I keep on hearing that the present administration wants to increase taxes that were in effect during the Clinton administration. According to my recollection the tax break given to the wealthy during President George W. Bush's administration was to help stimulate the economy and would be used to expand and create more businesses, therefore creating more jobs that were direly needed.
As evident, it did not stimulate the economy or create more jobs. It only increased the wealth of people whom this tax break benefited. It is only common sense that when you enact a plan to do good for the country and this plan does not work you simply stop using it. It is not a tax increase. The tax break did not work, period.
The tax rates during the Clinton years were working. All they want to do is revert back to these rates.