The way I remember it, Clinton raised taxes on the top 1 or 2%, plus got rid of some loopholes for the rich also. He eliminated or raised the Medicare cap (I don’t remember clearly) and he reduced capital gains tax. Feel free to correct me, I don’t feel strongly I have this right.
He also made it part of his policy that if someone was asking for money for a program that it get defined how it would be paid for, and not just added into the budget.
Clinton definitely benefitted from the economy growing, which a big part was the dot coms and others in the technology sector.
If you go to the Clinton library the window displaying the budget books over the years during his precedence shows each book smaller and smaller over the years that he was in office. It’s significant when you see it visually.
I agree that Bush 1 had the smarts to raise taxes when we went to war, and for the life of me I don’t understand his son not doing it. Or, not going to war even better. His son counted on economic growth I guess, telling everyone to go out and buy things.
I’m not so sure Bush 1’s tax increases are to credit for what happened while Clinton was president. I think Clinton was going to make changes no matter what, but it seems what Bush did helped. Maybe only a Republican president could have passed tax increases at that time and Clinton would not have been able to raise taxes enough without what Bush did.
It was all over my TV how great Bush 1 was for raising taxes and putting the country first, and some of the banter just didn’t sit well with me, so I wanted to ask about it here. I have friends on Facebook saying negative things about Bush, not fond of the media rewriting his legacy, and the media seems to want to use Bush as a message to Trump supporters.