Tag: tax cuts

Repealing the Bush Tax Cuts Would Lead to Lower Tax Revenues

Since many liberals are calling for new massive tax increases as a part of the debt ceiling deal congress is fighting over right now I figured it might be a good time to review some of the results of the last major attempt at tax reform. The Bush tax cuts that is. So, what exactly does the data show us about how they performed? First off we need to understand that the revenues resulting from tax structures are completely dependent on the state of the economy. Of course the opposite is viewed by everybody from across the political spectrum to be true as well.

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Extend the Bush Tax Cuts

On 1 January 2011, the Bush Tax Cuts are set to expire and there is fierce debate whether or not to extend them. These tax cuts, despite what the liberals say, are not solely focused on “the rich”. The reduction in tax rates brought us out of the 2001 recession and contributed to the economic growth, starting in 2003. However, due to the media’s amazing work (sarcasm), people really don’t know what the 2001 and 2003 tax cuts actually did. But, that’s why I’m here. Many people on the Left wrongly blame the current recession on the Bush Tax Cuts.

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