When looking at an accounting ledger, lower revenues look exactly the same as more spending: Both create shortfalls. It doesn't take a lot of research to show that the tax cuts from Reagan to GWB created net losses of government revenues. Sure they may have led to some increase in business, but the actual tax revenues still were a net loss. I.e., any increase was not nearly equal to the tax cut itself.
That may be fine with you, but stop denying the reality. Republicans for decades have been complaining about the deficit, but only if it is caused by spending. The deficit is fine for you folks if it's caused by tax cuts.
If you really care about the deficit you will have to acknowledge that at least in the short term we can't keep cutting taxes. The oft quoted laffer curve I'll remind you is a bell curve, and while raising taxes too high will decrease revenues, lowering them too much will have the same effect. It is clear from the evidence that we have been on the front side of that bell curve.
The deficit commission's recommendations have been panned by both sides because it provides the tough medicine of both spending cuts and tax increases.
Current Events » in reply to Re: Re: It's the spending
Last comment on this
The whole thread (39 posts)
- U.S. credit rating in danger
- Obama's view of raising the debt ceiling.
- Jesee Christee, WTF?
- Re: danger
- Re: insight
- And now for some true insight into the GOP mentality
- Re: Oh there's a good argument
- It's the spending.
- Busness as usual
- Show me the word "taxes" in my post. (n/t)
- The only rational response to anything is to cut taxes, don't you know?
- *Contented sigh*
- Oh there's a good argument
- Meanwhile, out here in my alternate reality...
- No danger