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3 years ago

President Clinton attempted to improve the economy by _______?

History

3 answers:

polet [3.4K]3 years ago

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C. sharing the responsibility for government debt reduction.

When Clinton took office as president in 1993, the government needed to balance its budget, just as a business would do. Under the Clinton administration, tax rates were raised to increase revenue. The Omnibus Budget Reconciliation Act of 1993 (also known as the Deficit Reduction Act) raised the top income tax rate from 28 percent to 36 percent persons with income above $115,000, and to 39.6 percent for persons with income above $250,000. It increased the corporate income tax rates and ended some corporate subsidies.

Government spending was cut also by reforming welfare. The Personal Responsibility and Work Opportunity Reconciliation Act of 1996 pushed for welfare recipients to seek employment, and limited the total time they could receive benefits to five years.

Ultimately, Clinton's economic policies paid off. The government's budget deficit dropped from $290 billion to a budget surplus of $128 billion.

Alexus [3.1K]3 years ago

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sharing the responsibility for government debt reduction.

mircat2 years ago

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President Clinton attempted to improve the economy by

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The following four resolves were adopted by the House of Burgesses on May 30, 1765:

Resolved, that the first adventurers and settlers of His Majesty's colony and dominion of Virginia brought with them and transmitted to their posterity, and all other His Majesty's subjects since inhabiting in this His Majesty's said colony, all the liberties, privileges, franchises, and immunities that have at any time been held, enjoyed, and possessed by the people of Great Britain.

Resolved, that by two royal charters, granted by King James I, the colonists aforesaid are declared entitled to all liberties, privileges, and immunities of denizens and natural subjects to all intents and purposes as if they had been abiding and born within the Realm of England.

Resolved, that the taxation of the people by themselves, or by persons chosen by themselves to represent them, who can only know what taxes the people are able to bear, or the easiest method of raising them, and must themselves be affected by every tax laid on the people, is the only security against a burdensome taxation, and the distinguishing characteristic of British freedom, without which the ancient constitution cannot exist.

Resolved, that His Majesty's liege people of this his most ancient and loyal colony have without interruption enjoyed the inestimable right of being governed by such laws, respecting their internal policy and taxation, as are derived from their own consent, with the approbation of their sovereign, or his substitute; and that the same has never been forfeited or yielded up, but has been constantly recognized by the kings and people of Great Britain.

The following version of the much-debated fifth resolution (which was not adopted) was found with Patrick Henry's will:

Resolved, therefor that the General Assembly of this Colony have the only and exclusive Right and Power to lay Taxes and Impositions upon the inhabitants of this Colony and that every Attempt to vest such Power in any person or persons whatsoever other than the General Assembly aforesaid has a manifest Tendency to destroy British as well as American Freedom.

The following two resolutions were not passed by the Virginia Assembly, but were reported in several newspapers:

Resolved, That His Majesty's liege people, the inhabitants of this Colony, are not bound to yield obedience to any law or ordinance whatever, designed to impose any taxation whatsoever upon them, other than the laws or ordinances of the General Assembly aforesaid.

Resolved, That any person who shall, by speaking or writing, assert or maintain that any person or persons other than the General Assembly of this Colony, have any right or power to impose or lay any taxation on the people here, shall be deemed an enemy to His Majesty's Colony.

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