Bush Team doesn't even believe what it says
A new report from the Center on Budget and Policy Priorities shows that despite the Bush team saying things like this:
President Bush, for example, commented in a February 8 speech, “You cut taxes and the tax revenues increase.”[1] Similarly, Vice President Cheney has claimed, “The tax cuts have translated into higher federal revenues.”[2] Majority Leader Frist wrote that recent experience demonstrates, “when done right, [tax cuts] actually result in more money for government.”[3] The Vice President also has stated, “The evidence is in, it’s time for everyone to admit that sensible tax cuts increase economic growth and add to the federal treasury.”[4]When they have to be honest and chart out their federal budget, you actually get this:
The Administration’s own budget shows that it does not expect the tax cuts to produce revenue growth that would make up for their costs. Based on the budget projections for revenues in 2006-2011, real per-person revenues will grow at an annual average of 0.6 percent between 2000 and 2011, only about one-third the growth rate during the 1980s and less than one-fifth the growth rate during the 1990s. The Administration’s budget projects that revenues in 2011 will be about $450 billion below the levels projected before the 2001 tax cuts.You can find the end notes from the quotes and the whole report here.
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