one if congress could have passed it. he signed a tax increase in the top income tax bracket, and he signed an increase in taxation on social security benefits and a bunch of other sensible tax provisions that ended up being the biggest tax increase in history. and this time, none of the republicans who had the courage to vote for the george h.w. bush tax increases were willing to vote for the clinton tax increases. clinton tax increases were done without a single republican vote, and the partisan standoff on taxes in congress has been locked in place since then. republicans have not supported a tax increase since then and sensible fiscal policy has been impossible since then. there were some reasonable republicans in the senate in 1993 who told me privately that
and this time, none of the republicans who had the courage to vote for the george h.w. bush tax increases were willing to vote for the clinton tax increases. clinton tax increases were done without a single republican vote, and the partisan standoff on taxes in congress has been locked in place since then. republicans have not supported a tax increase since then and sensible fiscal policy has been impossible since then. there were some reasonable republicans in the senate in 1993 who told me privately that they supported many provisions of the clinton tax package, but they could not bring themselves to vote for it after bill clinton won presidency by campaigning against the reasonable tax package that president bush signed into law and that those republican senators voted for. and in the 20 years since then, republicans have never
proposed tax increase, which later that year passed the house and the senate with every republican in each body voting against the bill. every single republican in the house and the senate said the clinton tax increases, which were the biggest tax increases in history would badly hurt the economy, and most of them specifically predicted a recession. and what happened? every one of them was wrong. every single republican was wrong. about 9 clichb ton tax increases in 1993. the economy soared after those tax increases. and here s where we stood toward the end of that decade. think about it. there .probably have never been better times than these when so many people are doing so well in an economy that just gets stronger and stronger. the latest measure are the
could not be clearer. no punches pulled there. tax increases will put us back in a recession. that was newt gingrich in 1993 fighting against bill clinton s proposed tax increase, which later that year passed the house and the senate with every republican in each body voting against the bill. every single republican in the house and the clinton tax increases, which were the biggest tax increases in history would badly hurt the economy, and most of them specifically predicted a recession. and what happened? every one of them was wrong. every single republican was wrong. about 9 clichb ton tax increases in 1993. the economy soared after those tax increases. and here s where we stood toward the of that decade.
world economy? guest: absolutely. it is tooism to pull in the worst volatile speculation trading which this is. they proposal ten bases points for europe, plans and germany. neil: but who brings in congress volatility? you gives are so interested in affecting how wall street conducts its business that you don t look and see how you conduct yours. that is the far greater worry not if wall street is trading on a rush but whether you are in a rush to spend. guest: i came from the floor with mostly republicans, speaking in favor of a balanced budget amendment to the constitution which i voted for in 1995 and we balanced the budget in the 1990 s with the clinton tax increases which the republicans did not repeal, and, then, the republican reforms and cuts in the late 90 s. neil: why does the greek