A Visual History of U.S. Government Deficits - Megan McArdle - Business - The Atlantic
If the Bush tax cuts of 2002-3 caused a decrease in tax revenue, why does the green line go up from 2003 through 2007? Sure looks like an upward sloping line to me!
Then it falls during 2007, signaling the start of the recession. You know, when economies shrink, by definition. Huh.
So you know, to this moron, it sure looks like tax revenues go UP with tax cuts, and go DOWN with a shrinking economy.
Which shows, yet again, that tax cuts are good and a shrinking economy is bad. For everybody, including government.
So when politicians and other professional sophists use that “tax cuts for the rich” line? Yeah, they’re full of shit.
For some strange reason, this concept is hard for people in government to grasp. So let’s explain it here succinctly, again: tax cuts usually stimulate investment which creates jobs and grows the economy, and this economic growth not only makes up for the decrease in expected tax revenue from the lower rates, it actually causes an increase in tax revenue because of the size of the economic growth.
It really isn’t that hard a concept to grasp. Yet politicians and class-warfare zealots throw that line out there all the time: “tax cuts for the rich”.
You’d almost think they were, like, thick-headed or anti-capitalist or something. Or, you know, liars.
But we know they are brilliant, and not socialist, and not liars, because they tell us so.