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Politics : John McCain for President
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To: RetiredNow who wrote (5470)10/30/2008 8:24:05 PM
From: Dan B.  Read Replies (1) of 6579
 
Your notion that the rich have gotten some significant tax break on the backs of the rest of us is not supported in your post.

That projected tax cuts amount to 4 trillion in tax savings through 2014 has nothing to do with whether the rich have suddenly been given a break relative to the rest of us during Bush's time. Did the rich ever in the recent past start suddenly paying a significantly lower portion of all taxes collected than they had before? THAT is what I said you won't likely find any support for.

Responsible fiscal governance is cutting spending, not rolling back cuts so that folks down into the $40,000 range experience an increase. Even if rolling back solves the deficit, the high percentage of GNP spent by government rather than the people will be the major drag on our economy.

There is no question but that Bush and Congress ran a deficit, but in this regard, I think the Laffer Curve still holds true, and so tax revenues increased when taxes were cut. The Laffer Curve always has had the element in it where-in tax revenues go down if taxes get TOO low, following the simple math we know so well. Even if the above is wrong, and in fact without the cuts there would be no deficit, the rich, again, simply have at no point under Bush begun paying any significantly lower share of all taxes collected than they had before.

Dan B.
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