I feel I can speak for a vast majority of us when I say am sick and tired of the progressive spin on this. Their constant claim that Bush Tax Cuts had no positive effects are absolutely ridiculous.
For starters, the unemployment rate between 2001 and 2006 was between 4% and 6 %. Even when the government-created and inflated housing bubble burst, and the disastrous government-assisted sub-prime mortgage scam brought down the economy, the unemployment rate never rose about 7.2%. More people working means more taxes paid.
As far as tax rates and federal revenue, simply examine the historical data. It clearly shows that more taxes were collected under Bush (2001 to 2008) than under Clinton (1993 to 2000). Feel free to draw whatever conclusion you wish concerning tax rates and revenue.
Please try to understand this simple fact, Ms Walsh, before uttering another asinine syllable: The failure to raise tax rates does not create debt. Only spending more than you have can accomplish that feat.
All who manage household budgets know this. Only in Washington can you find people who ignore this concept. These people are called Progressive, or Liberal, Democrats, and they all seem to share the bizarre belief that people have no right to keep what they earn.
Washington is very, very good at spending more than they have. They have created a procedure that allows them to ignore the limits on the federal credit card. It's called raising the debt ceiling, and they give themselves a credit line increase each and every year they exceed the previous limit.
These Democrats have redefined the "American Dream" and it now states that, although America is the land of opportunity and that anyone in this country can be successful, the Democrats reserve the right to determine exactly how successful you are allowed to be.
Today they have determined that $249,999.99 is the limit of one's success. I wonder what that limit will be in the future.