One Year Later: How the Clinton Tax Hike Is Harming America

Publication Date: August 1994

Publisher: Heritage Foundation (Washington, D.C.)

Author(s): Daniel J. Mitchell

Research Area: Banking and finance; Economics

Keywords: Taxes

Type: Report

Abstract:

Policies that did not work for Herbert Hoover, Jimmy Carter, and George Bush are not working any better for Bill Clinton. The economy's weak performance, the dismal job creation numbers, and projections of higher spending and deficits are the inevitable results of a fiscal policy based on this flawed model. Critics maintained that the 1993 tax hike would harm the prospects for a solid recovery, not enhance them. They are already being proved correct.