Tuesday, June 5, 2012
Yet More Graphs Showing It's Not Spending, It's Revenue That Is Causing the Problems
We are spending less per capita today than at any time since 1954, when the top tax rate was 90%. Reagonomics promised us that lower tax rates on the uber rich would produce rapid job creation and increased revenues. What they produced was a decade of no job growth, unprecedented income inequality, massive deficits, and 4 of the last 4 recessions, including 2 of the deepest economic downturns in our nation's history, the Reagan Recession of 1982 and the George W. Bush Great Recession of 2007-2009. Again proving the maxim that only two things grow when Republican economic and tax policies are in effect, unemployment and the national debt.
see also: http://bureaucountydems.blogspot.com/p/national-debt.html (see 5th graph)