Posted on 03/08/2010 6:01:30 PM PST by 198ml
The Washington Post must dislike tax cuts even more than it likes President Barack Obama. On March 6, staff writer Lori Montgomery warned that the national debt would climb by $9.7 trillion under Obama’s budget.
Relying on the Congressional Budget Office (CBO) for data, Montgomery reported that the debt would be "higher than White House forecast" but not because of spending increases by Obama. Instead, she used the CBO to attack Obama's "tax-cutting agenda" continuing a media theme of portraying him as fiscally conservative despite the largest budget ever.
"Proposed tax cuts for the middle class account for nearly a third of the ($9.7 trillion) shortfall," Montgomery wrote. Her one-sided article relied solely upon the CBO and its director Douglas W. Elmendorf.
(Excerpt) Read more at newsbusters.org ...
What tax cuts? My taxes went up $200 in 2009.
These must be related to that so-called "recovery" we're having too.
Fact: Tax revenues correlate with economic growth, not tax rates.
Many of those who desire additional tax revenues regularly call on Congress to raise tax rates, but tax revenues are a function of two variables: tax rates and the tax base.
Regardless of the tax rate, tax revenues have almost always come in at approximately 18 percent of GDP.
Yeah, my thoughts too. I kinda wondered why the press was not harping about the DOW being over 10K.
Because they know once the meat of the matter comes into play, no one can deny its a "jobless" recovery teetering as it is.
0bama hasn’t cut taxes. The government just played some games with payroll withholding as far as I know. What’s funny is many many people just paid that back by getting a smaller “refund” for last year.
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