Saturday, July 08, 2006

Tax Cuts = Deficit Reduction: Told You So!

Conservative economic policy works. According to the New York Times (which I'm surprised printed it at all):
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.

5 comments:

Anonymous said...

Oh spare me the conservative bullshit. We also have fewer jobs and lower wages in this country. All the money goes to the rich, so yes, they should pay more.

Your conservative philosophies aren't worth the toilet paper they're printed on.

Orrin Johnson said...

Actually, if you read the NYT article I linked to, you will see that we indeed have more jobs and higher wages. Or if you read anything except the Daily Kos, frankly.

But I appreciate your articulate and carefully supported contentions. They are worth far more than toilet paper, as they demonstrate for all to see where exactly it is that liberals are coming from these days.

Orrin Johnson said...

Looks like the Times article timed out, but here's more job/wages info.

Cato said...

It's also worth pointing out that the rich don't just put their money in their "Money Vault" and swim around in it. They spend it, or invest it, and it flows around. So more wealth for the rich does increase everyone's wealth, if to a lesser extent. If you're worried about the gap between rich and poor, that isn't very comforting. But if you're worried about everyone being substantively better off, it's worth something. A rising tide does float all boats, at least a little bit.

The question is: does government redistribution rise the smallest boats fast enough to justify restricting wealth generation? I don't think so, but it's an argument that can be made, at least if you're more interested in equality than personal freedom.

Orrin Johnson said...

Mmmmm.... I've always wanted a Scrooge McDuck Money Bin to swim in. That's the REAL reason I'm a conservative...