The original Bush Tax Rate Cuts increased Tax Revenue 35% in four years time from $1.75 Trillion in 2003 to $2.5 Trillion in 2007.
Of course, a majority of the American Public are ignorant of this fact since the Bush Tax Cuts were only for the “rich”, which must have meant that those rich people paid less of the total Taxes collected. The opposite was true, but you wouldn’t know it unless you looked beyond the usual sources.
The concept of a growing economy producing increased Tax Revenue seems to be outside the realm of understanding for the average American.
Will this “AGREEMENT” do the same? Will the current level of Taxation, $2.2 Trillion Dollars, magically grow to $3 Trillion Dollars in four years?
Even if it did, will the Federal Budget (well there is no real Budget) shrink to $3 Trillion Dollars from its current $4 Trillion Dollars so we will have a balanced Budget?
Everyone here knows the answers, but we are now the enemy according to the Democrats and their Media sycophants. The light of truth has been extinguished.
Projected federal spending for 2013 is 3.8 trillion dollars.
http://www.usfederalbudget.us/
That equals 10.41 billion dollars per day.
The "revenue" (read: taxes) that we are expecting to confiscate from the "rich" is 620 billion dollars OVER THE NEXT 10 YEARS.
That's only enough to cover federal spending for less than 2 months.
Even more sad is that the spending cuts proposed (15 billion dollars) wouldn't even fund the federal government for a day and a half.
And Obama is calling this a victory?