what about the explosion in receipts under Bush2
Housing bubble. Receipts were up in '06, '07, and '08, but Early Bush/ Late Clinton years were pulling in the same amount without the cuts. Why? Dot-com boom. '09, '10, and '11 looked just like '03-'04. http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200
Here's the deal. I feel confident that raising taxes will result in an increase in receipts. I am not confident in the "give them more money and the economy will grow to make up the difference" plan. Yea, it could work. But if it doesn't, then we are up shite creek. A risk I'm not willing to take.
the best way to add tax receipts is to grow the economy
So, what's your target? Keep the Bush cuts? Cut even more? Where are you drawing a balance? There is a sweet spot where government and economy are in harmony. I don't think we are there now, and I don't think an increase is going to put us over the edge.
This post was edited on 11/12 at 7:57 pm