Steve Chapman on Higher Taxes, Smaller Government

ab78d86cc31b2167243ba13e3808d141eb3c Steve Chapman on Higher Taxes, Smaller Government

Under Bill Clinton, income tax
rates rose. In fact, his critics reviled him for enacting “the
biggest tax increase in American history.” Yet the tax hike did not
open the spending floodgates, writes Steve Chapman. In
inflation-adjusted terms, federal outlays grew very slowly, and as
a share of the economy, they shrank dramatically—from 21.4 percent
to 18.2 percent, about what they were during the Eisenhower
administration.
Total federal expenditures grew by just 1.5 percent per year,
inflation-adjusted—40 percent less than under Reagan and 70 percent
less than under George W. Bush. View this article.

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Steve Chapman on Higher Taxes, Smaller Government


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