Posted on 02/08/2006 7:49:15 PM PST by John Semmens
According to the Congressional Budget Office, instead of costing the government $27 billion in revenues, the 2003 capital gains tax cuts actually earned the government $26 billion extra. That is, by cutting the taxes on investment gains, the government actually took in more money—kind of like a business that increases its profits by cutting its prices.
The boost in government revenues from tax cuts was not good news to everyone. Representative John Spratt (D-SC), ranking Democrat on the House Budget Committee expressed disappointment with the news. “It’s not just the quantity of revenue that is important,” said Spratt. “Equalizing the pain of taxation is also important. The fact that rich investors also gain diminishes our satisfaction with the boost in government revenues.”
House Minority Leader Nancy Pelosi (D., Calif.) endorsed Spratt’s remarks. “Tax cuts are a cynical ploy to increase Republican power,” Pelosi complained. “Tax cuts that spur investment push more people into higher income brackets and make them more likely to vote Republican. The end result could well be the extinction of the Democratic Party.”
A Gallup snap poll indicated that 72 percent of respondents would accept the extinction of the Democratic Party as a trade-off for higher personal income.
(Excerpt) Read more at azconservative.org ...
Tax Cuts WORK ping!!!!!
ROFL
Well, if that's how it has to be....
While you did list "satire" in the key words I think responsible posting requires that you put a word like (Parody) in the title, or in the posting comments. It is easy to think this is real as you've posted it.
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