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Good Stuff from the 2003 Tax Cuts

Nov 5, 2006 Cool Links, Politics

I’m not going to take this all at face value without seeing some research behind it, but on the surface, the numbers make sense to me: Good Stuff from the 2003 Tax Cuts

(Hat tip: USS Neverdock)

EDIT: Following links backward, the source of the numbers is the blog of the non-partisan American Shareholders Association.

This entry was posted on Sunday, November 5th, 2006 at 1:31 PM and is filed under Cool Links, Politics. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
  • K4
    I remember Ben Stein Asking Ferris about Voodoo Exonomics! :P

    K
  • Again, assuming the research is correct on the numbers posted above (my original post has been edited with research source information), the deficit has gone down $207 billion over the last 2 years. Hardly ballooning out of control.

    And tax cuts affect everyone. Yeah, they affect people who are paying more taxes to begin with more. And while richer individuals pay a lot of taxes, another group that pays a lot of taxes are small- and medium-sized businesses. The less taxes they're charged, the more people whom they can afford to hire, who then pay more income taxes than they would have initially. Lowering the tax rates does then end up actually increasing the revenues. We've had 3 years to look at the results. How else would you explain the revenue increase?

    -- Pauley
  • Kirz
    Oh, and re: How lowering taxes increases tax revenue.
    During Bush I presidency, they had a term for that kind of Macro economic thinking, I believe it was:
    VOODOO ECONOMICS !
  • Kirz
    ummmm, but what about the deficit? Last time I looked it is totally ballooning out of control and out of all reason! In absolute dollar amounts (and even in inflation adjusted dollars) it is totally out of control and will put an incredible burden on the next generation and will be a total budget buster just on the interest charges to service it, alone! to fund this out-of-control Frankenstein of a deficit! What happened to Bill Clinton's federal budget SURPLUS?
    Oh, that's right, Bush II and the Republicans blew it! Blew it ALL on tax cuts for the rich!
    You know, one of these days (November 7th) they're gonna have to answer for that
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