Treasury sets record for corporate taxes, breaking last year’s mark
If there is one thing about the Republican Party’s vision that I buy into whole-heartedly, it’s the theory of ‘trickle down’ economics first implemented by Reagan – the theory that LOWER taxes leads to HIGHER economic growth and thus MORE government revenue. This article, and our recent history, helps support that. The treasury set a single day record, higher than last year and higher than any day in Clinton’s precious "good economy" administration.
It just don’t understand how the Democratic Party, as a whole, fails to see this reality. In the past 30 years, every time Americans have been saddled with high taxes it has inevitably led to an economic downturn, the last of which was inherited by Bush on the heels of Clinton’s monster tax system. And every time this occurred, it seems that a Republican administration followed with tax cuts that helped the economy bounce back. In a capitalistic system, corporations MUST be allowed to put as much revenue as possible back into the economy. Taking it for government purposes does nothing but bring growth to a grinding halt.
Say what you want about Bush, but he did rescue this economy and it still prospers today EVEN in the face of skyrocketing oil costs. There was a difficult period after 9/11, but the economy survived and is on its way to booming, mainly because of Bush’s tax cuts that left room for growth. No, the budget is not balanced, mainly because we are engaged in a global war, but it WILL be soon. Patience is key. Why on earth would the American people revert back to the Democratic high-tax strategy that does nothing but halt growth in the name of funding entitlement programs?
I certainly hope that’s not what we decide to do.