Friday, July 15, 2005
The NY Times wants to highlight corporate tax revenue but the personal income tax revenue increase was larger by $47 billion
The NYTimes and various other media outlets expressed shock that tax revenues increased and the deficit shrunk under a presidential administration that has pushed for tax cuts. To the liberals who never met a tax hike they didn't like, this has to be quite disconcerting. It's obvious that President Bush's tax policies are working and helping the American economy.
By removing limitations on growth, innovation, development and growth the tax cuts are helping spur tax revenue. The federal government is harvesting more of our money because we (the taxpayers) are allowed to make more money. Perhaps anti-growth propoents will take heed and see the light. Most likely, they will not.
Despite the highest S&P 500 in 4 years, low unemployment, low inflation and more Americans buying homes, many people have an impression that the United States is in the dumps. President Bush has to highlight that the tax cuts are working, people are working and the deficit is being reduced.
Others commenting are, Donald Luskin, HispaLibertas, Art of the Blog, Common Virtue, Say Uncle, Anchoress, Ace of Spades, and Captains Quarters on the Laffer Curve.