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the tax cuts resulted in record revenues collected. Same as they did under reagan.
deficits are a result of spending more than you take in. you simply can't blame them on tax cuts, when the tax cuts resulted in more taxes actually collected.
if we don't control spending it'll never get better.
Stu, both Rimmy and Tommy do not seem to understand this economic truism. They are subscribing to a flawed 'zero sum' view and this is just not how economics work.
Both complain about Bush's economic approach. Bush cut taxes (which should have been permanent) but allowed increased government spending. While revenue growth shot up as a result of his tax cuts, it did not keep pace with the government spending--NOTHING could have.
If Rimmy and Tommy's economic theory were correct--higher taxes = higher government revenues--then we'd have enjoyed MASSIVE government revenues under Jimmy Carter, when top marginal rates were in the 70% ranges.
Unfortunately for them, this was NOT the case. In fact, we suffered high inflation, stagflation, unemployment and a 'misery index.'
Reagan cut rates and government revenues skyrocketed. Unfortunately, the Democrat Congress reneged on promised spending cuts.
The '94 Republican Congress dragged Bil Clinton kicking and screaming into some reductions in spending increase amounts (NOT true cuts) and also dragged him into Welfare Reform and similar cost-cutting measures. This was done with positive effect and he was then happy to take credit for it--even though those bills were Republican in origin.
What Rimmy and Tommy do NOT acknowledge is the Democrat ticket's stated claim of their belief that the tax code exists, not JUST to pay for government services, but as a magic wand to create 'fairness' in our society and to 'punish' those dastardly people who create businesses and/or earn over 250K annually. This motive is, in my view, fundamentally anti-American and has only proven a failure when previously tried.
Raising taxes and growing government (claims that this growth is 'investment' notwithstanding, lol ) has NEVER corrected economic problems. When FDR did this it prolonged the Great Depression until WWII ended it in 1941. Yet, despite all the evidence that tax increases and increased government growth will only hurt the economy, people like this are somehow convinced that this time it will magically have a different result.
It won't. /ubbthreads/images/graemlins/crazy.gif