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Politics : President Barack Obama
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To: i-node who wrote (114742)6/4/2012 3:53:09 PM
From: RetiredNow  Read Replies (1) of 149317
 
It requires a presumption that the Bush tax cuts didn't increase revenue, which we know they did, and it ignores the positive effect that it had on the economy.

i-node, I actually want to agree with your criticisms of the Dems, because I am mostly on board with those criticisms. However, your defense of the GOP is a defense of the indefensible. Your statement above is a canard. There is no reasonable basis to come to this conclusion.

Here's a thought experiment for you. What would happen if you cut your income? Go right now and tell your boss you are going to give back 25% of your salary each year. Do you think that will somehow increase your personal revenue base? Nope. Then why do you think reducing the government's revenue base will somehow magically increase their revenue base?

I think you are engaging in fantastical thinking. So here we are. The GOP believes that you can increase the gov'ts tax revenues by cutting taxes and the Dems think you can create economic prosperity by running perpetual and massive deficits.

Can you begin to understand why I think you've all gone bonkers? Look, let's all get back to reality. If we tax more, then deficits will shrink. If we cut spending then deficits will shrink. If we do both, then deficits will shrink faster. Let's cut out all the fantasy and start dealing with the hard facts of fiscal responsibility. We should spend no more than we raise in taxes and that will free up the private economy's savings and investment to allocate capital to where it will maximize return to create increasing wealth. End of story. Period.
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