An unexpectedly steep rise in tax revenues from corporations and the wealthy is driving down the projected budget deficit this year, even though spending has climbed sharply because of the war in Iraq and the cost of hurricane relief.It might be unexpected to the New York Times and other liberals who don't understand that wealth must be grown (including government wealth), but not to those of us who supported the tax cuts from the beginning.
In one fell swoop, this article demonstrates the laughable falsity of "tax cuts for the rich," or the charges that "tax cuts during a war are irresponsible." And the runaway economic growth we're enjoying at the same time likewise is no coincidence.
The GOP still spends far too much of our money. But with a Democratic Congress, we would not only have more spending, but we would not have the growth that is a direct result of more money in the pockets of American business, individual investors, and of course, that Great Liberal Boogey Man: The Corporations.
How anyone can still support liberal economic policy in the face of these many years of raging success is completely beyond me.