Monopolist
New member
After both the Reagan and Bush tax cuts, there were SHORT-LIVED booms in the economy. If tax cuts are so great, why are we where we are today with huge deficits having been left by both Reagan and Bush? Wasn't there supposed to be a resulting increase in tax revenue as a result of the tax cuts?
Obama has allowed the Bush tax cuts to remain in place until they expire later this year. In the mean time, Obama was forced to spend, spend, spend to stimulate the economy that wasn't supposed to fail with low taxes. For that reason, he's been forced to add to the debt created by tax revenue "no-show"! What's REALLY going on here??
Based on historical evidence (see links), it seems to be the case that the obvious is true: revenues are directly proportional to tax rates; and that the counter-intuitive is FALSE: that tax cuts mean higher revenues.
http://www.cbpp.org/cms/?fa=view&id=165
Economists:
http://www.time.com/time/magazine/article/0,9171,1692027,00.html
Unless you believe these numbers that were crunched by Heritage Foundation's own Brian Riedl:
http://www.heritage.org/Research/Reports/2002/12/Tax-Cuts-Increase-Federal-Revenues
I have to believe somebody's numbers are wrong!
@consrgreat: this (and similar graphs) disputes your oft-repeated premise that Democratic Congresses squander supposed low-tax revenue windfalls. (Please not the years of red and the amount of red per year.)
http://images.huffingtonpost.com/2008-10-06-Whosedeficitsarethey.jpg
Obama has allowed the Bush tax cuts to remain in place until they expire later this year. In the mean time, Obama was forced to spend, spend, spend to stimulate the economy that wasn't supposed to fail with low taxes. For that reason, he's been forced to add to the debt created by tax revenue "no-show"! What's REALLY going on here??
Based on historical evidence (see links), it seems to be the case that the obvious is true: revenues are directly proportional to tax rates; and that the counter-intuitive is FALSE: that tax cuts mean higher revenues.
http://www.cbpp.org/cms/?fa=view&id=165
Economists:
http://www.time.com/time/magazine/article/0,9171,1692027,00.html
Unless you believe these numbers that were crunched by Heritage Foundation's own Brian Riedl:
http://www.heritage.org/Research/Reports/2002/12/Tax-Cuts-Increase-Federal-Revenues
I have to believe somebody's numbers are wrong!
@consrgreat: this (and similar graphs) disputes your oft-repeated premise that Democratic Congresses squander supposed low-tax revenue windfalls. (Please not the years of red and the amount of red per year.)
http://images.huffingtonpost.com/2008-10-06-Whosedeficitsarethey.jpg