ScipioCowboy
Practice Squad
- Messages
- 487
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President
A. Ronald Reagan
B. Bill Clinton
C. George W. Bush
D. Barack Obama
Policy
1) Sought to stimulate the economy by having the FED print up money ex nihilo. This money was given to bankers where it was supposed to be distributed to people seeking loans. Offered various subsidies and tax breaks to corporations.
2) Reformed the tax code such that the top 1 percent of wage earners paid a progressively higher percentage of total income tax revenue during his time in office (from 17.4 percent to 24.4 percent). Exempted the bottom one-fifth of wage earners from even paying federal income taxes. Simplified the tax code by removing many of the subsidies and breaks of which corporations and the rich take advantage. Indexed the capital gains tax rate to the top marginal tax rate.
3) Sought to stimulate the economy in the form of tax rebate checks, most of which went to lower income earners. However, since the bottom two-fifths of wage earners don't pay federal income taxes, the rebated tax money came mostly from upper income earners. In essence, money was being taken from the rich and given to the poor.
4) Reformed the tax code so that the capital gains tax rate was not indexed to the top marginal rate, and then decreased the capital gains tax rate so it was lower than the top marginal rate (i.e. Warren Buffet now pays a lower tax rate than his secretary). Reformed the welfare system, removing millions of people from the rolls. Signed the Graham-Leach-Bliley Act, which many economists blame for the Housing Crisis.
A. Ronald Reagan
B. Bill Clinton
C. George W. Bush
D. Barack Obama
Policy
1) Sought to stimulate the economy by having the FED print up money ex nihilo. This money was given to bankers where it was supposed to be distributed to people seeking loans. Offered various subsidies and tax breaks to corporations.
2) Reformed the tax code such that the top 1 percent of wage earners paid a progressively higher percentage of total income tax revenue during his time in office (from 17.4 percent to 24.4 percent). Exempted the bottom one-fifth of wage earners from even paying federal income taxes. Simplified the tax code by removing many of the subsidies and breaks of which corporations and the rich take advantage. Indexed the capital gains tax rate to the top marginal tax rate.
3) Sought to stimulate the economy in the form of tax rebate checks, most of which went to lower income earners. However, since the bottom two-fifths of wage earners don't pay federal income taxes, the rebated tax money came mostly from upper income earners. In essence, money was being taken from the rich and given to the poor.
4) Reformed the tax code so that the capital gains tax rate was not indexed to the top marginal rate, and then decreased the capital gains tax rate so it was lower than the top marginal rate (i.e. Warren Buffet now pays a lower tax rate than his secretary). Reformed the welfare system, removing millions of people from the rolls. Signed the Graham-Leach-Bliley Act, which many economists blame for the Housing Crisis.
