Friday, June 11, 2010


Stop the presses!  John "Orange Julius" Boehner has solved the country's financial problems with a seemingly brilliant plan:  more tax cuts like the ones that ruined our economy and added trillions to our debt in the first place.  Brian Beutler calls shenanigans:
"You equate the idea of lowering marginal tax rates with less revenue for the federal government," Boehner cautioned. "We've seen over the last 30 years that lower marginal tax rates have led to a growing economy, more employment, and more people paying taxes. And if you look at the revenue growth over those 30 years, you've got a prime example of what we've been talking about."

This is practically the reverse of the truth. In the years after the Ronald Reagan and George W. Bush tax cuts, economic growth and employment were significantly lower than they were after Bill Clinton's 1993 tax increases. According to Michael Ettlinger and John Irons of the Center for American Progress, "Over the seven-year periods after each legislative action, average annual growth was 3.9 percent following [Clinton's 1993 tax increase], 3.5 percent following [Reagan's 1981 tax cut], and 2.5 percent following [Bush's 2001 tax cut]."

But beyond the factual contradiction, Boehner appeared to be in denial about the real impact of the Bush tax cuts. Another reporter followed up: "Are you saying that the Bush tax cuts didn't effect the deficits that we're in now?"

Boehner halted for a moment, then shrugged: "The reductions in '01 and '03 were to respond to an economic problem. '01 was done before 9/11. '03 was done in response to what happened to the economy. But that's not what led to the budget deficit. It's not the marginal tax rates. If you look at the problem that we've got here, it's a spending problem, that has grown over the last five or six years. A real spending problem. "
I've got news for you there OJ, the "spending problem" is your "Bush Tax Cuts" problem.

The Bush tax cuts got us into this mess. MORE tax cuts will not get us out. Besides, listening to the economic theories that created this mess and then repeating those same mistakes seems like a pretty stupid idea if you think about it. What kind of shape would our economy be in if we weren't still bogged down in two wars and dealing with Bush's multi-trillion dollar gift to his buddies?

Only now, the Serious Washington Centrist have decided that somebody needs to pay for it through massive spending cuts.

PS, the massive spending cuts aren't going to affect the people who can afford to live without them.

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