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To: MontaniSemperLiberi
I agree - but my point was that the debt crisis is not a revenue crisis created by the Bush tax cuts, but a spending crisis caused by elected officials buying votes with our tax dollars. But whenever the debt is discussed the libs want to blame the Bush "tax cuts for the wealthy". But those tax cuts created more revenue, not less.

Libs can't seem to understand that when "the rich" are allowed to keep more of their money, they are less likely to use tax dodges and more likely to create and expand businesses - which creates jobs and increases tax revenues. But if the Congress and President spend money like - well, I'd say drunken sailors, but drunken sailors are honest and only spend their OWN money - no amount of revenue enhancement can hope to keep up.

23 posted on 05/06/2011 11:45:50 AM PDT by In Maryland ("Impromptu Obamanomics is getting scarier by the day ..." - Caroline Baum)
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To: In Maryland

It was both a revenue and a spending crisis. I agree that tax revenues recovered by 2006 but they did not cut spending when they passed the tax cuts. That meant a deficit. Moreover, they kept spending even more after the revenues came in.

I’m all for tax cuts but when we cut taxes, I think we need to cut spending while we wait for the economy to expand. Not before that.

Our Republicans decided to run (what we thought then) was a massive deficit. I think they made a mistake.


25 posted on 05/06/2011 3:28:04 PM PDT by MontaniSemperLiberi (Moutaineers are Always Free)
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