LAMBRO: Over the cliff with Obama

Democrats don’t get that rising taxes sink all boats

Question of the Day

Should Congress make English the official language of the U.S.?

View results

This is a clear signal that Mr. Obama, whose campaign has been all about class warfare instead of growth economics, persists in his opposition to broadening the tax base and reducing the tax burden on a bedridden economy.

Mr. Obama, Mr. Schumer and their Democratic allies continue to argue that tax-reduction incentives will not improve the economy, that “the numbers don’t add up.” However, they worked under Reagan, who cut taxes across the board during his first term and reduced them further in his second term. He did it with Democratic support in Congress.

You want evidence? Well, I’ll give it to you.

In 1983, after a severe recession sent unemployment up to 10.8 percent, Reagan’s quarterly economic growth rates were 1.5 percent, 3.2 percent, 5.6 percent and 7.7 percent.

By comparison, in the third year of Mr. Obama’s presidency, his quarterly economic growth rates were 0.4 percent, 1.3 percent, 1.8 percent and 3 percent.

In 1984, the year Reagan sought re-election, quarterly economic growth rates were 8.5 percent, 7.9 percent, 6.9 percent and 5.8 percent.

By 2012, Mr. Obama’s first two quarterly growth rates were 2 percent and a barely breathing 1.3 percent. Third-quarter estimates are about 1.5 percent.

When he was running for president on a platform for across-the-board tax cuts to “get the economy moving again,” John F. Kennedy dealt with the tax fairness issue by saying, “A rising tide lifts all boats.” Despite all of the naysayers, the economy strengthened, and by the end of the 1960s, we had a balanced budget.

Donald Lambro is a syndicated columnist and former chief political correspondent for The Washington Times.

© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.

blog comments powered by Disqus
TWT Video Picks
You Might Also Like
  • Maureen McDonnell looks on as her husband, former Virginia Gov. Bob McDonnell, made a statement on Tuesday after the couple was indicted on corruption charges. (associated press)

    PRUDEN: Where have the big-time grifters gone?

  • This photo taken Jan. 9, 2014,  shows New Jersey Gov. Chris Christie gesturing as he answers a question during a news conference  at the Statehouse in Trenton.  Christie will propose extending the public school calendar and lengthening the school day in a speech he hopes will help him rebound from an apparent political payback scheme orchestrated by key aides. The early front-runner for the 2016 Republican presidential nomination will make a case Tuesday Jan. 14, 2014, that children who spend more time in school graduate better prepared academically, according to excerpts of his State of the State address obtained by The Associated Press. (AP Photo/Mel Evans)

    BRUCE: Bombastic arrogance or humble determination? Chris Christie’s choice

  • ** FILE ** Secretary of State Hillary Rodham testifies on Capitol Hill in Washington, Wednesday, Jan. 23, 2013, before the Senate Foreign Relations Committee hearing on the deadly September attack on the U.S. diplomatic mission in Benghazi, Libya, that killed Ambassador J. Chris Stevens and three other Americans. (AP Photo/Pablo Martinez Monsivais, File)

    PRUDEN: The question to haunt the West

  • Get Breaking Alerts