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Bad News for Libs: The Rich are erasing the Deficit!
Todayís headlines confirm what conservatives knew all along: If you cut taxes, you will spur the economy, and in the end, realize higher revenues than with high taxes. In fact, in the midst of a two-front war and some lavish spending (eg., the Medicare Drug Program), it appears that our beloved President under-estimated the positive effect of his tax cuts. The economy boomed forward, slashing the projected 2006 deficit by $127 billion to $296 billion.
And, if you would have believed the leftist spin on things, the tax cuts, which they viciously fought and still try to repeal, would have shifted the burden of payment onto the poor, while the rich would have been bathing in the $100 bills of their ill-gotten tax cuts. What a crock. Virtually the entire amount of this deficit reduction is attributable to increased payments from big business and high-income earners. And this is no surprise. The Rush Limbaugh home page has for years listed the proportion of tax payments made by whom. The "rich," as of this writing, pay 96.54% of all income taxes.
I have repeatedly stressed on these pages that high-income earners are the most productive members of this society. The hypocritical class-warfare rhetoric of the extreme leftist who have kidnapped the Democratic party accuses those with high incomes of "winning Lifeís Lotto" -- in essence, accusing these high earners of not deserving their pay. Now I donít know if they refer to multi-million salaried NBA stars who get drunk and perform sex acts on themselves while driving, or film actors who make $10-20 million per picture, live in gilded palaces, and then demand that others pay huge taxes to allow illegal aliens to collect welfare, or the hard-working small businessman who puts in 75 hours per week and manages to succeed on pure sweat and hard work. My guess is that the leftist elites receive money from the first two demographics, and the third one is the one they deem to have unfairly profited. If actions speak louder than words, the Leftís attempts to force small businesses to pay higher minimum wages and offer other prohibitively expensive benefits to their employees tell us that they hate anyone who succeeds by his or her own hard work.
Nonetheless, these hard-working people pay 96.54% of all government revenues. Any tax hike punishes their productivity. I personally believe in the minimum possible government, and the return of the peoplesí money to the maximum extent possible. Ideally the government has the following responsibilities: 1) Defend the country against its enemies; 2) Enforce a set of laws designed to be as small as possible, yet to prevent chaos in commerce and daily life; and 3) Provide money to allow all citizens equal access to education. Anything else oversteps the bounds where government is able to operate properly.
When our President cuts taxes, and prohibits the willy-nilly expansion of government, and the end result is a twelve-digit reduction of government deficit, this is a wonderful thing. Remember this at the polls when Democrats beg for your votes so that they can impeach our President and torture the GOP, hike your taxes to the strtatosphere, and give your money by the pile (and the vote) to illegal aliens. Perhaps you will vote for the party who raised government revenues by cutting taxes.