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1980 the fed deficit was soaring
Reagan campaigned on a singular promise: He’d to cut taxes, ESP the rich
He insisted benefits would quickly trickle down to everyone & supercharge the economy
Add social safety net cuts, GOP said it’d pay for itself https://www.motherjones.com/politics/2020/06/trumps-tax-cuts-were-a-disaster-naturally-republicans-want-even-more/
Reagan campaigned on a singular promise: He’d to cut taxes, ESP the rich
He insisted benefits would quickly trickle down to everyone & supercharge the economy
Add social safety net cuts, GOP said it’d pay for itself https://www.motherjones.com/politics/2020/06/trumps-tax-cuts-were-a-disaster-naturally-republicans-want-even-more/
They were wrong
The rich got lower taxes all right, but the economy flatlined & the deficit skyrocketed
In 1982 Reagan was forced to raise taxes to make up for his cuts & he continued raising them
The rich got lower taxes all right, but the economy flatlined & the deficit skyrocketed
In 1982 Reagan was forced to raise taxes to make up for his cuts & he continued raising them
1993
Bill Clinton passed a tax increase to reduce the deficit
Republicans said it would not
In fact, they said, it’d cripple the economy
They were wrong
The economy boomed
For the 1st time since the Roaring ’20s the deficit turned into a surplus for 4 consecutive years
Bill Clinton passed a tax increase to reduce the deficit
Republicans said it would not
In fact, they said, it’d cripple the economy
They were wrong
The economy boomed
For the 1st time since the Roaring ’20s the deficit turned into a surplus for 4 consecutive years
2001 & again in 2003—Bush passed a tax cut
Again, Republicans said it’d supercharge the economy & pay for itself
They were wrong
All we got was a jobless recovery & a housing bubble that wrecked the economy
It produced the worst economic downturn since the Great Depression
Again, Republicans said it’d supercharge the economy & pay for itself
They were wrong
All we got was a jobless recovery & a housing bubble that wrecked the economy
It produced the worst economic downturn since the Great Depression
2013
Part of the “fiscal cliff” negotiations, Obama forced GOP to accept a tax increase on high earners
Republicans insisted it would kill the economy
They were wrong
The deficit declined & President Obama produced the longest economic recovery in American history
Part of the “fiscal cliff” negotiations, Obama forced GOP to accept a tax increase on high earners
Republicans insisted it would kill the economy
They were wrong
The deficit declined & President Obama produced the longest economic recovery in American history
2017
Republicans passed yet another tax cut
This 1 primarily benefited corporations & the rich
GOP insisted it’d supercharge the economy & pay for itself
They were wrong
No—They lied
They knew the evidence of the past 40 years but they sold the public a bill of goods anyway
Republicans passed yet another tax cut
This 1 primarily benefited corporations & the rich
GOP insisted it’d supercharge the economy & pay for itself
They were wrong
No—They lied
They knew the evidence of the past 40 years but they sold the public a bill of goods anyway
2017 tax cut had to be supported by a farrago of dishonesty bc:
The public would never support a tax cut aimed primarily at making the rich richer & swelling the coffers of large corporations—which also benefited the rich
Why would they?
So Republicans had to lie
The public would never support a tax cut aimed primarily at making the rich richer & swelling the coffers of large corporations—which also benefited the rich
Why would they?
So Republicans had to lie
So Republicans had to lie
And this time they couldn’t rest with a single lie
Polls showed that voters were skeptical of their tax cut, so this time Republicans had to pile lie on top of lie.
And this time they couldn’t rest with a single lie
Polls showed that voters were skeptical of their tax cut, so this time Republicans had to pile lie on top of lie.
