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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (513120)9/15/2009 2:23:07 PM
From: i-node1 Recommendation  Read Replies (1) of 1577225
 
>> Given that tax cuts almost always result in deficit spending

It is a totally ridiculous statement and nobody who said this has ANY understanding of our economy.

Tax cuts have CONSISTENTLY resulted in increased revenue. Period. Dating back for 100 years, every major tax cut initiative has resulted in massive revenue increases. Here are the numbers:

2003 3671.43
2004 3594.74 (tax cuts in '03)
2005 4017.01 (tax cuts in '05)
2006 4435.76
2007 4725.27
2008 4823.51
2009 4608.07

Over the course of '03 to '07 we saw a trillion dollars in additional revenue raised. don't like that example? Okay:

1996 2615.40 (tax cuts in '96)
1997 2804.00
1998 3003.79
1999 3168.45
2000 3457.77
2001 3756.33

Need another?

1980 885.62
1981 1015.71 (ERTA -- major tax cut -- enacted)
1982 1076.72
1983 1104.02 (TEFRA -- small tax increase -- enacted)
1984 1221.55
1985 1347.54
1986 1439.36 (TRA86 -- major tax cut -- enacted)
1987 1581.95
1988 1676.22
1989 1822.30

Keep in mind that liberals were telling us ALL ALONG that tax cuts would cause deficits. But the simple truth is that tax cuts DECREASE the deficit (contrary to what you've said) in every case, while INCREASED government spending has caused higher deficits.
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