Bye Bye, Jack
Jack Kemp died a couple of days ago. I can't believe the kindness directed toward this guy, even from liberal sites.
From Economic Expert.Com, this comment about the Kemp-Roth tax cuts, his most famous piece of legislation:
"The Kemp-Roth Tax Cut (officially the Economic Recovery Tax Act, or ERTA) of 1981 reduced marginal income tax in the United States rates by approximately 25% over three years (the top rate falling to 50% from 70% while the bottom rate dropped to 11% from 14%) and indexed them for inflation (though indexing was delayed until 1985). Its sponsors, Representative Jack Kemp and Senator William Roth, had hoped for more significant tax cuts.Critics blame the tax cuts for the deficits in the budget of the United States government in the 1980s and early 1990s. Supporters credit them with helping the 1980s economic expansion. Supporters of the tax cuts also argue, using the Laffer curve, that the tax cuts increased government revenue. This is hotly disputed...."
By "hotly disputed," they mean, Democratic facts on one side, Republican lies on the other- same as always. Yes, this was one of the key players in the Reagan era scheme to swindle the American people into giving all their money to the rich. Since this still makes up the only real interest of the Republican party, it is very improvident of us to suggest that Kemp was anything other than one more garden-variety Republican crook.
From Economic Expert.Com, this comment about the Kemp-Roth tax cuts, his most famous piece of legislation:
"The Kemp-Roth Tax Cut (officially the Economic Recovery Tax Act, or ERTA) of 1981 reduced marginal income tax in the United States rates by approximately 25% over three years (the top rate falling to 50% from 70% while the bottom rate dropped to 11% from 14%) and indexed them for inflation (though indexing was delayed until 1985). Its sponsors, Representative Jack Kemp and Senator William Roth, had hoped for more significant tax cuts.Critics blame the tax cuts for the deficits in the budget of the United States government in the 1980s and early 1990s. Supporters credit them with helping the 1980s economic expansion. Supporters of the tax cuts also argue, using the Laffer curve, that the tax cuts increased government revenue. This is hotly disputed...."
By "hotly disputed," they mean, Democratic facts on one side, Republican lies on the other- same as always. Yes, this was one of the key players in the Reagan era scheme to swindle the American people into giving all their money to the rich. Since this still makes up the only real interest of the Republican party, it is very improvident of us to suggest that Kemp was anything other than one more garden-variety Republican crook.
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