Democrats haven't done much to be worthy about in my opinion. The Great society was a failure. Spending future generations money is a policy of failure. Balancing the budget by gutting the military is a recipe for failure. Thinking appeasement is a deterrent to dictators is a policy of failure...... what else?
I can name Republican failures too, but at least they come to their senses now and again. The Dem's have been off the rail for 40 years. The modern day democrat Party has nothing in common with it's past. Kennedy, Truman, ...all would be Republicans today. As Reagan famously and accurately said once.... "I didn't leave the democratic party, it left me". So true....so true. It's even worse today, and that's saying something.
The reason that I have to consider myself a Dem is more with regards to human rights. The fiscal differences between republican and dems are a joke, because there is almost no difference.
Historically the Dems have been the ones calling for reduction in military spending. And everytime they get shot down for 'not protecting the nation'.
Meanwhile Regan spent trillions on the cold war, but the republicans like to say that was what won the cold war. While other times they want to say that socialism failed and was why the Soviet Union failed. They both can be reasons, but really if they wouldn't have spent the same trillions on nukes they would have failed anyway. And we would not be stuck with over 3000 nukes that are 90% worthless (other 10% is a scare tactic).
Yes, Han, of course I know what a balanced budget is...
What is MORE important is the GDP in relation to the budget, regardless of spending. Kapish?????
You said:
We're talking TAX REVENUES and you equate that with balanced budgets...... Like I said, take an Economics course.... and that's no joke.
Taxes are what the government brings in. If the budget is balanced then the taxes will equal the spending. Unfortunantly that has not been the case except for Clinton.
So it is only under Clinton that a president has put out a budget that did not spend more than it brought in and was fiscally responsible. Regan, Bush 1, Bush 2 all spent spent spent, while cutting taxes (only to have to raise taxes later to make up for outspending what they were bringing in).
In GDP Government spending is the only thing that affects the number, not taxes GDP = C+I+G+(X-IM). C= consumption, I, actual capital investment (nothing to do with money), G= Government spending (not transfer of payments (SS)), X= Exports, IM is imports. It is counting (only once since it is only finished goods to not get inflated) the income of the nation. That is why we make $14.4 trillion a year as a country. Taxes are not in consumed (since you cannot spend them as they are gone) but what the government spends is based off of those taxes.
If taxes are lowered consumption goes up (more money), if taxes are increased it goes into government spending, so it doesn't changed GDP.
Taxes affect the money multiplier model.
Yeq= (1.0/(1.0-mpc(1.0-t)+im)) * [Co-mpc(To)+I+G+X-IMO]
C= Total income + .9 (GDP-T {taxes} on and on.