If tax revenue is up 19% since 2009, tell me again why taxes need to go up?
Rob Port throws up a couple of graphs that show that, as most of us have been saying for quite some time, it’s not a revenue issue causing the Federal Government’s deficit problem – it’s a spending issue.
Per Port, since 2009, tax revenues are up 19%.
So how does one get the message across to government that it must live within it’s means if it gets a tax increase without spending cuts?
You don’t. You just encourage it to push for more. Already “millionaires” are defined as those making $250,000 a year.
But let’s make excuses for the GOP’s capitulation, shall we (the hapless GOP, which will get blamed if we go over the fiscal cliff or if we avoid it and everything crashes anyway)?
Apparently the new conventional wisdom, “spend till your wallet bleeds and then break out the credit cards” has repealed the laws of economics once again. Ask Paul Krugman if you don’t believe it.