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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (101742)3/22/2011 11:12:42 AM
From: JakeStraw4 Recommendations  Read Replies (1) of 224718
 
The only era in modern times that the budget has been in balance was in the late 1990s, when Republicans were in control of Congress. Taxes were not raised, and the capital gains tax rate was cut in 1997. The growth rate of federal spending was dramatically reduced from 1995-99, and the economy roared.

When the government takes in money, it spends it. In fact, it spends more than it takes in, regardless of the source. Thus, more taxes = more spending, not deficit reduction.
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