Home Budget, Economy Mark Warner: “My businesses prospered greatly during the ’90s”

Mark Warner: “My businesses prospered greatly during the ’90s”

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On Squawk Box, Mark Warner talks small business and extending tax cuts to the richest Americans. According to Warner, we should extend the Bush tax cuts to those making less than $250,000 per year, but if we extend the cuts to the richest of the rich, then “we’re gonna lose all credibility that we’re gonna be willing to take on the deficit.” I couldn’t agree more.  Also, Warner makes an excellent point about the tax rates that existed during the 1990s, when the U.S. economy boomed:

I don’t mind going back to the rates that I paid under Clinton and Bush 1, when I was in business, because frankly, my businesses prospered greatly during the ’90s.

Yes, they most certainly did, along with the rest of our economy. Why wouldn’t we want to go back to that, especially when we’ve seen what the Bush/Cheney/Republican Congress policies did to us in the 2000s?

  • Tom

    I’m still reeling from the revelation that Gerry has decided to go against his own party and his own claims of deficit reduction beliefs by saying he is against letting the Bush tax cuts for those whose taxable income (after exmeptions and deductions) exceeds $250K per year. If there is anyone in Congress who might be able to convince Gerry that his wrong-headed position fails the logic and business acumen test, it has to be Sen. Warner. But when I expressed my dismay about Gerry’s position to one of his staffers when she called me to ask if I could volunteer some time for canvassing and/or phone bank work she tried her best to convince me that Gerry’s “reasoning” made some sense. She is a really nice young lady, and I felt sorry for her that i had to tell her I can no longer continue as one of his loyal and dedicated volunteers unless and until he reverses his position, but she is now left with no good rebuttal to the facts of where Gerry is now heading with his campaign. Another “Republican Lite” candidate we do not need, and especially in the 11th CD where the demographics should favor a moderate, but certainly not conservative, Democrat.

    Please, please, someone tell me I am wrong about my reading of Gerry’s position and its importance to the the effect on his supporters’ enthusiasm for his campaign. What do we tell prospective volunteer recruits and voters when they ask why he wants to delay the expiration of the Bush tax cuts for the wealthiest 2-3% and thereby increase the deficit he said he wants to reduce ?

                        T.C.

  • libra

    (“My businesses prospered greatly during the ’90ties”) is something that Warner ought to pound on the Senate floor, too. Having started/built up several successful businesses, he actually knows what he’s talking about on the subject of the relationship between taxation and small business prosperity, unlike some of those “deficit peacocks” (including some on the Dem side) who’re just parading around and spouting nonsense shrieks of “cut spending! no taxes!”