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<blockquote data-quote="Hobbes" data-source="post: 1744958" data-attributes="member: 3371"><p>The Bush tax cuts added to the deficit. </p><p></p><p>Republicans love to hold up the example of the JFK tax cuts that increased revenue.</p><p>Well guess what? The top personal tax rate under Ike was 90%.</p><p>JFK cut it to something like 65% and it did increase revenue.</p><p></p><p>There comes a point of diminishing returns where tax cuts add to the deficit instead of increasing revenue.</p><p>That's what George's tax cuts did, add to the deficit.</p><p>Why did we not have budget surpluses in 2005, 2006, 2007? HMMMM?</p><p></p><p>Still republicans keep chanting "Tax cut" Tax cut" "Tax cut" and promising it will stimulate the economy so much we will have more money to spend.</p><p></p><p>Hey, I have an idea.</p><p>If cutting taxes brings in more revenue, why don't we just cut taxes to 0% and then we will have an infinite amount of revenue coming in.</p></blockquote><p></p>
[QUOTE="Hobbes, post: 1744958, member: 3371"] The Bush tax cuts added to the deficit. Republicans love to hold up the example of the JFK tax cuts that increased revenue. Well guess what? The top personal tax rate under Ike was 90%. JFK cut it to something like 65% and it did increase revenue. There comes a point of diminishing returns where tax cuts add to the deficit instead of increasing revenue. That's what George's tax cuts did, add to the deficit. Why did we not have budget surpluses in 2005, 2006, 2007? HMMMM? Still republicans keep chanting "Tax cut" Tax cut" "Tax cut" and promising it will stimulate the economy so much we will have more money to spend. Hey, I have an idea. If cutting taxes brings in more revenue, why don't we just cut taxes to 0% and then we will have an infinite amount of revenue coming in. [/QUOTE]
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