A good Laff.
Today's lead editorial in the Star Tribune trots out the tired old lefty line that tax cuts don't help the economy. Talk about beating a dead horse.
The Strib editors are sort of partially correct when they point out that the federal deficit increased after Kennedy's tax cuts in the 1960s, after Reagan's tax cuts in the 1980s, and after Bush's tax cuts last term. While that's true, they fail to mention that each tax cut was accompanied by staggering increases in spending. The Strib could have had an interesting piece had they skewered Bush and the Republicans in Congress for posing as fiscal conservatives and then spending like drunken sailors on all manner of entitlements, pork and special-interest appeasement projects. Unfortunately, that's asking way to much of the intellectual midgets at my local paper.
Which brings me to the lie. Cutting taxes does raise tax revenues. It's called a Laffer curve, and it's been proven to work. The reason that the current deficit will plateau at about $300 billion for a few years and then start growing again is that nothing has been done to curb spending, especially on Medicare, which is the single largest culprit. Raising taxes will stall the economy and only make things worse. It's too bad that liberals in this country can't come to grips with that.
Today's lead editorial in the Star Tribune trots out the tired old lefty line that tax cuts don't help the economy. Talk about beating a dead horse.
The Strib editors are sort of partially correct when they point out that the federal deficit increased after Kennedy's tax cuts in the 1960s, after Reagan's tax cuts in the 1980s, and after Bush's tax cuts last term. While that's true, they fail to mention that each tax cut was accompanied by staggering increases in spending. The Strib could have had an interesting piece had they skewered Bush and the Republicans in Congress for posing as fiscal conservatives and then spending like drunken sailors on all manner of entitlements, pork and special-interest appeasement projects. Unfortunately, that's asking way to much of the intellectual midgets at my local paper.
Which brings me to the lie. Cutting taxes does raise tax revenues. It's called a Laffer curve, and it's been proven to work. The reason that the current deficit will plateau at about $300 billion for a few years and then start growing again is that nothing has been done to curb spending, especially on Medicare, which is the single largest culprit. Raising taxes will stall the economy and only make things worse. It's too bad that liberals in this country can't come to grips with that.
This entry was posted
on Wednesday, August 17, 2005 at 9:47 AM.
