Here's the entire argument that the column makes laid out in the first sentence:
One of the most dangerous myths that has infected the current debate over the direction of tax policy is the oft repeated claim that the tax increases under President Bill Clinton led to the boom of the 1990s.
Let's say that's true. It's not an argument I've ever made, but never mind. Let's accept without going into the actual facts and the evidence that it's true. Even accepting the argument it's clear from history that increasing taxes doesn't prevent economic growth. Clinton increased taxes, something that we're told will reduce growth but instead a boom happened! Let's take a trip down memory lane and see what the GOP had to say about the tax increase when it was enacted:
Rep. John Kasich (R-Ohio), 7/28/93: “This plan will not work. If it was to work, then I’d have to become a Democrat.” (N.B.: Kasich remains a Republican, despite the economic boom and surpluses of the Clinton years.)
Rep. Jim Ramstad (R-Minn.), 3/17/93: “[This] will stifle economic growth, destroy jobs, reduce revenues and increase the deficit.”
Rep. Cliff Stearns (R-Fla.), 3/17/93: “It will be the kind of impact that this country can’t absorb. It will slow economic growth, contribute to the massive federal deficit.”
Rep. Christopher Cox (R-Calif.), 5/27/93: “This is really the Dr. Kevorkian plan for our economy.”
Rep. Dick Armey (R-Texas), 8/2/93: “The impact on job creation is going to be devastating, and the American young people in particular will suffer a fairly substantial deferment of their lives because there simply won’t be jobs for the next two to three years to go around to our young graduates across the country.”
Rep. Joel Hefley (R-Colo.), 8/4/93: “[This] will raise your taxes, increase the deficit and kill over 1 million jobs.”
Rep. Newt Gingrich (R-Ga.), 8/5/93: “I believe this will lead to a recession next year. This is the Democrat machine’s recession, and each one of them will be held personally accountable.”
Rep. Armey, 8/5/93: “The economy will sputter along. Dreams will be put off and all this for the hollow promise of deficit reduction and magical theories of lower interest rates. Like so many of the president’s past promises, deficit reduction will be another cruel hoax.”
Rep. Jim Bunning (R-Ky.), 8/5/93: “It will not cut the deficit. It will not create jobs. And it will not cut spending.”
Rep. Robert Dornan (R-Calif.), 8/5/93: “The problem with our economy is that there is too little employment and too little growth. This plan will do nothing to improve that condition and will actually make it worse.”
Rep. Thomas Ewing (R-Ill.), 8/5/93: “This bill is a disaster waiting to happen.”
Rep. Phil Crane (R-Ill.), 3/18/93: “[This bill is] a recipe for economic and fiscal disaster.”
And finally, Kasich again, 8/5/93: “Do you know what? This is your package. We will come back here next year and try to help you when this puts the economy in the gutter.”
Bookmarks