EDITORIAL: Tax Cuts and Deficits: Bad math, slick politics: We'll pay, eventually.(Editorial)

From: The Philadelphia Inquirer (Philadelphia, PA) | Date: May 30, 2006 | Copyright information

May 30--For the past five years, Congress and President Bush have been cutting taxes in the face of huge deficits, all the while peddling a math myth to the public. Tax cuts won't make the deficits worse, they say. Tax cuts will stimulate so much economic growth that federal tax revenue will actually increase. Tax cuts, they are fond of saying, pay for themselves. Actually, no. Economists of all stripes agree that federal tax cuts by themselves do not boost federal revenue back to the level before the cuts were enacted. Tax cuts do boost economic activity. This growth ...

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