Think about it!
During President Reagan’s eight years in office, the top marginal income tax rate for the wealthiest Americans fell from 70 percent to 28 percent and government spending for national defense was increased. So what happened? The national debt tripled to more than $3 trillion, unemployment exceeded 10 percent in his first term in office and the stock market crashed, along with a recession, during his second term in office. During President Clinton’s first year in office, the top marginal income tax rate was raised to 40 percent and government spending for national defense was lowered. So what happened? There were four consecutive years with balanced budgets that lowered the national debt, and the nation enjoyed the best economic times ever in American history. During George W. Bush’s eight years in office, the top marginal income tax rate was lowered to 35 percent and the capital gains tax rate was decreased to 15 percent for the wealthiest Americans, two unpaid wars were started in Afghanistan and Iraq and an unpaid Medicare prescription drug program was started. So what happened? The national debt doubled to almost $11 trillion, the stock market crashed and the unemployment rate reached 10 percent at the start of The Great Recession when he left office in 2009. If Donald Trump gets elected, he promises to lower the corporate income tax rate from the present 35 percent to 15 percent and increase spending for national defense. Are these good ideas? Before you vote, think about it! David L. Faust Selinsgrove