There is one (of many) claims we hear the GOP repeat over and over that has always baffled me. And the fact that it keeps being repeated endlessly makes me wonder about the intelligence level of those who buy into this bogus claim so readily? Do they even bother to stop and think things through?
I refer to the GOP mantra that revenues go up when taxes go down.
Often you’ll hear them reference the Reagan presidency as proof positive of this belief? But they conveniently forget Reagan was our first massive deficit spender, by pumping billions of dollars of borrowed money into the military and missile production he created lots of additional tax revenues, but this increase was NOT due to tax cuts.
If cutting taxes really raised revenues, why do we have any taxes at all?
If, when Reagan cut taxes from 50 percent to 35 percent, it actually raised revenues as they claim, wouldn’t cutting taxes to zero absolutely flood our federal government with so much revenue they wouldn’t know where to put it all??
So following this same path of conservative logic, we would be stupid not to completely eliminate the personal income, corporate, capital gains, estate and gas taxes altogether, because we would never want for federal revenues ever again and our federal deficit would just magically disappear overnight. Right?
Next we’ll see Republicans invite Santa Claus and the Tooth Fairy to run for the White House in 2016!
Talk about American exceptionalism! Be sure to cast your votes early for this magical team!