanced tax cut would have more effect on consumer spending. In the end, the tax cut did not result in a sufficient increase in spending by consumers, did not lead to more profits and wages, and did not result in a healthy collection of taxes to maintain the Clinton surplus. There was no trickle down. Instead, the deficit increased and Social Security remains to be saved
October 14, 2010 at 3:45 p.m. ( reply | permalink | suggest removal )
GoodMorning (anonymous) says...
Bill,
If your thinking is as fuzzy as your quotes, your thesis is in trouble.
Thomas Jefferson’s quote is considered an urban legend.
The John Adams quote was probably from Ben Franklin
The George Washington quote is described as “made up” by Washington scholars.
November 1, 2010 at 7:52 p.m. ( reply | permalink | suggest removal )