And the deficit got cut in half how, exactly, between 2004 and 2006? Spending certainly didn't go down.
It seems you have a double standard. When the deficit goes up, it's got to be because of tax cuts. When the deficit goes down, it must be because of tax hikes. Oh wait, there weren't any, only more tax cuts. How can that be? Don't you need to raise taxes to get more revenue? Maybe the economy is dynamic in reality instead of static according to government projections, which never take a dynamic reaction to taxes into account. People change their behavior because of the tax code. The collapse of the S&L's in the early 1990's should be all the proof you need that people react to tax changes. Tax loopholes caused all those investments in bad commercial real estate. Tax simplification eliminated those loopholes, directly leading to the collapse of those S&L's.
The health of the economy is the most important reason for tax revenues rising or falling. The best way to get the economy going is through tax cuts, not tax increases. Even Obama admits it himself. He admits that because of the bad economy, he may not be able to raise taxes immediately.
That admission should tell you something. He knows his economic plan is no good for the economy and that only a healthy economy can have a chance of withstanding his tax hikes. So why's he willing to postpone his tax hikes in a bad economy? I thought his economic plan was supposed to save the economy? If his plan were so great, he should be saying we need to raise taxes as soon as we can!
No, the only reason he wants to raise taxes is the same reason all liberals want to. It's not to help the economy. It's to fund his outrageous spending that he's proposing in order to buy more votes. He knows tax hikes are poison to the economy. Anybody who's taken Econ 101 knows that. So he's just proposing killing the economy later, rather than right now. Obama's change isn't change. It's just more of the same tax and spend liberalism that we've all seen before and have rejected numerous times. Republicans get tossed out of office whenever they start acting like Democrats and spend like drunken sailors.
Liberals promise tax cuts during elections but somehow never seem to follow through when they get elected. Remember Bill Clinton who promised a massive tax cut for the middle class? How'd that turn out? It turned into a massive, retroactive tax hike on just about everybody after he'd "worked as hard as he could to give you a tax cut but just couldn't." He even raised taxes on poor seniors by lifting the taxable portion of their Social Security from 50% to 85%. Right after his tax increase, the 4.8% growing economy he was handed by George H.W. Bush turned into a stagnant economy that didn't begin rising until the seating of the GOP Congress in 1995.
Raise your hand if you believe Obama will actually give anyone a tax cut.
I'm not counting his proposal to give cuts to people who don't pay taxes. That's welfare, not a tax cut. Liberals believe in welfare, not tax cuts, so I'm quite willing to concede he will do exactly what he promises here.
