See, it’s all fun and games when it comes to the funny money of expected revenue. :) Woohoo!
Yes, even though tax revenue has been steadily increasing under the Bush tax cuts, imagine how much more it would have been increased if they had been done away with!1!!1! lIKe WaY CoOooOol!!! (And therein lies the liberal mind. Even if it’s working, it’s not working as well as it would if government had a greater say-—errrr, license to steal.)
And here’s my favorite part:
>>>The expiring tax cuts are regressive—they provide a larger percentage cut in after-tax income for high-income households than for low-income households<<<
How convenient and cute that he leaves out the fact that small businesses are bundled up right alongside those high income households. And that those small businesses hire a lot of new people who probably fit into his low-income households and may just help convert some of them into high-income households.
But let’s raise taxes on small businesses, force them to cut back their workforce, and just put the fallen apples from the shakedown on the public dole, shall we?
There’s nothing “progressive” about taxing businesses. Nothing. No matter how much these harpies want to squack about it. And I’m not even going to get into how the wealthy members of society (of which I am not a member) pay far more than their fair share of taxes...(but I’d be preaching to the choir here, anyway).
You can look at the author’s (William G. Gale) past articles on various subjects (capital gains tax rate cut in 1997 was a TERRIBLE idea and would have no positive impact on investment, the savings rate, the economy — just further deficits because the Feds would be squeezed by this sop to the rich) and see how time, logic and the truth have refuted this guy’s Cassandra assertions. And yet he remains Deputy Director and Senior Fellow in Economic Studies at the Brookings Institution, and the The Arjay and Frances Fearing Miller Chair in Federal Economic Policy (I’m sure Henry Ford is rolling over in his grave given what has happened to his Henry Ford Foundation turning socialist, statist and almost communist) — Wouldn’t you think Brookings would look back at this awful predictions and recognize THEY’VE BEEN WRONG on the most important tax policy issues for the past 27 years?????