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Edited on Fri Jan-11-08 01:32 PM by Zynx
Receipts outside the Social Security System
Clinton Years Receipts 1993: $842 billion Receipts 2001: $1.483 Trillion Growth: 76%
Bush Jr. Years Receipts 2001: $1.483 trillion Expected 2009: $ 2.086 trillion Growth: 40.6%
Reagan Years: Receipts 1981: $469 billion Receipts 1989: $727 billion Growth: 55%
Source: U.S. Government Printing Office
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Now as we all know, the Republicans claim that tax cuts lead to such economic growth that you will have more revenue than you would have had without them. Without getting into the discussion of the GDP growth itself, let's cut the crap and go right to the government revenue which they are claiming is the end result. As we can see, the Clinton years had far faster revenue growth than either the Reagan years or Bush II. This is even though he had a lower inflation rate, a fact that normally constrains government revenue growth.
I am starting more detailed work on this subject as it relates to my Economics degree, but this is a very quick summary.
If I used revenues including the Social Security system, the results are pretty much the same, but I prefer to focus on the General Fund as that is where fiscal policy takes place.
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