07/14/2011
I just read the most ridiculous reader submitted editorial in the Denver Post. In it the writer talked about the Laffer curve. He talked about the fact that low marginal tax rates raise revenue because people spend more of their income when it is available to them. Then the writer said the reason that we have a deficit that is unprecedented is not because we didn't raise the marginal tax rate, but because of the unfunded Afghanistan and Iraq wars.
Can I say "well, DUH!". Let's see. Bush II doesn't raise taxes to pay for the wars and takes revenues meant to be used elsewhere to pay for the wars...and that leads to a deficit that is out of control. How do you fix that? Either raise taxes to pay for the war, or don't start a war that you can't or aren't willing to raise taxes to pay for.......
Idiotic. This is what passes for wisdom within the Tea Party......I'm seriously worried about this country.
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