Ω Woah... This Guy Understood Taxes

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I am no tax history scholar, but I know a thing or two. But this? This shocked me.

From spectator.org comes this bit of economics history:

These tax policies enjoy a history of bipartisan success. [He] proposed legislation to reduce income tax rates across the board by 30 percent, explaining:

“It is a paradoxical truth that tax rates are too high today, and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the tax rates….[A]n economy constrained by high tax rates will never produce enough revenue to balance the budget, just as it will never create enough jobs or enough profits.”

[His] proposed tax cuts were adopted… and pulled the top rate from 91 percent down to 70 percent, while reducing the lower rates. The next year, economic growth soared by 50 percent, and income tax revenues increased by 41 percent! [Two years later], unemployment had fallen to its lowest peacetime level in almost 40 years. U.S. News and World Report exclaimed: “The unusual budget spectacle of sharply rising revenues following the biggest tax cut in history is beginning to astonish even those who pushed hardest for tax cuts in the first place.” …[T]he administration’s chief economic advisor estimated that the tax cuts expanded the economy in just two years by 10 percent above where it would have been.

Wow. I never knew that Reagan Bush no… JFK understood taxes so well.

Yes, John F. Kennedy’s tax cuts were adopted in 1964, and the direct result was economic growth and significant tax revenue gains. So while you Obama worshippers think that the only way to balance the budget is to ask the rich to pay more (you say “fair share,” but that’s a load of crap and you know it) and everybody else knows that won’t even put a dent in the mess Obama has made, your own beloved JFK proved you wrong! Reagan and “W” were also students of history with identical successes to JFK’s, and also proved you wrong, too.

Well, you can ignore Reagan and “W” all you want. But JFK? You’ll ignore the success of John Fitzgerald Kennedy and listen to the lies our current president spews forth on the campaign trail, all so he can continue to buy voters and further plunge our economy into the toilet?

It’s time for you to wake up. Barack Obama doesn’t have a clue and isn’t likely to get a clue. He simply does not understand that good rhetoric is not good tax policy.

So… what to do? You hate Romney. That Ryan guy is from Wisconsin and is therefore the devil incarnate. And you’d never vote for America’s Comeback Team.

Here’s what you should do in November:

Stay home.

Don’t vote. Or vote for Ron Paul if you must participate. Just don’t vote for Obama. Because if you do and Obama wins, all you’ll get is another four years of “It’s not my fault” and clueless tax policies which will grind this nation into complete and total economic disaster, the likes of which we’ve never seen before.

(Read the rest of the source article. It’s worth your time.)

[Edited: Ooops. I had Kennedy adopting his tax cuts in 1964. He didn’t do it himself, obviously. His proposed tax cuts were adopted in 1964. Thanks, Darren, for pointing out this error.]

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