COMMENTS:
Bushy and his gangsters cut the tax rates for the rich, doing so by increasing the deficit, massively. Eventually that deficit will have to be repaid, with huge interest, under a system that has shifted a larger portion of the tax burden onto the non-wealthy.
And he convinced non-rich conservatives that it was a good idea in the bargain.
And people say he's stupid.
Absolutely Cath, and you've mentioned this before--a tax shift with tons of interest.
And the irony of it all is (as cranky points out) that financially challanged conservatives went for it.
Jedi mind tricks, young padawan...
They are getting rid of the death tax on multi million dollar estates while cutting medicaid and medicare for the poor who need it. Hey George, Jesus told the rich young ruler to give his money to the poor not swindle them and give it to his buddies.
Tax cuts create more consumer spending, which in turn, creates more tax revenue. I believe this basic economic principle has been proven time and again.
I believe thats true and Reagan used the concept well. Bush and his old man however seem to want to line the pockets of their oil, and war profiteering buddies. Even before George W. was elected I was afraid he'd be like his father and raise the debt to dangerous levels. He has exceded my expectations.
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