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Willisms

« Trivia Tidbit of the Day: Part 556 -- Obama Budgeting. | WILLisms.com | Trivia Tidbit of the Day: Part 558 -- Obama's Anti-Family Policies. »

Trivia Tidbit of the Day: Part 557 -- The Largest Tax Increase In American History.

Obama's Tax Hike-

obamataxhike.jpg
Between 1953 and 1982—a period of high tax rates, spending growth, and applied Keynesian eco­nomics—the economy was in recession 21 percent of the time, inflation reached 13 percent, interest rates hit 19 percent, and the stock market grew only 5.4 percent annually.

However, beginning around 1982, tax rates were dramatically reduced, and federal spending began decreasing as a share of the economy. In the 26 years following this major policy shift, the economy has been in recession only 10 percent of the time (including the current recession), inflation has never topped 5 percent, interest rates have never exceeded 12 percent, and the stock market (despite increased volatility) has soared 7.0 percent annually, even including the recent 50 percent drop.

Change!


-------------------------------------

Previous Trivia Tidbit: Obama's Budget.

Posted by Will Franklin · 19 March 2009 09:56 AM

Comments

Cha Ching Change! Socialism from our brand new shiny Socialist Leader! ONE TERM PLEASE!!!! Get the Marxist POTUS out ASAP!

Posted by: ZsaZsa at March 19, 2009 11:17 AM

Does this mean inflation like we have never seen before?

Posted by: ZsaZsa at March 19, 2009 04:14 PM