The beauty is that if we only reduced spending growth rates below GDP growth rates - surpluses will again be possible and sustainable long into the future - of course barring unforeseen catastrophies.
When will Americans hold the left responsible for their continued lies on the matter?????
Nope. This article won't get any airplay. It won't be seen anywhere outside of FR and NRO.
There goes another argument by the leftists.
Unfortunately the government went on a spending spree after these tax cuts just like they did after Reagan and have again masked the true effect the tax cuts had.
Does W and company know this?
What great data to report during State of the Union!
FR activits use your email power to bring this to the attention of "The Architect"!
Of course it did. And the dividend cut. Tax cuts always pay for themselves.
But they didn't pay for the socialism the phony "conservatives" rammed down our gullible throats!
Even Clinton reluctantly signed a cap gains cut. And he had a GOP congress to actually try to reign him in.
ping
I'm going to help circulate this one. I've got a few non-Freepers that would be interested. Thanks for the post because I know mainstream media won't call attention to it.
Why am I not surprised that:
1. this little item is buried in the report.
2. the media is ignoring it.
3. tax cuts work particularly tax cuts which increase the spending power of consumers.
This leads me directly to the question:
What would happen if we entirely did away with this bit of subtrafuge called the corporate income tax?
EXCELLENT POST! Thanks!
The left will never acknowledge their collective folly. Taxing the "evil" "rich" just "feels" so good....they can't give it up.
If anyone would like to be added to this ping list let me know.
John Linder in the House(HR25) & Saxby Chambliss Senate(S25) offer a comprehensive bill to kill all income and SS/Medicare payroll taxes outright and replace them with with a national retail sales tax administered by the states.
H.R.25,S.25
A bill to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national retail sales tax to be administered primarily by the States.Refer for additional information:
Generating more cash for Congress to steal and squander is just wrong. We need to strangle the cashflow, because these parasites just will never get it. It's not their money, and they can buy votes, so why would they stop as long as we find ways for them to steal more of it?
FWIIW, the CBO has been dead wrong with virtually every estimate they have ever made about the economy!
The reason is they use "static" scoring for proposed changes in the tax code vice "dynamic" scoring. IOW, they refuse, even after decades of contrary evidence, to take into account personal and corporate taxpayer behavior in the face of tax code changes.
The "conventional wisdom" under the static scoring model is that when the government raises tax rates, revenues increase and when tax rates are lowered, revenue decreases.
They are wrong, of course, and Dr. Laffer is absolutely correct, as has been proven time after time after time.
The sad truth is that the CBO poobahs are tax and spend lieberals, and the Republicans, when afforded an opportunity to replace the CBO old guard in 1994 with FResh intellects schooled in dynamic scoring, blew it, and left the old guard in place.
Which gives you some idea of the magnitude of the problem we are faced with -- not only with the CBO, but also with the Congress!
For example, the static scoring model the CBO uses has resulted in some incredibly wrong-headed conclusions which the LIEberal/Socialist/Marxist Bastards in Congress, on K Street and at the Brookings Institute have used with manifest glee to trash the FairTax.
When you understand that the CBO wields incredible power in the House and Senate re: changes to the tax code, you will begin to appreciate the nature of the beast we are warring against.
Simply put, the CBO can make or break a tax code change, and for that reason, reform minded Congressmen and Senators have been trying to re-staff the CBO since 1994. Without success, I must regretfully add. The lieberal tax and spenders are still in there doing their bit to keep the income tax and the IRS alive.
To this point, they are succeeding.
We have all suffered mightily FRom their "handiwork."
Thank you congressman Bill Thomas. W was adamantly against a capital gains tax cut.
Somehow I don't think the NYT or NPR are gonna report this...