By Peter Beinart
The Daily Beast -- July26, 2010:
During the Bush years, Republicans mostly insisted, in Dick Cheney’s famous words, that “deficits don’t matter.” Now they say deficits are virtually all that matters. Their rhetoric has shifted radically, but their policy prescriptions haven’t changed one bit. You might think that people terrified of deficits would be concerned about permanently extending tax cuts that will add at least $2 trillion to the national debt over the next decade. Nope. The Republicans were for cutting taxes when they didn’t care about deficits and they are for cutting taxes when they do care about deficits, which is another way of saying that they don’t really care about deficits. They simply care about maintaining the tax cuts for America's wealthiest families.
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2 comments:
That's funny. Most of us cared a great deal about the deficit under Bush. That was our greatest complaint.
You dont raise taxes during a recession. You cut taxes and cut spending, this has been shown to work throughout history.
I know that you guys all hate the wealthy, and look to them to be the nations piggybank, but the wealthy are the private sector job creators. Poor people don't create jobs. Not to mention it means another one of the many promises that Obama made on the campaign trail that he will be breaking. You know, the one about not raising taxes if you make under $250,000/yr. Oh well, he has broken so many so far---what's another one?
Personally, I am tired of the country being run by people that don't know what to do, or how to do it.
"The economy boomed during the 1920s and increasing revenues from the income tax followed. This allowed Congress to cut taxes five times, ultimately returning the bottom tax rate to 1 percent and the top rate down to 25 percent and reducing the Federal tax burden as a share of GDP to 13 percent. As tax rates and tax collections declined, the economy was strengthened further."
Oh but there's so much more on this. Check out: http://www.ustreas.gov/education/fact-sheets/taxes/ustax.shtml
That's from the US Treasury website and clearly goes over tax rates and the economic ramifications of raising taxes to "help" the deficit.
Truth is, lowering taxes raises the "take" for the government.
Kennedy lowed taxes as well and the result was more revenue to the government. Google it
I wonder whether Mr. Cheney’s “ Deficits don’t matter” statement was subtly implying that military power is sufficient to sustain a global empire. I’m more inclined to believe in Santa Claus than to believe there are many more election cycles before reality crushes the fantasy world of the Washington beltway.
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