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To reduce the defecit, you must endeavor to, and actually cut, spending. If you raise tax rates, you get less revenue (you always get less of something you tax, and if you increase taxes on economic activity, you get less economic activity and less revenue.
Further, when revenues are "anticipated" to increase, the usual course of action by politicians in general, and Democrats in particular, is to increase spending above and beyond the anticipated increase.
The solution is found ONLY in spending cuts - DEEEEP, sustained cuts in spending.
I guess that explains why the Clinton administration has the highest rate of federal tax revenue increases of any post World War II two term presidential administration and they raised taxes.
And the Bush 43 had the LOWEST rate of federal tax revenue increases of any post World War II two term presidential administration and THEY LOWERED TAXES.
Historical Tax Revenue
George W. Bush Jr.
All figures are trillions of dollars
2001 - $1.9911
2002 - $1.8531
2003 - $1.7823
2004 - $1.8801
2005 - $2.1536
2006 - $2.4069
2007 - $2.5680
2008 - $2.5240
Increase from beginning to end of term: 26.56%
Highest Marginal Tax Rate 2003 -39.6%
Lowest Marginal Tax Rate 2004 -35%
Harry Truman
Increases in tax revenue
Harry Truman
1945 - $45.2 billion
1952 - $66.2 billion
Increase - 46.46%
Highest Marginal Tax Rate 1945 - 94.0%
Lowest Marginal Tax Rate 1946 - 91%
Bill Clinton
1993 - $1.1543 trillion
2000 - $2.0252 trillion
Increase - 75.43%
Highest Marginal Tax Rate - 39.6%
The GDP growth rate has a far more stronger influence on increasing tax revenue than cutting taxes. Tax cuts have proven to be a temporary economic stimulus that don't lead to long term economic growth.
The Bush 43 administration had only TWO quarters where GDP growth exceeded 4% or better. Compare that to other administrations:
When arguing with those stuck in reverse gear, what worked doesn't matter. As any of them will gladly tell you...
Income Tax Revenue (Top 5%), 2000: $724 Billion
Income Tax Revenue (Top 5%), 2004: $566 Billion
Why muddle the Conservative mind with FACTS and KNOWLEDGE.
All they need is IDEOLOGY!
"Psychological projection or projection bias is a psychological defense mechanism where a person unconsciously denies his or her own attributes, thoughts, and emotions, which are then ascribed to the outside world, such as to other people. Thus, projection involves imagining or projecting the belief that others have those feelings." --Wade, Tavris "Psychology" Sixth Edition Prentice Hall 2000
The most pervasive ideology out there is the idea that Government is good, more government is better, and there's no such thing as too much Government--all while the economy is dying and the nation being dismantled into irrelevance under the misguided policies of an all-powerful and fiscally insane bloated Government behemoth.
When arguing with those stuck in reverse gear, what worked doesn't matter. As any of them will gladly tell you...
Income Tax Revenue (Top 5%), 2000: $724 Billion
Income Tax Revenue (Top 5%), 2004: $566 Billion
Looking backwards, income tax revenue grew.
Do you now want to compare revenues from 2006 - 2011 under Obama, ignoring everything else taking place, like the recession? I mean hey, if its fair for you to do it to Bush, then clearly you would agree with the same comparison for Obama right?
If there's a party whose ideology defies common sense, it's the Democrats; all of the states with the very worst balance sheets have had Democrats in charge for decades.
Start with Obama's home state, then Pelosi's, then Schumer's, and go on from there.
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