When was the US Economy the best and why?

Question

I want a completley bipartisan answer. I want to know if history can provide me with the answer on who's right about the economic plan and tax cuts. The Republicans or Democrats.

Answer 1

There are two parts to the answer. right after JFK was elected, he pushed thru tax cuts and by the time he was assassinated, the economy had bounced back. the next greatest period was about 84-85 when Reaganomics kicked in. the big thing was " trickle down theory." that said that if people have more money to spend, they will buy durable goods. The companies will put people to work to replace those durable goods, which means more people working and paying their taxes. As they get tax money back, they too spend money and it puts people to work.

The Reagan years continued with a good economy until about 93, when it went soft again.

Answer 2

In the inevitable bust and boom cycle of the economy, tax cuts always give a boost. Government regulations usually backfire.

the theory is that if you artificially slow down a booming economy (like the Fed raising the interest rates) you can avoid a big bust later. Obviously, slowing down is a lot easier than speeding back up.

Personally, we're doing better now than we were in the late 90's and after 9/11. Our family income was based on the American steel industry. The recession started for us when everyone in the media was saying how great the economy was.

We retrained and are making more now and being taxed less than we were before we were laid off. To be just a little partisan, I voted for Clinton, now I'm a Republican, after the war I'll be a card carrying Libertarian. But, then, getting laid off, being attacked, having your adult kids move back home and then going off to war.... makes you pay more attention to what politicians DO rather than what they SAY.