One more thing. The devaluation of the dollar and subsequent inflation was worse and more cruel than any tax increase.
When working families see an over 50% rise in consumer prices, and in some instances over 100%, while wages declined due to NAFTA and MFN for China, that my friend is worse than the muffler Bush gave working middle class families in tax cuts.
I would rather see a balanced budget and higher taxes than low taxes and high inflation.