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To: Non-Sequitur

“Non-Sequitor” is claiming that tax cuts that led to increased revenues “caused” deficits? Speaking of, well, non sequiturs...


59 posted on 12/01/2010 12:12:58 PM PST by 9YearLurker
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To: 9YearLurker
“Non-Sequitor” is claiming that tax cuts that led to increased revenues “caused” deficits? Speaking of, well, non sequiturs...

No, excessive spending caused the deficits. The tax cuts led to increased revenues, and in the case of the Bush cuts I believe they led to the highest total revenue in a single year in our nation's history. Yet under Reagan and Bush both, despite the record income, we ran up huge deficits because expenses exceeded income by a considerable amount. So you can increase your income by any percentageyou care to name and credit whatever you want for it. But if your expenses increase even more then you're still in the hole.

Will extending the tax cuts increase revenue? Probably not, not in the short term. After all we're not talking about new cuts but extending existing ones and we're running a huge deficit with rates as low as they are. Extending them won't make things worse and may help long term. But they aren't a solution for our current fiscal mess.

61 posted on 12/01/2010 12:42:06 PM PST by Non-Sequitur
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