There's no denying that the market when straight up in Novi '92.....some will argue that it was Bubba Jeff some will say that it was Newty. One fact remains.....taxes went up.
And what caused the dot com boom? It certainly wasn't the raise on the income and caps gains taxes. possibly The long terming of depreciation on expenditure's? Whaddya know.
Yes, taxes did go up, so did quality of life for the majority under Clinton. Not the same is true for Bushville... Let's see, have a job and pay taxes, or have your job sent to India and pay no taxes... What exactly has Bush done to improve the quality of life for most Americans? Bush is leaving with conditions better or worse? Clinton left with things better or worse than when he started? Isn't that the ultimate test? How things end after an 8 year tour?
ugh....I hate the fact the I may have to vote for one of two parties that I'm presented with. I've often thought of voting ...then quick chopping off my own arm. Yet..if I'm forced to judge I'd have to admit that even though I was kicked into the 10% excise tax bracket at 39.6% marginal ...my vote would have to go to Clinton. Cum Stain and all. I was a repub since '80....Mr. Bush has cured me of that....possibly to never vote right again. Sad to say.
The market basically did nothing in '93 and '94. It began a five year rally in '95 when the new republican congress took over. Newt and the Contract With America congress were the best things that ever happened to Bill Clinton. They blocked his idiotic ideas and wasteful spending and forced welfare reform on him. Too bad they didn't perform the same service for Bush. That points up the biggest threat from McCain. Republicans in congress, if any are left, will feel pressure to support his idiotic ideas. They will feel free to oppose Obama.
<img src=http://bigcharts.marketwatch.com/charts/big.chart?symb=djia&compidx=aaaaa%3A0&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&size=2&state=8&sid=1643&style=320&freq=1&startdate=1%2F4%2F93&enddate=12%2F31%2F94&comp=NO%5FSYMBOL%5FCHOSEN&nosettings=1&rand=6548&mocktick=1> From the beginning of 93 to end of 94, a gain of 20%...fact is in the first year of Clinton's presidency, the market was up close to 30%... Right now, most people would be delighted to have a market look like 93 to 94...
You obviously weren't trading back then....in November of 93 the market took off...only to be reeled in occasionally by exogenous foreign events.
As a matter of fact, if you look, the economy had a deeper, broader and more steady expansion under Bush than under Clinton, with growth rates reaching into the 7-8% for some quarters, which is unbelievable for a giant of about $14 Trillion currently. That he did despite the two major wars we had to fight and the millions of new immigrants every year. He lowered taxes and spurred investment. Of course we want to export bad jobs and keep the best ones for those of us who are willing to change with the times, learn new skills and grow along with the American economy as it evolves. That may be easier said than done for many, but what else should the Government do? Send everybody a check every month for being good? What matters, economically, is growth rate per year, and a tame inflationary climate. That's why everybody around the globe wants to come here. Try Europe with their ridiculously strong Euro: higher prices than here, IN EUROS, with higher taxes and lower per capita income on average... I wouldn't want to go live there!!