May 10, 2006
Supply-Side Economics Vindicated...AgainLiberals always whine and complain about tax cuts causing deficits. Once again, the data prove them wrong.
A flood of income tax payments pushed up government receipts to the second-highest level in history in April, giving the country a sizable surplus for the month.The tax cuts paid for themselves, and then some. It is excessive spending, not insufficient taxation, that causes deficits. And it is the spendthrift Republicans' profligacy that provides Democrats with an opening to push the issue. Also, the White House has done a typically dismal job of explaining this simple fact: the Bush tax cuts have not created a deficit.In its monthly accounting of the government's books, the Treasury Department said Wednesday that revenue for the month totaled $315.1 billion as Americans filed their tax returns by the April deadline. The gusher of tax revenue pushed total receipts up by 13.4 percent from April 2005.
Posted by Jonathan R. on May 10, 2006 05:30 PM
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Comments
That tends to happen in April.
But why don't we lower the tax rate to .0000001% ...? Surely, that will have a much larger stimulating effect on the economy the the paltry tax cuts we've seen so far.
Then, after that, we can lower the tax rate further - all the way down to .000000000001%...! Just think of the economic growth!
Posted by: winnowhead at May 12, 2006 06:18 AM
Also, the White House has done a typically dismal job of explaining this simple fact: the Bush tax cuts have not created a deficit.
What the heck are you talking about? You think we don't have a deficit because of Bush's fiscal policy? Are you f*cking insane?
We had a large surplus in 2000, and in 2001 it became a deficit. Get a frickin grip, man.
Posted by: winnowhead at May 12, 2006 06:33 AM
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