Top Pro & Con Arguments



The $290 billion national deficit of 1992 became a $124 billion surplus by 1999 because Clinton’s Omnibus Budget Reconciliation Act of 1993 raised taxes on the top income rate from 28 percent to 39.6 percent, thus increasing tax revenues. [23] [24] Just as the 1980s economic boom followed a tax increase by Reagan, the economy likewise improved after Clinton raised taxes in 1993. [25] He also limited the ability of corporations to claim deductions for entertainment expenses. [26]

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