Changes

Jump to navigation Jump to search
4 bytes added ,  11:28, March 16, 2009
must distinguish between tax revenue and tax rate
Line 16: Line 16:  
*A big six accounting firm audited the U.S. House's finances for the first time in history.
 
*A big six accounting firm audited the U.S. House's finances for the first time in history.
 
*The Budget was balanced for the first time in a generation.  When Time Magazine named Gingrich their Man of the Year in 1995, they said that because of Newt a balanced budget was no longer a question of if, but when.
 
*The Budget was balanced for the first time in a generation.  When Time Magazine named Gingrich their Man of the Year in 1995, they said that because of Newt a balanced budget was no longer a question of if, but when.
−
*Taxes were cut for the first time in 17 years.  Included were a cut in the capital gains tax, a $500 per child tax credit and new tax credits for tuition to college and voc-tech schools. The cap gains tax actually ended being scored as a revenue increase, a shift in tax policy debate due to Gingrich's success.
+
*Tax rates were cut for the first time in 17 years.  Included were a cut in the capital gains tax, a $500 per child tax credit and new tax credits for tuition to college and voc-tech schools. The cap gains tax actually ended being scored as a revenue increase, a shift in tax policy debate due to Gingrich's success.
 
*Military spending increased  for the first time in over 10 years including funding for a national missile defense.  
 
*Military spending increased  for the first time in over 10 years including funding for a national missile defense.  
 
*The line-item veto passed and was signed into law.  
 
*The line-item veto passed and was signed into law.  
Siteadmin, Check users, nsTeam1RO, nsTeam1RW, nsTeam1_talkRO, nsTeam1_talkRW, oversight, Administrators
30,650

edits

Navigation menu