Urbin Report

Friday, July 30, 2004

The real story

The the Washington Times:

In Boston, Mr. Clinton argued against so-called tax cuts for the rich that leave "ordinary citizens to fend for themselves." He added "the only test that matters is whether people were better off when we finished than when we started."
But when Mr. Clinton first sat in the Oval Office in 1993, he inherited a strong economic recovery from Papa Bush, with real economic growth registering a 4.1 percent gain. When George W. Bush inherited the economy from Mr. Clinton, the U.S. was dropping into recession.

For Mr. Clinton to blame Mr. Bush for cutting taxes on rich people is just plain silly. It was Mr. Clinton who signed a huge capital-gains tax cut for stocks and residential real estate in 1997.