Msg. 61057 of 65535 (This msg. is a reply to
61033 by
joe-taylor)
Jump:
Joe> I really do believe that you think that we are really stupid and naive here!
No doubts here.
First, deficits are caused by spending more money
than one has to spend. Even if you were right,
which, you are not, tax cuts do not cause deficits.
Politicians spending money are the cause.
Second, tax cuts - when properly applied - leave
more money in the hands of the economy where they
can go round again, spinning off more tax revenues.
The following graph clearly reveals the answer. The red line represents the top marginal tax bracket while the blue line shows the total amount of Federal government revenue each year. There are two salient points here. First, as the graph illustrates, as tax rates declined, government revenue increased.
. . .
In conclusion, as JFK, Reagan, and George W. Bush understood, reducing taxes has a stimulative effect on economic activity which leads to an increase in government reciepts. You can’t argue with history!
>>>
I really do believe that you think that we are really stupid and naive here!
Just to point out: When Ronald Reagan was president his tax cuts rang up between three and four trillion dollars of deficit. When George W. Bush was president, his tax cuts rang up over six trillion dollars more of additional deficits.
These things occurred because less tax revenue was coming in, thus negating your rather stupid thesis that we were paying the same effective tax rate in the fifties as we are paying now! In the fifties we were balancing the budget!
And, by the way, it is also interesting to note that you are pushing this lie about similar tax rates in the fifties and now because it fits into your ideas about starving the government by running deficits thus giving you the ammunition to destroy the social safety nets that have been in place since the 1930's and the 1960's. And, by the way, we all happen to know who the WSJ is owned by and the agenda that they promote.
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