Justin Fox from the conservative print media known as Time Magazine notes that
Virtually every economics Ph.D. who has worked in the Bush Administration acknowledges that the tax cuts of the past six years haven't paid for themselves.
Now this is what bothers me most about these so called "journalists" who have people known as "fact checkers".
It took a little accountant blogger all of 45 seconds and a Google search to find this graph. Whereas the "Journalist" provided no detail to support his argument at all.
You tell me, does it look to you like tax cuts pay for themselves?
Second, who says tax cuts should "pay for themselves". That whole notion begins with the belief that all wealth is the government's first, yours second. It's a change in the vernacular that would have made George Orwell jealous in 1984. Let's say things like the government can't afford tax cuts.
For the record Mr. Fox, the government will afford what the public is damn well willing to give it. Now go get a fact checker.
3 comments:
It never ceases to amaze me how the "most scholarly" people in this country are so ignorant regarding income taxes. All the way up to the top professors and politicians.
Higher tax rates do not increase tax revenues. Tax increases tear at the very fabric of our economy and it ends up hurting the poor the most. Another less-cited fact is that an income increase = tax revenue increase.
Politicians should worry about how to increase tax revenues by allowing incomes to increase, not raising rates on an income they assume won't increase.
Amen brother!
Speaking of detail to support an argument... :-D where's the source for the graph that your Google search turned up?
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