Tuesday, December 4, 2012

Fiscal Cliff Notes

12/4/12. Thomas Sowell reminds us how far we have fallen --- and that reality is not optional.


Part II:


Thomas Sowell:  

"...What both the statistical tables in the "Economic Report of the President" and the graphs in Investor's Business Daily show is that (1) tax revenues went up— not down— after tax rates were cut during the Bush administration, and (2) the budget deficit declined, year after year, after the cut in tax rates that have been blamed by Obama for increasing the deficit..."

1 comment:

Clean house said...

An occasional series which breaks down the looming "fiscal cliff" of expiring tax cuts and deep automatic spending cuts set to hit around the first of year.