Every analysis of the deficit from government and other organizations shows a structural deficit continuing for many years even assuming a recovery. This is the nonsense you have to cling to, that the tax cut will somehow pay for itself in increased government receipts.
It wasn't true under Reagan and it isn't true now. That structural deficit is in large measure from the tax cut. The tax cut would have had some tiny stimulus so government receipts would rise slightly because of it and would fall slightly if the tax cut was repealed. This is the reality you must hide from, even though it's a simple as balancing your chequebook.
The simple fact is there was no tax cut. All Bush did was give you a loan you or your descendants will have to pay off. Pretty good strategery on his part people went backwards overall as they have to pay the interest and principal one day.
Current Events » in reply to "If the tax cut was repealed most of the structural deficit would be gone."
nonsense
The whole thread (23 posts)
- Tax cuts...the second wave
- so some wealthy people got large tax cuts and like them. This is news? Where are the screams of pleasure from the Joe Sixpack level? (n/t)