Tax Cuts Don't Cause Deficits, Spending Does - (Proof Provided!)
Welcome to Tony Island Blog! Radical Leftists claim that the Bush tax cuts all but created the current debt crisis. Sane rational people maintain that tax cuts alone don't cause deficits - it's the combination of tax cuts and continued (or increased) spending that causes deficits. Actually, it's always spending that causes a deficit - correction - it's always over -spending incoming revenue that causes a deficit. It's impossible to have a deficit without spending.That's the definition of a deficit - over spending incoming revenue. But, surely, you say, tax cuts must some how contribute to deficit spending, no? Well, actually, no. They only contribute to deficit spending when you don't account for the lower revenue they produce and continue to spend at the same rate you spent before you cut taxes. To prove this, let's take a quick trip to Fantasy-Land - a land where everything is milk and honey and the streets are paved with gold. In Fantasy-Land, ...