Домой United States USA — mix Here’s How George HW Bush’s ‘No New Taxes’ Pledge Changed American Economic...

Here’s How George HW Bush’s ‘No New Taxes’ Pledge Changed American Economic Policy & Cross-Party Politics

279
0
ПОДЕЛИТЬСЯ

Bush was struggling to defeat opponent Michael Dukakis in the election, so he worked to convince voters that the Massachusettes politician was a tax-and…
Bush was struggling to defeat opponent Michael Dukakis in the election, so he worked to convince voters that the Massachusettes politician was a tax-and-spend liberal and to appeal to anti-government conservatives by denouncing big government. His tactic worked and he won the election. At the time, Congress was controlled by Democrats, who wanted to protect earned benefits and services. After two years, Bush came to a compromise with progressives and accepted a tax increase that raised taxes while cutting spending.
Bush was punished for what people saw as a flip-flop, but economists argue that the compromise, along with another deal under President Bill Clinton in the 90s, produced an economic boom and a budget surplus by the end of the decade.
Still, Bush suffered for his decision when it came time for re-election, both in the party’s primary and in his run against Clinton.

Continue reading...