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Wednesday, September 20, 2006

Lower Tax Rates Increase Government Revenue

Democrats are fond of accusing Republicans of "giving tax breaks to the rich." If you tell them that everyone got a tax break, rich and poor alike, they'll tell you that the rich got a bigger tax break, and because of that huge tax break for the rich, the government doesn't have enough money to fund social programs for the poor.

Democrats don't seem to understand that "the rich" own companies that fuel the economy, and when the economy is running full steam, everyone makes more money. They don't seem to understand that when everyone makes more money, more money goes to the government, not less. Everyone gets to put more money into their pocket, and the government gets more money to fund all of those programs that liberals love so much.

But democrats don't seem to understand this, or at least they deny that the economy works this way.

There was a report out on Tuesday that illustrates the principle that lower tax rates actually increase government revenue. According to the Treasury, total tax receipts on Friday, September 15 were $85.8 billion. That's up from the previous one-day record of $71 billion, set on September 15 of last year, also during the era of "Bush's tax cuts for the rich."

Ask a Democrat to explain again how these tax cuts are hurting the country.


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