By the way, I love this discussion almost as much as the Sarah Palin thread that somebody thought was driving a wedge between us Mopar people. So we better be careful and make sure we don't talk about politics here, don't want to get banned for speaking my mind.
I am not sure if there was really a surplus when Clinton left office, but he was President during one of the most crazy business expansions ever, the internet age and the dot.com boom. Was it his policies? I don't think so because taxes were pretty high at the time. I just happened on his watch.
When Bush took over, the dot.com bubble busted, we had the worst terrorist attack on American soil ever, we are at war, the housing bubble burst, now banks that had a hand in it are going boobs up. Was this because of Bush policies? I don't think so.
History has shown that tax cuts increase taxable income, that is a fact. Tax increase's slow growth and penalize making money. I am not rich, I am for sure middle class. But why should someone making 80,000/ year pay a higher percentage of taxes than someone making 40,000/year? I have worked hard to get 3 college degrees on the wall, still paying off student loans, I want as much of my hard earned money to stay with my family who supports me and my hard work.
As far as oil, the big oil companies spend billions searching for oil and sometimes do not find it. Who pays for that? The shareholders of that company. And it is also a fact that as a percentage of market cap, oil companies make less than other industries. Walmart, GE and other companies make a higher return than oil companies. Yes it is Billions, but they are spending a heck of a lot more money to find and refine oil than your hometown Walmart is in finding the cheapest products in the cheapest countries and bring them to you so they can make money.
Yes I am Republican, the main reason is because Republicans are supposed to be the ones that cut spending in Govt and cut taxes so we are rewarded for hard work. The last 8 years, Bush should have gotten the veto pen out way more to stop the crazy govt waste and spending. I believe that McCain and Palin are the ones for this job.