December 09, 2005

"Voo-Doo" Economics Increases Federal Receipts

For the third time since the early 1960's, drastic cuts in the marginal tax rates have produced more - NOT LESS - tax revenues, as demonstrated by the following chart just released by the Treasury Department:

revenue growth.jpg

Lower Tax Rates = Higher Tax Receipts = Lower Budget Deficits. Kennedy understood it. Reagan understood it. Bush understands it.

You see, this is how economics works in the real world as opposed to Paul Krugman's fantasy world.

h/t: Ace of Spades HQ

Posted by: Gary at 10:30 AM | Comments (1) | Add Comment
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1 Now if only that money were used to pay off the debt, instead of pursuing more spending. What a world it could be...

Posted by: Ryan S. at December 09, 2005 11:26 AM (HAY6t)

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