Another vindication of the Laffer curve. Tax RATE cuts mean increased Tax Revenue.
Another vindication of the Laffer curve. Tax RATE cuts mean increased Tax Revenue.
Large tax cuts without reduced spending also equals large increases in debt and higher interest spending, like the 37.9% annual increase seen so far this year. Note it took 4 years to get back to 2002 revenues, while spending took off to a MUCH higher level.
Maybe the fact that Bush has never had to worry about balancing a family budget leaves him to think that tax cuts without spending cuts is a good idea.