On the eve of the 110th Congress, we're about to hear fabled tales of economic growth, and as the Decider wrote in the WSJ, 'record revenues.'
Given the massive tax cuts we’ve had over the years, I began wondering how exactly Bush could justify using that word.
Do a little googling and you'll see it's not the first time the administration has suggested loudly declared that its tax cuts have led to “record” revenues. Check out this graph released from the Treasury Department from about a year ago.
You'll see the first chart at the top of that page. Again, click on it to enlarge but the image is larger and has brighter contrast.
http://www.gpoaccess.gov/usbudget/fy05/sheets/hist01z3.xls. (second link for OMB Table 1.3)
Another big factor is simple population growth. Every person added is one more car, one more tube of toothpaste, one more can of beans, one more of every consumable item, all of which adds to the Gross Domestic Product and to increased federal tax revenues. The government doesn't have to lift a finger and the economy will "grow" at the population growth rate. Roughly, that's about 1% a year, a significant amount when applied to those revenue figures.
1.From this, it looks like the tax cuts have been an overwhelming success, shooting revenues up past even Internet-boom levels. So what gives?
2.The trick they're using is that they aren’t adjusting for inflation in calculating revenues. Here’s the OMB table that explains what I mean (click on it for larger image):
3.The administration is using current dollars rather than constant dollars (i.e., dollars adjusted for inflation). In constant dollars (or especially as a percentage of the GDP), the tax cuts did not lead to “record” revenues, or even to positive ones. Our revenues are still lower than they were before Bush took office.
4.So when you hear conservative Republicans defend tax cuts, know that their statements relie on disingenuousness and a presumption of your ignorance. IOW, as your common sense and the numbers tell you, when you hear Republicans claim that tax cuts increase revenue - it's just, well, a lie.
5.Sad so many up in DC think it cant happen here, because nothing lasts forever does it? Look at the new laws and power Bush has demanded, and received does it scare you? I see bad news coming if things don't change to restore our rights. So many have died to ensure our freedoms lets make there sacrifice mean something.
6.It should be scaring everyone and they need to know how the GOP is lying from false claims regarding alleged 'record revenues' to searching first-class mail without a warrant.
7.It's time for a great many people to start speaking up loudly.
Well when people finally realize that the man is nothing but a civil servant maybe we can get something done. We elect the idiots to serve us not rule like some sort of tin god, I'm sick and tired of this great men status these numb-nuts have enjoyed.
Politicians are like diapers they need changed often and for the same reason!
What we need is to have them elected by the popular vote, and rid ourselves of this electoral college garbage. We need to have a way to fire them when they get to high on there own BS.
Remember one thing anybody can be replaced its why we have a so to speak chain of command