Rush had a cow about Romney’s statement yesterday.
On his radio show Thursday, Rush pointed out that tax cuts do NOT increase the deficit.....they increase economic activity, and therefore bring in more money to the government.
When Reagan took office in January 1981, the IRS was raking in $500 billion per year. Eight years later, when Reagan left office, the IRS was taking in $950 billion per year.
Here’s hoping that Romney is NOT the nominee.
You don't have to limit the historical evidence to the Reagan tax cuts, either. Look at the Kennedy and Bush cuts. Also, look what's happened to Chile since they cut their income and corporate tax rates (15% max--who does the gov't think pays corporate rates...it ain't the corporation, stupid). Chile is the fastest growing economy in the world right now with a gov’t that's only sopping up 5% of GDP. And that's a country that was damn near communistic under Allende in the 70’s.