Tuesday, July 11, 2006

Tax Cuts Work

Here's Bill O'Reilly's report on tax cuts in last nights Talking Points on The O'Reilly Factor. I'll post below as well:

"Talking Points Memo
The truth about the rich
"How many times have you hear the left wail about tax cuts for the rich? Well, a funny thing happened on the way to the bank. Those 'tax cuts for the rich' have helped all Americans, especially the poor. Tax revenues are climbing twice as fast as predicted and the deficit is being sharply cut. That's because the so-called rich are making money in stocks and other investments, and the government is taxing that money at a moderate rate. Want more proof? President Clinton was a 'tax-the-rich' guy." In the middle of his two terms, 1995, the government took in $1.5 trillion in tax receipts. Ten years later the feds took in $2.1 trillion, 40% more. Socialist New York Times columnist Paul Krugman must be rolling over in his Princeton classroom, but lower taxes help the economy and give the feds more tax money. But this is not really about lower taxes - it's about the government taking from affluent Americans and giving to those less well off. That's what Krugman and his merry band really want. They think unfettered capitalism is bad, income redistribution is good. So please - no more 'tax cuts for the rich' nonsense. With the Bush administration spending like crazy, high gas prices, and an expensive war on terror, the USA should be in a deep recession. The main reason the country is not is because Americans continue to spend and invest. Lower taxes mean more prosperity for everyone, no spin."

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