Federal tax revenues are higher than they were, higher than at any point in history, higher than the CBO projected they would be with the tax cuts, and higher than the CBO projected they would be without the tax cuts. And the Fed has been restrictive, which means it's not the temporary effect of monetary policy - in fact monetary policy is working AGAINST growth of GDP and the tax base.
Yes we have a deficit and that's a problem but it results from INCREASED SPENDING, for which BOTH parties are to blame.
And given the increase in revenue, it's possible that a tax RATE hike would CUT revenue.
How can ANYONE be against making the tax cuts permanent now that they've proven to pay for themselves?
2006-11-03
11:35:34
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5 answers
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asked by
Anonymous
in
United States