Why does Obama and everybody else on the left continue to insist that tax cuts “cost” the government anything? Tax cuts usually lead to *MORE* revenue for the government.
Remember those horrible, awful Bush tax cuts from 2002-3? Take a good look at the revenue curve in 04-07. Which direction is it going? UP. That’s right, it went UP.
Wait – tax rates down, revenue up? Why did that happen? Because the economy grew. Tax revenue tracks consistently at 18-20% of GDP, not tax rates.
Reduce tax rates, grow GDP, people get jobs and income goes up, more taxable revenue, EVERYBODY WINS.
Conversely: Raise tax rates, shrink GDP, people lose jobs and income goes down, less taxable revenue, EVERYBODY LOSES.
Why would any voter favor the second scenario? Please explain.
And then vote for Romney anyway, so my kids can find jobs. Kthxbye!