Markus
2008-10-16 14:00:28
jb and Marc — You misunderstand me. I wasn’t claiming that the Clinton tax hikes caused the excellent economic growth of the nineties. All I meant was that they did not IMPEDE tech-boom driven growth, including the entrepreneurship associated with it.
Any tax increase under Obama is likely to have the same effect: negligible. Nobody who I respect claims that fiscal policy (taxes, spending) is primary engine of growth or recession. The purpsoe of taxing and spending is to pay for essential public services without burdening future generations.
