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...if we want to lower the deficit
Link
The simple facts are these: All of
the Bush tax cuts were unaffordable.
And
our Democrats just sat there while the Bush bastards ruined the economy.
They were an irresponsible act of
hubris enacted during an economic boom.
Conservatives thought they would force us to shrink the government. But
with Republicans
controlling everything, did reduced taxes cause reduced spending?
No. They led to ever-increasing
borrowing and a ballooning deficit.
We have one of the smallest governments among all the world's rich
countries. Yet we refuse
to pay for it. (Yes, health-care spending is the big exception and,
yes, we will have to get those
costs under control.) I understand the fear that this is not a good
time to raise taxes.
But the impact of marginal shifts in tax rates on growth is pretty
unclear.
Bill Clinton raised taxes in 1993
and ushered in a period of extraordinarily robust growth.
George W. Bush cut taxes massively in 2001 and got meager growth in
return. Three tax cuts
enacted since the financial crisis have done little to spur growth.
Congress could extend all the tax
cuts for a year but then let them expire. Better yet,
spend money on far more efficient ways to spur job creation, such as
tax credits for jobs,
which the CBO estimates would create four to six times as many jobs as
would tax cuts.
Fareed, have you been reading bartcop.com
again?
When the Bush tax cuts expire, we save two trillion dollars - BOOM!
If only the Democrats had a clue, or the will,
to communicate important information to the voters.
"We're
scared and helpless!"
Wait, don't forget worthless.