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Why does Summertime not know that her taxes were higher under Clinton?
Darren: 2007 was a record year for tax revenues. Look it up. How would higher revenues cause the crash? It was much more than that. Housing crashed the economy. Banks were trading securities which were bundled mortgages.
That economic boom was mostly the Tech bubble. Not more government.
3 Answers
- regeruggedLv 78 years agoFavorite Answer
If I posted what I think of "Summertime" I would get banned from this site.
- DarrenLv 68 years ago
Our federal taxes were higher. Then Bush enacted tax cuts that had a strong domino effect. States were now faced with less funding and had to make cuts or raise local or taxes, or in most cases both. It resulted in many governers being voted out of office by upset citizens.
It was one (but certainly not the only factor) that led to the 2007-2008 financial crisis. The Clinton presidency was marked by 8 years of peace and prosperity that most of us would be happy to experience again.
